,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #bhci  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,novemb] #ab1 #bjai,mr4
 ,k5n$y introduc$ ! foll[+ bill2 :i* 0  
read twice & ref]r$ to ! ,committee on  
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to am5d ! ,bank ,hold+ ,company
 ,act ( #aief to regulate indu/rial bank
 hold+ companies1 & = o!r purposes4  #a4
 ,%ort title ,?is ,act may be cit$ z !  
,elim9at+ ,corporate ,%ad[ ,bank+ ,act (
 #bjai4  #b4 ,indu/rial bank hold+      
company regulation  7a7 ,def9itions     
,section #b ( ! ,bank ,hold+ ,company   
,act ( #aief 7#ab ,u4,s4,c4 #ahda7 is   
am5d$--  7#a7 9 subsection 7c77#b71 by  
r$esignat+ subp>agraph 7,h7 z subsection
 7r71 mov+ t subsection to appe> aft]   
subsection 7q71 & adju/+ ! m>g9s        
accord+ly2  7#b7 9 subsection 7r71 z s  
r$esignat$--  7,a7 by /rik+ 7r7 ,an     
indu/rial & ins]t+ ! foll[+3  7r7       
,indu/rial bank ,! t]m indu/rial bank   
means an indu/rial  2 &  7,b7 9 ! flu%  
text foll[+ subp>agraph 7,b71 by /rik+  

subp>agraph & ins]t+ subsection2 &  7#c7
 by add+ at ! end ! foll[+3  7s7 ,cov]$ 
indu/rial bank hold+ company ,! t]m     
cov]$ indu/rial bank hold+ company means
 any company--  7#a7 t1 be=e ,octob] #a1
 #bjai1 controll$ 7z det]m9$ by ! ,bo>d 
pursuant to subsection 7a771 directly or
 indirectly1 an indu/rial bank2  7#b7 t 
did n acquire control ( any o!r         
depository in/itution aft] ,octob] #a1  
#bjai2  7#c7 ) respect to :i* !re is no 
*ange 9 control1 directly or indirectly1
 ( any depository in/itution subsidi>y  
aft] ,octob] #a1 #bjai1 t requires a    
regi/ration "u ?is section or an        
application "u section #g7;j7 or #ah7;c7
 ( ! ,f$]al ,deposit ,insurance ,act    
7#ab ,u4,s4,c4 #ahag7;j71 #ahbh7;c771   
section #c ( ?is ,act1 or section #aj ( 
! ,home ,own]s' ,loan ,act 7#ab         
,u4,s4,c4 #adfg;a72 &  7#d7 t 0 n--     
7,a7 a bank hold+ company2  7,b7 a sav+s
 & loan hold+ company2  7,c7 a company t
 is subject to ?is ,act pursuant to     
section #h7;a7 ( ! ,int]national ,bank+ 

,act ( #aigh 7#ab ,u4,s4,c4 #cajf7;a772 
7,d7 a hold+ company regulat$ by !      
,securities & ,ex*ange ,commission      
pursuant to section                     
#bdj4ae;c#c-a7;a77#g7 ( title #ag1 ,code
 ( ,f$]al ,regulations1 z 9 effect on   
,augu/ #a1 #bjai2 or  7,e7 controll$ by 
a company describ$ 9 subp>agraph 7,a71  
7,b71 7,c71 or 7,d74  7t7 ,capital t]ms 
relat+ to cov]$ indu/rial bank hold+    
companies  7#a7 ,adequately capitaliz$  
,) respect to a cov]$ indu/rial bank    
hold+ company1 ! t]m adequately         
capitaliz$ means a level (              
capitalization :i* meets or exce$s all  
applicable ,f$]al regulatory capital    
/&>ds4  7#b7 ,well capitaliz$ ,) respect
 to a cov]$ indu/rial bank hold+        
company1 ! t]m well capitaliz$ means a  
level ( capitalization :i* meets or     
exce$s ! requir$ capital levels = well  
capitaliz$ cov]$ indu/rial bank hold+   
companies e/abli%$ by ! ,bo>d4  4  7b7  
,cov]$ indu/rial bank hold+ company     
regi/ration & own]%ip ,! ,bank ,hold+   

,company ,act ( #aief 7#ab ,u4,s4,c4    
#ahda et seq47 is am5d$ by add+ at ! end
 ! foll[+3  #ae4 ,indu/rial bank hold+  
company regulation  7a7 ,acquisition (  
indu/rial bank %>es or assets ,section  
#c ( ?is ,act 7o!r ?an section          
#c7;c77#c77;,b77 %all apply to any cov]$
 indu/rial bank hold+ company 9 ! same  
mann] z t section applies to a company t
 is or w\ld become a bank hold+ company1
 except t = purposes ( apply+ ?is       
subsection--  7#a7 any ref]5ce to a bank
 hold+ company 9 su* section #c %all be 
deem$ to be a ref]5ce to a cov]$        
indu/rial bank hold+ company2  7#b7 any 
ref]5ce to a bank 9 su* section #c %all 
be deem$ to be a ref]5ce to an indu/rial
 bank2  7#c7 any ref]5ce to ! ,bank     
,hold+ ,company ,act ,am5dm5ts ( #aigj 9
 su* section #c %all be deem$ to be a   
ref]5ce to ! ,indu/rial ,bank ,hold+    
,company ,act ( #bjai2  7#d7 any ref]5ce
 to a home ,/ate 9 su* section #c %all  
be deem$ to be a ref]5ce to--  7,a7 )   
respect to a cov]$ indu/rial bank hold+ 

company1 ! ,/ate 9 :i* ! total deposits 
( all bank+ subsidi>ies ( su* company 7 
! l>ge/ on ! lat] (--  7i7 ,octob] #a1  
#bjai2 or  7ii7 ! date on :i* ! company 
becomes a cov]$ indu/rial bank hold+    
company "u ?is section2 &  7,b7 )       
respect to an indu/rial bank1 ! home    
,/ate ( ! bank z det]m9$ "u section     
#dd7;g7 ( ! ,f$]al ,deposit ,insurance  
,act 7#ab ,u4,s4,c4 #ahcau7g772  7#e7   
any ref]5ce to a ho/ ,/ate 9 su* section
 #c %all be deem$ to be a ref]5ce to--  
7,a7 ) respect to a cov]$ indu/rial bank
 hold+ company1 a ,/ate1 o!r ?an ! home 
,/ate ( ! company1 9 :i* ! company      
controls1 or seeks to control1 an       
indu/rial bank subsidi>y2 &  7,b7 )     
respect to an indu/rial bank1 ! ho/     
,/ate ( ! bank z det]m9$ "u section     
#dd7;g7 ( ! ,f$]al ,deposit ,insurance  
,act 7#ab ,u4,s4,c4 #ahcau7g772  7#f7   
any ref]5ce to an out-(-,/ate bank hold+
 company 9 su* section #c %all be deem$ 
to be a ref]5ce to1 ) respect to any    
,/ate1 a cov]$ indu/rial bank hold+     

company ^: home ,/ate is ano!r ,/ate2 & 
7#g7 any ref]5ce to an out-(-,/ate bank 
9 su* section #c %all be deem$ to be a  
ref]5ce to1 ) respect to any ,/ate1 an  
indu/rial bank ^: home ,/ate is ano!r   
,/ate4  7b7 ,application process ,an    
application fil$ "u subsection 7a7 to   
acquire control ( an indu/rial bank %all
 be treat$ z an application = a deposit 
facility = purposes ( ?is ,act & any o!r
 ,f$]al law4  7c7 ,regi/ration  7#a7 ,9 
g5]al ,ea* cov]$ indu/rial bank hold+   
company %all regi/] ) ! ,bo>d on =ms    
prescrib$ by ! ,bo>d be=e ! end ( !     
#ahj-;day p]iod beg9n+ on ! lat] (--    
7,a7 ! date ! company becomes a cov]$   
indu/rial bank hold+ company2 or  7,b7 !
 date ( enactm5t ( ?is section4  7#b7   
,in=mation to be includ$ ,ea*           
regi/ration submitt$ "u p>agraph 7#a7   
%all include su* in=mation1 "u oa?1 )   
respect to ! f9ancial condition1        
own]%ip1 op]ations1 managem5t1 &        
int]company relation%ips ( ! cov]$      
indu/rial bank hold+ company &          

subsidi>ies ( ! cov]$ indu/rial bank    
hold+ company1 & o!r factors 7includ+   
in=mation describ$ 9 subsection         
7d77#a77;,c771 z ! ,bo>d may det]m9e to 
be appropriate to c>ry out ! purposes ( 
?is section4  7#c7 ,ext5sion ( "t =     
submitt+ complete in=mation ,^u         
application by a cov]$ indu/rial bank   
hold+ company & subject to su*          
requirem5ts1 factors1 & evid5ce z !     
,bo>d may require1 ! ,bo>d may ext5d !  
p]iod describ$ 9 p>agraph 7#a7 )9 :i* ! 
cov]$ indu/rial bank company %all regi/]
 & file ! requisite in=mation4  7d7     
,reports & exam9ations  7#a7 ,reports   
7,a7 ,reports requir$ ,ea* cov]$        
indu/rial bank hold+ company & ea*      
subsidi>y ( a cov]$ indu/rial bank hold+
 company1 o!r ?an an indu/rial bank1    
%all file ) ! ,bo>d su* reports z may be
 requir$ by ! ,bo>d4  7,b7 ,=m & mann]  
,reports fil$ "u subp>agraph 7,a7 %all  
be made "u oa? & %all be 9 su* =m & =   
su* p]iods z ! ,bo>d may prescribe4     
7,c7 ,in=mation ,ea* report fil$ "u     

subp>agraph 7,a7 %all conta9 su*        
in=mation z ! ,bo>d may require         
conc]n+--  7i7 ! op]ations ( ! cov]$    
indu/rial bank hold+ company & !        
subsidi>ies ( ! cov]$ indu/rial bank    
hold+ company2  7ii7 ! f9ancial         
condition ( ! cov]$ indu/rial bank hold+
 company & ! subsidi>ies ( ! cov]$      
indu/rial bank hold+ company1 toge!r )  
in=mation on sy/ems ma9ta9$ )9 ! cov]$  
indu/rial bank hold+ company or )9 any  
subsidi>y ( ! cov]$ indu/rial bank hold+
 company = monitor+ & controll+ f9ancial
 & op]at+ risks1 & transactions ) insur$
 depository in/itution subsidi>ies ( !  
cov]$ indu/rial bank hold+ company2     
7iii7 compliance by ! cov]$ indu/rial   
bank hold+ company & ! subsidi>ies ( !  
cov]$ indu/rial bank hold+ company ) all
 applicable ,f$]al & ,/ate laws2 &  7iv7
 su* o!r in=mation z ! ,bo>d may        
require4  7,d7 ,acceptance ( exi/+      
reports ,= purposes ( ?is p>agraph1 !   
,bo>d may accept reports t a cov]$      
indu/rial bank hold+ company or any     

subsidi>y ( a cov]$ indu/rial bank hold+
 company has provid$ or has be5 requir$ 
to provide to any o!r ,f$]al or ,/ate   
sup]visor or to any appropriate         
self-regulatory organization4  7#b7     
,exam9ations  7,a7 ,9 g5]al ,ea* cov]$  
indu/rial bank hold+ company & ea*      
subsidi>y ( ea* cov]$ indu/rial bank    
hold+ company 7o!r ?an an indu/rial     
bank7 %all be subject to su* exam9ations
 by ! ,bo>d z ! ,bo>d may prescribe =   
purposes ( ?is section4  7,b7 ,furni%+  
reports to o!r ag5cies ,exam9ation & o!r
 reports made or receiv$ "u ?is section 
may be furni%$ by ! ,bo>d to any o!r    
appropriate ,f$]al ag5cy or any         
appropriate ,/ate bank sup]visor or o!r 
,/ate f9ancial sup]visory ag5cy4  7,c7  
,use ( reports f o!r ag5cies ,! ,bo>d   
may use1 = purposes ( ?is subsection1   
reports ( exam9ation made by any o!r    
appropriate ,f$]al ag5cy1 any           
appropriate ,/ate bank sup]visor1 or any
 o!r ,/ate f9ancial sup]visory au?ority 
) respect to any cov]$ indu/rial bank   

hold+ company or subsidi>y ( ! cov]$    
indu/rial bank hold+ company1 to ! ext5t
 ! ,bo>d may det]m9e su* use to be      
feasible = su* purposes4  7#c7 ,capital 
7,a7 ,9 g5]al ,! ,bo>d may n1 by        
regulation1 guidel9e1 ord]1 or o!rwise1 
prescribe or impose any capital or      
capital adequacy rules1 guidel9es1      
/&>ds1 or requirem5ts on any            
functionally regulat$ affiliate 7z def9$
 9 section #de ( ! ,f$]al ,deposit      
,insurance ,act 7#ab ,u4,s4,c4 #ahcav77 
( any depository in/itution t is        
controll$ by a cov]$ indu/rial bank     
hold+ company t--  7i7 is n a depository
 in/itution2 &  7ii7 is--  7,i7 9       
compliance ) ! applicable capital       
requirem5ts ( ! appropriate ,f$]al or   
,/ate sup]visory ag5cy ( ! affiliate    
7includ+ ! ,securities & ,ex*ange       
,commission or ,/ate insurance          
au?ority72  7,,ii7 prop]ly regi/]$ z an 
inve/m5t advis]--  7aa7 "u ! ,inve/m5t  
,advis]s ,act ( #aidj 7#ae ,u4,s4,c4    
#hj;b-#a et seq472 or  7bb7 ) any ,/ate2

 or  7,,iii7 is lic5s$ z an insurance   
ag5t ) ! appropriate ,/ate insurance    
au?ority4  7,b7 ,rule ( con/ruction     
,subp>agraph 7,a7 %all n be con/ru$ z   
prev5t+ ! ,bo>d f impos+ capital or     
capital adequacy rules1 guidel9es1      
/&>ds1 or requirem5ts ) respect to--    
7i7 activities ( a regi/]$ inve/m5t     
advis] o!r ?an ) respect to inve/m5t    
advisory activities or activities       
incid5tal to inve/m5t advisory          
activities2 or  7ii7 activities ( a     
lic5s$ insurance ag5t o!r ?an insurance 
ag5cy activities or activities incid5tal
 to insurance ag5cy activities4  7e7    
,access to in=mation  7#a7 ,in=mation   
provid$ by bo>d ,any confid5tial        
sup]visory in=mation1 includ+ exam9ation
 or o!r reports1 p]ta9+ to a cov]$      
indu/rial bank hold+ company furni%$ by 
! ,bo>d to any o!r ,f$]al ag5cy or any  
appropriate ,/ate sup]visory ag5cy %all 
rema9 confid5tial unless ! ,bo>d1 9     
writ+1 o!rwise cons5ts4  7#b7 ,def]5ce  
to depository in/itution exam9ations    

,any appropriate ,f$]al sup]visory ag5cy
 ( a cov]$ indu/rial bank hold+ company 
%all1 to ! fulle/ ext5t possible1 rely  
on exam9ation reports made by !         
appropriate ,f$]al bank+ ag5cy & !      
appropriate ,/ate bank sup]visor relat+ 
to any depository in/itution subsidi>y (
 ! cov]$ indu/rial bank hold+ company 9 
lieu ( a direct exam9ation4  7#c7       
,in=mation to be provid$ to bo>d  7,a7  
,reque/ to ag5cy ,^u reque/ by ! ,bo>d1 
an appropriate ,f$]al sup]visory ag5cy  
may provide to ! ,bo>d in=mation reg>d+ 
! condition ( an indu/rial bank1 any    
cov]$ indu/rial bank hold+ company ( !  
indu/rial bank1 or any o!r affiliate (  
any su* cov]$ indu/rial bank hold+      
company t is necess>y to assess risk to 
! indu/rial bank4  7,b7 ,availability f 
hold+ company directly ,not)/&+ section 
#de ( ! ,f$]al ,deposit ,insurance ,act 
7#ab ,u4,s4,c4 #ahbe71 section #aae ( ! 
,gramm-,lea*-,bliley ,act 7#ab ,u4,s4,c4
 #ahbj;a71 or any o!r provision ( law   
7includ+ any regulation71 if ! in=mation

 reque/$ "u subp>agraph 7,a7 is n       
provid$ to ! ,bo>d1 & ! in=mation is    
necess>y to assess risk to ! indu/rial  
bank1 ! ,bo>d may require ! cov]$       
indu/rial bank hold+ company or         
affiliate !re( ref]r$ to 9 su*          
subp>agraph ) respect to su* indu/rial  
bank to provide su* in=mation to !      
,bo>d4  7#d7 ,exam9ations by bo>d  7,a7 
,9 g5]al ,subject to subp>agraph 7,b7 & 
not)/&+ section #de ( ! ,f$]al ,deposit 
,insurance ,act 7#ab ,u4,s4,c4 #ahcav71 
section #aae ( ! ,gramm-,lea*-,bliley   
,act 7#ab ,u4,s4,c4 #ahbj;a71 or any o!r
 provision ( law 7includ+ any           
regulation71 no law %all be con/ru$ z   
prev5t+ ! ,bo>d f exam9+ an affiliate ( 
an indu/rial bank z may be necess>y to  
disclose fully ! relation%ip betwe5 !   
indu/rial bank & ! affiliate1 & ! effect
 ( su* relation%ip on ! indu/rial bank1 
if ! ,bo>d f9ds su* exam9ation necess>y 
to det]m9e ! condition ( an indu/rial   
bank4  7,b7 ,functionally regulat$      
affiliates ,be=e ! ,bo>d may exam9e any 

affiliate ( an indu/rial bank t is a    
brok]1 a deal]1 an inve/m5t company1 an 
inve/m5t advisor1 or an entity t is     
subject to consolidat$ sup]vision by !  
,securities & ,ex*ange ,commission1 o!r 
?an a depository in/itution1 ! ,bo>d--  
7i7 %all reque/ ! ,commission to provide
 ! in=mation t ! ,bo>d is seek+ to obta9
 ?r\gh exam9ation2 &  7ii7 may proce$ ) 
! exam9ation only if ! reque/$ in=mation
 is n provid$ by ! ,commission 9 a      
timely mann]4  7f7 ,limitation on       
control  7#a7 ,9 g5]al ,except z provid$
 9 p>agraph 7#c7 or 7#d71 no indu/rial  
bank may be controll$1 directly or      
indirectly1 by a comm]cial firm4  7#b7  
,comm]cial firm def9$ ,= purposes ( ?is 
section1 ! t]m comm]cial firm means any 
entity t d]ives any am\nt ( rev5ue f    
activities t are n f9ancial 9 nature1 or
 incid5tal to a f9ancial activity z     
def9$ 9 section #d7k74  7#c7 ,pre-#bjai 
exclusions = c]ta9 indu/rial banks  7,a7
 ,gr&fa!r$ in/itutions ,p>agraph 7#a7   
%all n apply ) respect to any indu/rial 

bank--  7i7 t became an insur$          
depository in/itution be=e ,octob] #a1  
#bjai1 or pursuant to an application =  
deposit insurance t 0 approv$ by !      
,f$]al ,deposit ,insurance ,corporation 
be=e su* date2 &  7ii7 ) respect to :i* 
!re is no *ange 9 control1 directly or  
indirectly1 ( ! bank aft] ,septemb] #cj1
 #bjai1 t requires a regi/ration "u ?is 
section or an application "u section    
#g7;j7 or #ah7;c7 ( ! ,f$]al ,deposit   
,insurance ,act 7#ab ,u4,s4,c4          
#ahag7;j71 #ahbh7;c771 section #c ( ?is 
,act1 or section #aj ( ! ,home ,own]s'  
,loan ,act 7#ab ,u4,s4,c4 #adfg;a71     
except a direct or indirect *ange (     
control 9 :i*--  7,i7 imm$iately prior  
to su* *ange 9 control ! acquir+ company
 is a bank hold+ company1 a f9ancial    
hold+ company1 a sav+s & loan hold+     
company1 or a hold+ company regulat$ by 
! ,securities & ,ex*ange ,commission    
pursuant to section                     
#bdj4ae;c#c-a7;a77#g7 ( title #ag1 ,code
 ( ,f$]al ,regulations1 z 9 effect on   

,augu/ #a1 #bjai2  7,,ii7 ! result+     
hold+ company is a bank hold+ company1 a
 f9ancial hold+ company1 a sav+s & loan 
hold+ company1 or a hold+ company       
regulat$ by ! ,securities & ,ex*ange    
,commission pursuant to section         
#bdj4ae;c#c-a7;a77#g7 ( title #ag1 ,code
 ( ,f$]al ,regulations1 z 9 effect on   
,octob] #a1 #bjai2 &  7,,iii7 ! result+ 
ultimate hold+ company is subject to    
consolidat$ sup]vision by ! ,bo>d or a  
hold+ company regulat$ by ! ,securities 
& ,ex*ange ,commission pursuant to      
section #bdj4ae;c#c-a7;a77#g7 ( title   
#ag1 ,code ( ,f$]al ,regulations1 z 9   
effect on ,octob] #a1 #bjai4  7,b7      
,corporate reorganizations p]mitt$ ,!   
acquisition ( direct or indirect control
 ( an indu/rial bank ref]r$ to 9        
subp>agraph 7,a77ii7 %all n be treat$ z 
a *ange 9 control = purposes ( t        
subp>agraph if--  7i7 ! company acquir+ 
control is itself directly or indirectly
 controll$ by a company t 0 an affiliate
 ( ! indu/rial bank on ! date ref]r$ to 

9 t subp>agraph1 & rema9s an affiliate  
at all times aft] t date2 &  7ii7 !     
transaction ?r\gh :i* ! company acquir$ 
control ( ! indu/rial bank con/itut$    
solely a corporate reorganization ( a   
company t controll$ ! indu/rial bank on 
! date ref]r$ to 9 t subp>agraph4  7#d7 
,pre-#bjai exclusions = comm]cial firms 
7,a7 ,gr&fa!r$ comm]cial firms ,p>agraph
 7#a7 %all n apply to any comm]cial     
firm--  7i7 t became a cov]$ indu/rial  
bank hold+ company by virtue ( acquir+  
control ( an indu/rial bank be=e ,octob]
 #a1 #bjai2  7ii7 t did n acquire       
control ( any o!r depository in/itution 
aft] ,octob] #a1 #bjai2  7iii7 ) respect
 to :i* !re is no *ange 9 control1      
directly or indirectly1 ( any depository
 in/itution subsidi>y aft] ,octob] #a1  
#bjai1 t requires a regi/ration "u ?is  
section or an application "u section    
#g7;j7 or #ah7;c7 ( ! ,f$]al ,deposit   
,insurance ,act 7#ab ,u4,s4,c4          
#ahag7;j71 #ahbh7;c771 section #c ( ?is 
,act1 or section #aj ( ! ,home ,own]s'  

,loan ,act 7#ab ,u4,s4,c4 #adfg;a72 &   
7iv7 ea* indu/rial bank subsidi>y ( :i* 
rema9s 9 compliance ) ! limitations     
conta9$ 9 subp>agraph 7,b74  7,b7       
,activity & bran*+ limitations ,an      
indu/rial bank subsidi>y ( a comm]cial  
firm describ$ 9 clauses 7i71 7ii71 &    
7iii7 ( subp>agraph 7,a7 is 9 compliance
 ) ! requirem5ts ( ?is subp>agraph =    
purposes ( subp>agraph 7,a77iv7 if !    
indu/rial bank--  7i7 engages only 9    
activities 9 :i* ! indu/rial bank 0     
engag$ on ,octob] #a1 #bjai2 &  7ii7    
does n acquire1 e/abli%1 or op]ate any  
bran*1 deposit production (fice1 loan   
production (fice1 automat$ tell] ma*9e1 
or remote s]vice unit 9 any ,/ate o!r   
?an ! home ,/ate ( ! bank or any ho/    
,/ate 9 :i* su* bank op]at$ bran*es on  
,octob] #a1 #bjai4  7,c7 ,corporate     
reorganizations p]mitt$ ,! acquisition (
 direct or indirect control ( a         
depository in/itution subsidi>y ref]r$  
to 9 subp>agraph 7,a77iii7 %all n be    
treat$ z a *ange 9 control = purposes ( 

t subp>agraph if--  7i7 ! company       
acquir+ control is itself directly or   
indirectly controll$ by a company t 0 an
 affiliate ( su* subsidi>y on ! date    
ref]r$ to 9 t subp>agraph1 & rema9s an  
affiliate at all times aft] t date2 &   
7ii7 ! transaction ?r\gh :i* ! company  
acquir$ control ( ! depository          
in/itution con/itut$ solely a corporate 
reorganization ( a company t controll$ !
 depository in/itution on ! date ref]r$ 
to 9 t subp>agraph4  7g7 ,proc$ures &   
tim+ = t]m9ation ( activities or        
dive/iture  7#a7 ,transition provision  
7,a7 ,9 g5]al ,any cov]$ indu/rial bank 
hold+ company t fails to comply ) !     
provisions ( subsection 7f7 %all dive/  
its own]%ip or control ( ea* indu/rial  
bank subsidi>y ( ! cov]$ indu/rial bank 
hold+ company n lat] ?an ! end ( !      
#b-ye> p]iod beg9n+ on ! fir/ date t !  
cov]$ indu/rial bank hold+ company ceas$
 to comply ) subsection 7f74  7,b7      
,ext5sion ( "t p]iod  7i7 ,9 g5]al ,^u  
application by a cov]$ indu/rial bank   

hold+ company1 ! appropriate ,f$]al     
sup]visory ag5cy ( ! cov]$ indu/rial    
bank hold+ company may ext5d ! #b-ye>   
p]iod ref]r$ to 9 subp>agraph 7,a7 )    
respect to ! cov]$ indu/rial bank hold+ 
company = n m ?an #a ye> if1 9 ! judgm5t
 ( ! ,f$]al sup]visory ag5cy1 ! ext5sion
 w\ld n be detrim5tal to ! public       
int]e/4  7ii7 ,factors ,9 mak+ any      
decision to grant an ext5sion "u clause 
7i7 to a cov]$ indu/rial bank hold+     
company1 ! appropriate ,f$]al sup]visory
 ag5cy ( ! cov]$ indu/rial bank hold+   
company %all consid] :e!r--  7,i7 !     
cov]$ indu/rial bank hold+ company has  
made a good fai? ef=t to dive/ ^?       
int]e/s2 &  7,,ii7 su* ext5sion is      
necess>y to av]t sub/antial loss to !   
cov]$ indu/rial bank hold+ company4     
7#b7 ,conditions be=e dive/iture ,dur+ !
 #b-ye> p]iod ref]r$ to 9 p>agraph      
7#a77;,a7 ) respect to any cov]$        
indu/rial bank hold+ company & any      
ext5sion ( t p]iod1 ! appropriate ,f$]al
 sup]visory ag5cy may impose any        

conditions or re/rictions on ! cov]$    
indu/rial bank hold+ company or any     
subsidi>y ( ! cov]$ indu/rial bank hold+
 company 7o!r ?an a bank71 includ+      
re/rict+ or prohibit+ transactions      
betwe5 ! cov]$ indu/rial bank hold+     
company or subsidi>y & any depository   
in/itution subsidi>y ( ! cov]$ indu/rial
 bank hold+ company1 z are appropriate  
"u ! circum/ances4  7#c7 ,t]m9ation (   
activities or dive/iture ( nonbank      
subsidi>ies con/itut+ s]i\s risk  7,a7  
,9 g5]al ,not)/&+ any o!r provision (   
?is section1 ! appropriate ,f$]al       
sup]visory ag5cy may1 :5ev] su* ag5cy   
has reasonable cause to believe t !     
cont9uation by a cov]$ indu/rial bank   
hold+ company ( any activity or (       
own]%ip or control ( any nonbank        
subsidi>y ( ! cov]$ indu/rial bank hold+
 company1 o!r ?an a nonbank subsidi>y ( 
a depository in/itution1 con/itutes a   
s]i\s risk to ! f9ancial safety1        
s\ndness1 or /ability ( a depository    
in/itution subsidi>y ( ! cov]$ indu/rial

 bank hold+ company & is inconsi/5t )   
s\nd bank+ pr9ciples or ) ! purposes (  
?is section1 at ! election ( ! cov]$    
indu/rial bank hold+ company--  7i7 ord]
 ! cov]$ indu/rial bank hold+ company or
 any nonbank subsidi>y ( ! cov]$        
indu/rial bank hold+ company1 aft] due  
notice & opportunity = he>+1 & aft]     
consid]+ ! views ( ! appropriate ,f$]al 
bank+ ag5cy &1 if applicable1           
appropriate ,/ate bank sup]visor1 to    
t]m9ate ^? activities or to t]m9ate 7)9 
#abj days or su* long] p]iod z !        
appropriate ,f$]al sup]visory ag5cy may 
direct 9 unusual circum/ances7 ! own]%ip
 or control by ! cov]$ indu/rial bank   
hold+ company or nonbank subsidi>y ( !  
depository in/itution subsidi>y ei!r by 
sale or by di/ribution ( ! %>es ( !     
depository in/itution subsidi>y1 9      
accordance ) subp>agraph 7,b71 to !     
%>ehold]s ( ! cov]$ indu/rial bank hold+
 company2 or  7ii7 ord] ! cov]$         
indu/rial bank hold+ company1 aft] due  
notice & opportunity = he>+1 & aft]     

consultation ) ! appropriate ,/ate bank 
sup]visor = ! indu/rial bank controll$  
by ! cov]$ indu/rial bank hold+ company1
 to t]m9ate 7)9 #abj days or su* long]  
p]iod z ! appropriate ,f$]al sup]visory 
ag5cy may direct7 ! own]%ip or control (
 any su* indu/rial bank by ! cov]$      
indu/rial bank hold+ company4  7,b7 ,pro
 rata di/ribution ,any di/ribution to   
%>ehold]s ref]r$ to 9 clause 7i7 %all be
 pro rata ) respect to all ( ! %>ehold]s
 ( ! di/ribut+ cov]$ indu/rial bank     
hold+ company1 & ! di/ribut+ cov]$      
indu/rial bank hold+ company %all n make
 any *>ge to any %>ehold] 9 connection )
 t di/ribution4  7#d7 ,hold+ company    
responsibility  7,a7 ,s\rce ( /r5g?     
,not)/&+ section #de ( ! ,f$]al ,deposit
 ,insurance ,act 7#ab ,u4,s4,c4 #ahcav71
 a cov]$ indu/rial bank hold+ company-- 
7i7 %all s]ve z a s\rce ( f9ancial &    
manag]ial /r5g? to ! subsidi>y banks ( !
 cov]$ indu/rial bank hold+ company 9 ! 
same mann] z requir$ "u section #ch;,a (
 ! ,f$]al ,deposit ,insurance ,act 7#ab 

,u4,s4,c4 #ahcao-#a72 &  7ii7 %all n    
conduct ! op]ations ( ! cov]$ indu/rial 
bank hold+ company 9 an unsafe or uns\nd
 mann]4  7,b7 ,implem5tation ,!         
appropriate ,f$]al sup]visory ag5cy ( a 
cov]$ indu/rial bank hold+ company %all 
implem5t ! requirem5ts "u subp>agraph   
7,a7 ) respect to t indu/rial bank hold+
 company4  7h7 ,=eign bank own]%ip ,aft]
 ,octob] #a1 #bjai1 no =eign bank may   
acquire1 directly or indirectly1 control
 ( an indu/rial bank4  7i7 ,adm9i/rative
 provisions  7#a7 ,ag5t = s]vice (      
process ,! ,bo>d may require any cov]$  
indu/rial bank hold+ company1 or p]sons 
connect$ ) ! cov]$ indu/rial bank hold+ 
company if x is n a corporation1 to     
execute & file a prescrib$ =m (         
irrevocable appo9tm5t ( ag5t = s]vice ( 
process4  7#b7 ,release f regi/ration ,!
 ,bo>d may at any "t1 ^u a motion by !  
,bo>d or ^u application1 release a      
regi/]$ cov]$ indu/rial bank hold+      
company f any regi/ration previ\sly made
 by ! cov]$ indu/rial bank hold+        

company1 if ! ,bo>d det]m9es t ! cov]$  
indu/rial bank hold+ company no long]   
controls any indu/rial bank4  7j7       
,def9ition ,9 ?is section3  7#a7        
,appropriate f$]al sup]visory ag5cy ,!  
t]m appropriate ,f$]al sup]visory ag5cy 
means1 ) respect to a company t controls
 an indu/rial bank--  7,a7 ! ,bo>d1 9 ! 
case ( a company t is a bank hold+      
company1 a company t is a cov]$         
indu/rial bank hold+ company1 a company 
t is a sav+s & loan hold+ company1 or a 
company t is subject to ?is ,act        
pursuant to section #h7;a7 ( !          
,int]national ,bank+ ,act ( #aigh 7#ab  
,u4,s4,c4 #cajf7;a772 or  7,b7 !        
,securities & ,ex*ange ,commission1 9 ! 
case ( a company t is regulat$ by !     
,commission pursuant to section         
#bdj4ae;c#c-a7;a77#g7 ( title #ag1 ,code
 ( ,f$]al ,regulations1 z 9 effect on   
,augu/ #a1 #bjai4  7#b7 ,rule (         
con/ruction ,"u ! def9ition ( ! t]m     
appropriate ,f$]al sup]visory ag5cy 9   
p>agraph 7#a71 m ?an #a ag5cy may be an 

appropriate ,f$]al sup]visory ag5cy )   
respect to any giv5 company t controls  
an indu/rial bank4  4  7c7 ,en=cem5t    
,section #h ( ! ,f$]al ,deposit         
,insurance ,act 7#ab ,u4,s4,c4 #ahah7 is
 am5d$--  7#a7 9 subsection 7b71 by add+
 at ! end ! foll[+3  7#aa7 ,indu/rial   
bank hold+ companies ,?is subsection &  
subsections 7c7 ?r\gh 7s7 & subsection  
7u7 ( ?is section %all apply to any     
cov]$ indu/rial bank hold+ company & to 
any subsidi>y 7o!r ?an a depository     
in/itution7 ( a cov]$ indu/rial bank    
hold+ company 9 ! same mann] z ^?       
subsections apply to ,/ate nonmemb]     
insur$ banks4  2  7#b7 9 subsection     
7h77#b71 by /rik+ ,any p>ty to & ins]t+ 
,any p>ty aggriev$ by an ord] ( any     
appropriate ,f$]al sup]visory ag5cy "u  
section #ae ( ! ,bank ,hold+ ,company   
,act ( #aief or any p>ty to2 &  7#c7 9  
subsection 7i71 by /rik+ or #ci ea*     
place t t]m appe>s & ins]t+ 1 #ci1 or   
section #ae ( ! ,bank ,hold+ ,company   
,act ( #aief4  7d7 ,prompt corrective   

action ,section #ch7;f77#b77;,h7 ( !    
,f$]al ,deposit ,insurance ,act 7#ab    
,u4,s4,c4 #ahcao7f77#b77;,h77 is am5d$--
  7#a7 9 ! subp>agraph head+1 by ins]t+ 
or indu/rial bank hold+ company aft]    
company2  7#b7 by /rik+ ,prohibit+ any  
bank & ins]t+ ! foll[+3  7i7 ,bank hold+
 company ,prohibit+ any bank  2 &  7#c7 
by add+ at ! end ! foll[+3  7ii7        
,indu/rial bank hold+ company ,prohibit+
 any cov]$ indu/rial bank hold+ company 
hav+ control ( ! insur$ depository      
in/itution f mak+ any capital           
di/ribution )\t ! prior approval ( !    
,bo>d4  4  7e7 ,te*nical & con=m+       
am5dm5ts  7#a7 ,bank ,hold+ ,company    
,act ( #aief ,section #ad7;a77#b7 ( !   
,bank ,hold+ ,company ,act ( #aief 7#ab 
,u4,s4,c4 #aheb7;a77#b77 is am5d$--     
7,a7 9 subp>agraph 7,e71 by /rik+ & at !
 end2 &  7,b7 by ins]t+ aft] subp>agraph
 7,f7 ! foll[+3  7,g7 a cov]$ indu/rial 
bank hold+ company2 &  4  7#b7 ,f$]al   
,deposit ,insurance ,act ,section #c ( !
 ,f$]al ,deposit ,insurance ,act 7#ab   

,u4,s4,c4 #ahac7 is am5d$--  7,a7 9     
subsection 7a71 by add+ at ! end !      
foll[+3  7#d7 ,indu/rial bank ,! t]m    
indu/rial bank has ! mean+ giv5 ! t]m 9 
section #b ( ! ,bank ,hold+ ,company    
,act ( #aief 7#ab ,u4,s4,c4 #ahda74  2  
7,b7 9 subsection 7q77#c7--  7i7 9      
subp>agraph 7,f71 by /rik+ & at ! end2  
7ii7 9 subp>agraph 7,g71 by /rik+ !     
p]iod & ins]t+ 2 &2 &  7iii7 by ins]t+  
aft] subp>agraph 7,g7 ! foll[+3  7,h7   
any cov]$ indu/rial bank hold+ company1 
& any subsidi>y ( an indu/rial bank     
hold+ company 7o!r ?an a depository     
in/itution74  2 &  7,c7 9 subsection    
7w7--  7i7 9 p>agraph 7#a71 by /rik+ or 
a sav+s & loan hold+ company & ins]t+ 1 
a sav+s & loan hold+ company1 or a cov]$
 indu/rial bank hold+ company2 &  7ii7  
by add+ at ! end ! foll[+3  7#h7 ,cov]$ 
indu/rial bank hold+ company ,! t]m     
cov]$ indu/rial bank hold+ company has !
 mean+ giv5 ! t]m 9 section #b ( ! ,bank
 ,hold+ ,company ,act ( #aief 7#ab      
,u4,s4,c4 #ahda74  4  7#c7 ,gramm-,lea* 

,bliley ,act ,section #aae ( !          
,gramm-,lea*-,bliley ,act 7#ab ,u4,s4,c4
 #ahbj;a7 is am5d$--  7,a7 9 subsection 
7a71 by /rik+ or aft] bank hold+ company
 & ins]t+ 1 cov]$ indu/rial bank hold+  
company1 or2 &  7,b7 9 subsection 7d7-- 
7i7 by r$esignat+ p>agraphs 7#e71 7#f71 
& 7#g7 z p>agraphs 7#f71 7#g71 & 7#h71  
respectively2 &  7ii7 by ins]t+ aft]    
p>agraph 7#d7 ! foll[+3  7#e7 ,cov]$    
indu/rial bank hold+ company ,! t]m     
cov]$ indu/rial bank hold+ company has !
 mean+ giv5 ! t]m 9 section #b ( ! ,bank
 ,hold+ ,company ,act ( #aief 7#ab      
,u4,s4,c4 #ahda74  4  7#d7 ,home        
,mortgage ,disclosure ,act ( #aige      
,section #cjd7;g77#a7 ( ! ,home         
,mortgage ,disclosure ,act ( #aige 7#ab 
,u4,s4,c4 #bhjc7;g77#a77 is am5d$ by    
ins]t+ 1 cov]$ indu/rial bank hold+     
company 7z def9$ 9 section #b ( ! ,bank 
,hold+ ,company ,act ( #aief 7#ab       
,u4,s4,c4 #ahda71 aft] bank hold+       
company4  7#e7 ,"r to ,f9ancial ,privacy
 ,act ( #aigh ,section #aaja7f7 ( ! ,"r 

to ,f9ancial ,privacy ,act ( #aigh 7#ab 
,u4,s4,c4 #cdja7f77 is am5d$--  7,a7 9  
subp>agraph 7,a71 by /rik+ & at ! end2 &
  7,b7 by add+ at ! end ! foll[+3  7,c7 
any cov]$ indu/rial bank hold+ company  
7z def9$ 9 section #b ( ! ,bank ,hold+  
,company ,act ( #aief 7#ab ,u4,s4,c4    
#ahda772 &  4  #c4 ,regulations ,! ,bo>d
 ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em  
%all prescribe su* regulations z ! ,bo>d
 det]m9es to be appropriate to c>ry out 
! am5dm5ts made by ?is ,act4