,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #cabc  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,decemb] #ai1 #bjai,mr4
 ,tillis 7= himself & ,ms4 ,s9ema7      
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to am5d ! ,home ,own]s' ,loan  
,act ) respect to ! regi/ration &       
sup]vision ( insurance sav+s & loan     
hold+ companies1 & = o!r purposes4  #a4 
,%ort title ,?is ,act may be cit$ z !   
,/ate ,insurance ,regulation            
,pres]vation ,act4  #b4 ,sup]vision (   
insurance sav+s & loan hold+ companies  
7a7 ,def9itions ,section #aj7;a77#a7 ( !
 ,home ,own]s' ,loan ,act 7#ab ,u4,s4,c4
 #adfg;a7a77#a77 is am5d$ by add+ at !  
end ! foll[+3  7,k7 ,domicile ,! t]m    
domicile means ! ,/ate 9 :i* an         
insurance und]writ+ company or ! hold+  
company = ! insurance und]writ+ company 
is incorporat$1 *>t]$1 or organiz$4     
7,l7 ,bus9ess ( insurance ,! t]m bus9ess
 ( insurance means any activity t is    

regulat$ 9 accordance ) ! relevant ,/ate
 insurance laws & regulations1 includ+ !
 writ+ ( insurance & ! re9sur+ ( risks4 
7,m7 ,insurance sav+s & loan hold+      
company ,! t]m insurance sav+s & loan   
hold+ company means-- 7i7 a sav+s & loan
 hold+ company ) #ge p]c5t or m ( its   
total consolidat$ assets 9 n less ?an #a
 insurance und]writ+ company1 o!r ?an   
assets associat$ ) insurance = cr$it    
risk1 dur+ ! #d mo/ rec5t consecutive   
qu>t]s1 z calculat$ 9 accordance )      
g5]ally accept$ acc\nt+ pr9ciples or !  
/atutory acc\nt+ pr9ciples 9 accordance 
) ,/ate law2  7ii7 a company t-- 7,i7 0 
a sav+s & loan hold+ company z ( ,july  
#ba1 #bjaj1 & ?r\gh date ( enactm5t (   
?is clause2 &  7,,ii7 0 n subject to !  
,basel ,,iii capital regulation         
promulgat$ by ! ,bo>d ( ,gov]nors ( !   
,f$]al ,res]ve ,sy/em & ! ,comptroll] ( 
! ,curr5cy on ,octob] #aa1 #bjac 7#gh   
,f$4 ,reg4 #fbjah71 because ! sav+s &   
loan hold+ company held #be p]c5t or m (
 its total consolidat$ assets 9         

subsidi>ies t are insurance und]writ+   
companies 7o!r ?an assets associat$ )   
insurance = cr$it risk72 or  7iii7 a    
top-ti] sav+s & loan hold+ company t--  
7,i7 0 regi/]$ z a sav+s & loan hold+   
company be=e ,july #ba1 #bjaj2 &  7,,ii7
 is a ,new ,york n-=-pr(it corporation  
=m$ = ! purpose ( hold+ ! /ock ( a ,new 
,york insurance company4  7,n7          
,insurance und]writ+ company ,! t]m     
insurance und]writ+ company means an    
insur] t is subject to regulation by a  
,/ate insurance au?ority ( ! domicile ( 
! insur]4  7,o7 ,/ate insurance au?ority
 ,! t]m ,/ate insurance au?ority means !
 ,/ate insurance au?ority ( ! ,/ate 9   
:i* an insurance und]writ+ company or ! 
hold+ company = ! insurance und]writ+   
company is domicil$4  7,p7 ,top-ti]     
sav+s & loan hold+ company ,! t]m       
top-ti] sav+s & loan hold+ company means
 ! ultimate p>5t company 9 a sav+s &    
loan hold+ company /ructure4  4  7b7    
,regi/ration ,section #aj7;b77#a7 ( !   
,home ,own]s' ,loan ,act 7#ab ,u4,s4,c4 

#adfg;a7b77#a77 is am5d$ by add+ at !   
end ! foll[+3 ,a sav+s & loan hold+     
company t is an insurance sav+s & loan  
hold+ company %all regi/] z an insurance
 sav+s & loan hold+ company44  7c7      
,reports ,section #aj7;b77#b7 ( ! ,home 
,own]s' ,loan ,act 7#ab ,u4,s4,c4       
#adfg;a7b77#b77 is am5d$ by add+ at !   
end ! foll[+3  7,d7 ,insurance sav+s &  
loan hold+ companies ,! ,bo>d1 to !     
fulle/ ext5t possible1 %all reque/      
reports & o!r in=mation fil$ by         
insurance sav+s & loan hold+ companies &
 any insurance und]writ+ company t is a 
subsidi>y ( ! insurance sav+s & loan    
hold+ company ) o!r ,f$]al au?orities & 
! ,/ate insurance au?ority = ! insurance
 sav+s & loan hold+ company be=e reque/+
 ^? reports or in=mation f ! insurance  
sav+s & loan hold+ company or any       
insurance und]writ+ company t is a      
subsidi>y ( ! insurance sav+s & loan    
hold+ company4  7,e7 ,rule ( con/ruction
 ,no?+ 9 ?is section may be con/ru$ z   
prohibit+ ! ,bo>d f reque/+ reports &   

o!r in=mation t is n o!rwise collect$ & 
%>$ ) o!r ,f$]al or ,/ate au?orities4  4
  7d7 ,books & records ,section         
#aj7;b77#c7 ( ! ,home ,own]s' ,loan ,act
 7#ab ,u4,s4,c4 #adfg;a7b77#c77 is      
am5d$-- 7#a7 by /rik+ ,ea* & ins]t+ !   
foll[+3  7,a7 ,9 g5]al ,ea*  2 &  7#b7  
by ins]t+ at ! end ! foll[+3  7,b7      
,insurance sav+s & loan hold+ companies 
,! ,bo>d1 to ! fulle/ ext5t possible1   
%all align any prescrib$ recordkeep+    
requirem5ts = an insurance sav+s & loan 
hold+ company ) ! recordkeep+           
requirem5ts impos$ by ! ,/ate insurance 
au?ority ( ! insurance sav+s & loan     
hold+ company & any insurance und]writ+ 
company t is a subsidi>y ( ! insurance  
sav+s & loan hold+ company4  4  7e7     
,exam9ations ,section #aj7;b77#d77;,c7 (
 ! ,home ,own]s' ,loan ,act 7#ab        
,u4,s4,c4 #adfg;a7b77#d77;,c77 is       
am5d$-- 7#a7 9 clause 7i71 by /rik+ ! ^w
 & at ! end2  7#b7 9 clause 7ii71 by    
/rik+ ! p]iod at ! end & ins]t+ 2 &2 &  
7#c7 by add+ at ! end ! foll[+3  7iii7  

,insurance sav+s & loan hold+ companies 
7,i7 ,coord9ation ,! ,bo>d1 to ! fulle/ 
ext5t possible1 %all coord9ate          
exam9ations ( an insurance sav+s & loan 
hold+ company 9 conjunction ) ! ,/ate   
insurance au?ority ( ! insurance sav+s &
 loan hold+ company & any insurance     
und]writ+ company t is a subsidi>y (    
insurance sav+s & loan hold+ company &  
o!r ,/ate & ,f$]al au?orities 9 ord] to 
m9imize ! pot5tial = duplication &      
conflict betwe5 ! exam9ations conduct$  
by ! ,bo>d & ! exam9ations conduct$ by  
o!r ,/ate & ,f$]al au?orities4  7,,ii7  
,scope & frequ5cy ,foll[+ public notice 
& comm5t1 ! ,bo>d %all e/abli% a s*$ule 
= ! frequ5cy & ! scope ( exam9ations (  
insurance sav+s & loan hold+ companies t
 is consi/5t ) ! sup]visory framework   
requir$ "u p>agraph 7#g74  4  7f7       
,sup]vision ,section #aj7;b7 ( ! ,home  
,own]s' ,loan ,act 7#ab ,u4,s4,c4       
#adfg;a7b77 is am5d$ by ins]t+ at ! end 
! foll[+3  7#g7 ,insurance sav+s & loan 
hold+ companies  7,a7 ,tailor$          

sup]vision ,! ,bo>d1 by rule1 %all      
e/abli% a sup]visory framework =        
insurance sav+s & loan hold+ companies  
t--  7i7 is tailor$ to ! unique risks1  
op]ations1 & activities ( insurance     
sav+s & loan hold+ companies2 &  7ii7 to
 ! fulle/ ext5t possible1 & consi/5t ) !
 safe & s\nd op]ation ( insurance sav+s 
& loan hold+ companies1 does n          
unnecess>ily duplicate ! sup]vision (   
insurance und]writ+ companies by ! ,/ate
 insurance au?orities = insurance sav+s 
& loan hold+ companies or insurance     
und]writ+ companies t are subsidi>ies ( 
insurance sav+s & loan hold+ companies4 
7,b7 ,review ( sup]visory guidance      
,foll[+ public notice & comm5t1 ! ,bo>d 
%all review & revise sup]visory policy  
lett]s & guidance applicable to         
insurance sav+s & loan hold+ companies  
to ensure t ^? lett]s & guidance are n  
inconsi/5t ) ! sup]visory framework     
requir$ "u ?is p>agraph4  4  #c4        
,assessm5ts & fees = insurance sav+s &  
loan hold+ companies ,! second          

subsection 7s7 ( section #aa ( ! ,f$]al 
,res]ve ,act 7#ab ,u4,s4,c4 #bdh2 relat+
 to assessm5ts & fees7 is am5d$ by add+ 
at ! end ! foll[+3  7#d7 ,exclud$ assets
 ,= purposes ( p>agraph 7#b77;,b71 !    
total consolidat$ assets ( an insurance 
sav+s & loan hold+ company1 z def9$ 9   
section #aj7;a77#a7 ( ! ,home ,own]s'   
,loan ,act 7#ab ,u4,s4,c4               
#adfg;a7a77#a771 %all n include assets  
attributable to ! bus9ess ( insurance   
conduct$ by ! insurance sav+s & loan    
hold+ company or any affiliate ( !      
insurance sav+s & loan hold+ company1   
o!r ?an assets associat$ ) insurance =  
cr$it risk4  4  #d4 ,implem5tation  7a7 
,def9ition ( ,bo>d ,9 ?is section1 ! t]m
 ,bo>d means ! ,bo>d ( ,gov]nors ( !    
,f$]al ,res]ve ,sy/em4  7b7             
,implem5tation ( sup]visory framework ,n
 lat] ?an #b ye>s aft] ! date ( enactm5t
 ( ?is ,act1 ! ,bo>d %all e/abli% !     
sup]visory framework requir$ "u p>agraph
 7#g7 ( section #aj7;b7 ( ! ,home       
,own]s' ,loan ,act 7#ab ,u4,s4,c4       

#adfg;a7b771 z add$ by ?is ,act4  7c7   
,review ( sup]visory guidance ,n lat]   
?an #cj mon?s aft] ! date ( enactm5t (  
?is ,act1 ! ,bo>d %all complete ! review
 ( sup]visory policy lett]s & policy    
guidance requir$ "u p>agraph 7#g7 (     
section #aj7;b7 ( ! ,home ,own]s' ,loan 
,act 7#ab ,u4,s4,c4 #adfg;a7b771 z add$ 
by ?is ,act4  7d7 ,report to congress ,n
 lat] ?an #c ye>s aft] ! date ( enactm5t
 ( ?is ,act1 ! ,bo>d %all submit to !   
,committee on ,bank+1 ,h\s+1 & ,urban   
,affairs ( ! ,s5ate & ! ,committee on   
,f9ancial ,s]vices ( ! ,h\se (          
,repres5tatives a report on !           
implem5tation ( ?is ,act4  #e4          
,relation%ip to o!r laws ,?is ,act & !  
am5dm5ts made by ?is ,act %all n limit  
any au?ority ov] insurance sav+s & loan 
hold+ companies1 z def9$ 9 section      
#aj7;a77#a7 ( ! ,home ,own]s' ,loan ,act
 7#ab ,u4,s4,c4 #adfg;a7a77#a771 z add$ 
by ?is ,act1 t is provid$ by a ,f$]al   
law o!r ?an ! ,home ,own]s' ,loan ,act  
7#ab ,u4,s4,c4 #adfa et seq474  #f4     

,rulemak+ au?ority ,! ,bo>d may issue   
regulations & ord]s z may be necess>y   
to-- 7#a7 adm9i/] & c>ry out ?is ,act & 
! am5dm5ts made by ?is ,act2 &  7#b7    
prev5t evasions ( ?is ,act & ! am5dm5ts 
made by ?is ,act4  #g4 ,rule (          
con/ruction ,no?+ 9 ?is ,act or !       
am5dm5ts made by ?is ,act may be con/ru$
 to affect ! au?ority ( ! ,bo>d (       
,gov]nors ( ! ,f$]al ,res]ve ,sy/em ov] 
any subsidi>y ( an insurance sav+s &    
loan hold+ company t is n an insurance  
und]writ+ company1 z ^? t]ms are def9$ 9
 section #aj7;a77#a7 ( ! ,home ,own]s'  
,loan ,act 7#ab ,u4,s4,c4               
#adfg;a7a77#a771 z add$ by ?is ,act4