,,ii  #aafth ,,congress  #b;d ,session  
,s4 #cejb  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,march #af1    
#bjbj,mr4 ,cramer 7for himself1 ,mr4    
,cotton1 ,mr4 ,tillis1 and ,mr4 ,moran7 
introduced the following bill2 which was
 read twice and referred to the         
,committee on ,banking1 ,housing1 and   
,urban ,affairs  ,a ,,bill  ,to delay   
the implementation date of the current  
expected credit losses methodology for  
estimating allowances for credit losses1
 and for other purposes4  #a4 ,short    
title ,this ,act may be cited as the    
,community ,bank ,regulatory ,relief    
,act4  #b4 ,delayed implementation date 
for ,,cecl  7a7 ,definitions ,in this   
section-- 7#a7 the term ,,cecl means the
 accounting standard in ,accounting     
,standards ,update #bjaf-ac1 ,financial 
,instruments--,credit ,losses 7,topic   
#cbf71 issued by the ,financial         
,accounting ,standards ,board in ,june  
#bjaf1 as amended by ,accounting        
,standards ,update #bjah-ai1            

,codification ,improvements to ,topic   
#cbf1 ,financial ,instruments--,credit  
,losses1 issued by the ,financial       
,accounting ,standards ,board in        
,november #bjah2 and  7#b7 the term     
,federal financial regulators means--   
7,a7 the ,department of the ,treasury2  
7,b7 the ,board of ,governors of the    
,federal ,reserve ,system2  7,c7 the    
,bureau of ,consumer ,financial         
,protection2  7,d7 the ,office of the   
,comptroller of the ,currency2  7,e7 the
 ,commodity ,futures ,trading           
,commission2  7,f7 the ,federal ,deposit
 ,insurance ,corporation2  7,g7 the     
,federal ,housing ,finance ,agency2     
7,h7 the ,national ,credit ,union       
,administration2 and  7,i7 the          
,securities and ,exchange ,commission4  
7b7 ,delay ,no ,federal agency1         
including any of the ,federal financial 
regulators1 may require a person to use 
,,cecl for any purpose with respect to  
any fiscal year that begins before      
,december #ca1 #bjbd4  #c4 ,community   

,bank ,leverage ,ratio  7a7 ,in general 
,section #bja of the ,economic ,growth1 
,regulatory ,relief1 and ,consumer      
,protection ,act 7#ab ,u4,s4,c4 #ecga   
note7 is amended-- 7#a7 by striking     
subsection 7b7 and inserting the        
following3  7b7 ,community ,bank        
,leverage ,ratio  7#a7 ,in general ,the 
,community ,bank ,leverage ratio for    
qualifying community banks shall be #h  
percent4  7#b7 ,procedures ,the         
appropriate ,federal banking agencies   
shall1 through notice and comment rule  
making under section #eec of title #e1  
,united ,states ,code1 establish        
procedures for treatment of a qualifying
 community bank that has a ,community   
,bank ,leverage ,ratio that falls below 
the percentage established under        
paragraph 7#a7 after exceeding the      
percentage established under paragraph  
7#a74  2  7#b7 in subsection 7c77#a71 in
 the matter preceding subparagraph 7,a71
 by striking developed under and        
inserting established under2 and  7#c7  

in subsection 7d77#b71 by striking      
developed under and inserting           
established under4  7b7 ,applicability  
,beginning on the effective date        
described in subsection 7c71 any        
provision of a rule that was issued     
under section #bja7;b7 of the ,economic 
,growth1 ,regulatory ,relief1 and       
,consumer ,protection ,act 7#ab         
,u4,s4,c4 #ecga note7 before the date of
 enactment of this ,act and that is     
inconsistent with such section #bja7;b71
 as amended by subsection 7a7 of this   
section1 shall have no force or effect4 
7c7 ,effective date ,this section1 and  
the amendments made by this section1    
shall take effect on the date that is #g
 days after the date of enactment of    
this ,act4