S. 3409 — Introduced in Senate

II 117th CONGRESS 1st Session S. 3409 IN THE SENATE OF THE UNITED STATES December 15, 2021Mr. Moran (for himself and Mr. Tester) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To amend the Economic Growth, Regulatory Relief, and Consumer Protection Act to require the appropriate Federal banking agencies to develop a Community Bank Leverage Ratio that is between 8 percent and 8.5 percent for calendar years 2022, 2023, and 2024, and for other purposes. 1. Community Bank Leverage Ratio Section 201 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (12 U.S.C. 5371 note) is amended by striking subsection (b) and inserting the following: (b) Community bank leverage ratio (1) In general Except as provided in paragraph (2), the appropriate Federal banking agencies shall, through notice and comment rule making under section 553 of title 5, United States Code— (A) develop a Community Bank Leverage Ratio of not less than 8 percent and not more than 10 percent for qualifying community banks; and (B) establish procedures for treatment of a qualifying community bank that has a Community Bank Leverage Ratio that falls below the percentage developed under subparagraph (A) after exceeding the percentage developed under subparagraph (A). (2) Calendar years 2022, 2023, and 2024 The appropriate Federal banking agencies shall, through notice and comment rule making under section 553 of title 5, United States Code develop a Community Bank Leverage Ratio to apply during the period beginning on January 1, 2022, and ending on December 31, 2024, that is not less than 8 percent and not more than 8.5 percent for qualifying community banks. .