112th CONGRESS
1st Session
H.R. 2056
In the Senate of the United
States,
November 17, 2011.
Amendments:
That the bill from the House of Representatives
(H.R. 2056) entitled An Act to instruct the Inspector General of the
Federal Deposit Insurance Corporation to study the impact of insured depository
institution failures, and for other purposes.
, do pass with the
following
(1)On page 2, line 10, insert
and
after the semicolon.
(2)On page 2,
line 14, strike the semicolon and all that follows through line 19 and insert a
period.
(3)On page 4,
strike line 14 and all that follows through page 5, line 5, and insert the
following:
(2)The
significance of losses, including—
(A)the number of
insured depository institutions that have been placed into receivership or
conservatorship due to significant losses arising from loans for which all
payments of principal, interest, and fees were current, according to the
contractual terms of the loans;
(B)the impact of
significant losses arising from loans for which all payments of principal,
interest, and fees were current, according to the contractual terms of the
loans, on the ability of insured depository institutions to raise additional
capital;
(C)the effect of
changes in the application of fair value accounting rules and other accounting
standards, including the allowance for loan and lease loss methodology, on
insured depository institutions, specifically the degree to which fair value
accounting rules and other accounting standards have led to regulatory action
against banks, including consent orders and closure of the institution;
and
(D)whether field
examiners are using appropriate appraisal procedures with respect to losses
arising from loans for which all payments of principal, interest, and fees were
current, according to the contractual terms of the loans, and whether the
application of appraisals leads to immediate write downs on the value of the
underlying asset.
(4)On page 9, strike lines 15 through
19, and insert the following:
2.The Inspector
General of the Federal Deposit Insurance Corporation and the Comptroller
General of the United States shall appear before the Committee on Banking,
Housing, and Urban Affairs of the Senate and the Committee on Financial
Services of the House of Representatives, not later than 150 days after the
date of publication of the study required under this Act to discuss the
outcomes and impact of Federal regulations on bank examinations and
failures.
Secretary