[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3329 Engrossed Amendment Senate (EAS)]

                  In the Senate of the United States,

                                                     December 11, 2014.
    Resolved, That the bill from the House of Representatives (H.R. 
3329) entitled ``An Act to enhance the ability of community financial 
institutions to foster economic growth and serve their communities, 
boost small businesses, increase individual savings, and for other 
purposes.'', do pass with the following

                               AMENDMENT:

            Strike all after the enacting clause and insert the 
      following:

SECTION 1. CHANGES REQUIRED TO SMALL BANK HOLDING COMPANY POLICY 
              STATEMENT ON ASSESSMENT OF FINANCIAL AND MANAGERIAL 
              FACTORS.

    (a) In General.--Before the end of the 6-month period beginning on 
the date of the enactment of this Act, the Board of Governors of the 
Federal Reserve System (hereafter in this Act referred to as the 
``Board'') shall publish in the Federal Register proposed revisions to 
the Small Bank Holding Company Policy Statement on Assessment of 
Financial and Managerial Factors (12 C.F.R. part 225 appendix C) that 
provide that the policy shall apply to bank holding companies and 
savings and loan holding companies which have pro forma consolidated 
assets of less than $1,000,000,000 and that--
            (1) are not engaged in significant nonbanking activities 
        either directly or through a nonbank subsidiary;
            (2) do not conduct significant off-balance sheet activities 
        (including securitization and asset management or 
        administration) either directly or through a nonbank 
        subsidiary; and
            (3) do not have a material amount of debt or equity 
        securities outstanding (other than trust preferred securities) 
        that are registered with the Securities and Exchange 
        Commission.
    (b) Exclusions.--The Board may exclude any bank holding company or 
savings and loan holding company, regardless of asset size, from the 
policy statement under subsection (a) if the Board determines that such 
action is warranted for supervisory purposes.

SEC. 2. CONFORMING AMENDMENT.

    (a) In General.--Subparagraph (C) of section 171(b)(5) of the Dodd-
Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 
5371(b)(5)) is amended to read as follows:
                    ``(C) any bank holding company or savings and loan 
                holding company having less than $1,000,000,000 in 
                total consolidated assets that complies with the 
                requirements of the Small Bank Holding Company Policy 
                Statement on Assessment of Financial and Managerial 
                Factors of the Board of Governors (12 C.F.R. part 225 
                appendix C), as the requirements of such Policy 
                Statement are amended pursuant to section 1 of an Act 
                entitled `To enhance the ability of community financial 
                institutions to foster economic growth and serve their 
                communities, boost small businesses, increase 
                individual savings, and for other purposes'.''.
    (b) Transition Period.--Any small bank holding company that was 
excepted from the provisions of section 171 of the Dodd-Frank Wall 
Street Reform and Consumer Protection Act pursuant to subparagraph (C) 
of section 171(b)(5) (as such subparagraph was in effect on the day 
before the date of enactment of this Act), and any small savings and 
loan holding company that would have been excepted from the provisions 
of section 171 pursuant to subparagraph (C) (as such subparagraph was 
in effect on the day before the date of enactment of this Act) if it 
had been a small bank holding company, shall be excepted from the 
provisions of section 171 until the effective date of the Small Bank 
Holding Company Policy Statement issued by the Board as required by 
section 1 of this Act.

SEC. 3. DEFINITIONS.

    For the purposes of this Act:
     (a) Bank Holding Company.--The term ``bank holding company'' has 
the same meaning as in section 2 of the Bank Holding Company Act of 
1956 (12 U.S.C. 1841).
    (b) Savings and Loan Holding Company.--The term ``savings and loan 
holding company'' has the same meaning as in section 10(a) of the Home 
Owners' Loan Act (12 U.S.C. 1467a(a)).

            Attest:

                                                             Secretary.
113th CONGRESS

  2d Session

                               H.R. 3329

_______________________________________________________________________

                               AMENDMENT