[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3329 Referred in Senate (RFS)]

113th CONGRESS
  2d Session
                                H. R. 3329


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                   IN THE SENATE OF THE UNITED STATES

                              May 7, 2014

Received; read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

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 shall publish in the Federal Register proposed 
revisions to the Small Bank Holding Company Policy Statement on 
Assessment of Financial and Managerial Factors (12 CFR 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 any nonbanking activities involving 
        significant leverage; and
            (2) do not have a significant amount of outstanding debt 
        that is held by the general public.
    (b) Conforming Amendment.--Section 171(b)(5)(C) of the Dodd-Frank 
Wall Street Reform and Consumer Protection Act (12 U.S.C. 
5371(b)(5)(C)) is amended by inserting ``or small savings and loan 
holding company'' after ``any small bank holding company''.
    (c) Rule of Construction.--Nothing in this Act or the amendments 
made by this Act may be construed as limiting the authority of the 
Board of Governors of the Federal Reserve System to exclude a bank 
holding company or a savings and loan holding company from the policy 
statement described under subsection (a), if such action is warranted 
for supervisory purposes.
    (d) Definitions.--For purposes of this section:
            (1) Bank holding company.--The term ``bank holding 
        company'' has the meaning given that term under section 2 of 
        the Bank Holding Company Act of 1956 (12 U.S.C. 1841).
            (2) Savings and loan holding company.--The term ``savings 
        and loan holding company'' has the meaning given that term 
        under section 10(a) of the Home Owners' Loan Act (12 U.S.C. 
        1467a(a)).

            Passed the House of Representatives May 6, 2014.

            Attest:

                                                 KAREN L. HAAS,

                                                                 Clerk.