[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4500 Introduced in House (IH)]

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114th CONGRESS
  2d Session
                                H. R. 4500

To amend the Federal Deposit Insurance Act to permit certain depository 
 institutions to use a short form call report, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 9, 2016

Mr. Hultgren (for himself, Ms. Sewell of Alabama, and Mr. Luetkemeyer) 
 introduced the following bill; which was referred to the Committee on 
                           Financial Services

_______________________________________________________________________

                                 A BILL


 
To amend the Federal Deposit Insurance Act to permit certain depository 
 institutions to use a short form call report, 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. SHORT TITLE.

    This Act may be cited as the ``Community Bank Reporting Relief 
Act''.

SEC. 2. SHORT FORM CALL REPORT.

    (a) In General.--Section 7(a) of the Federal Deposit Insurance Act 
(12 U.S.C. 1817(a)) is amended by adding at the end the following:
            ``(12) Short form reporting.--
                    ``(A) In general.--The appropriate Federal banking 
                agencies shall issue regulations allowing for a reduced 
                reporting requirement for covered depository 
                institutions when making the first and third report of 
                condition for a year, as required pursuant to paragraph 
                (3).
                    ``(B) Covered depository institution defined.--For 
                purposes of this paragraph, the term `covered 
                depository institution' means an insured depository 
                institution that--
                            ``(i) is highly rated and well capitalized 
                        (as defined under section 38(b)); and
                            ``(ii) satisfies such other criteria as the 
                        appropriate Federal banking agencies determine 
                        appropriate.''.
    (b) Report to Congress.--Not later than 180 days after the date of 
the enactment of this Act, and every 365 days thereafter until the 
appropriate Federal banking agencies (as defined under section 3 of the 
Federal Deposit Insurance Act) have issued the regulations required 
under section 7(a)(12)(A) of the Federal Deposit Insurance Act, such 
agencies shall submit to the Committee on Financial Services of the 
House of Representatives and the Committee on Banking, Housing, and 
Urban Affairs of the Senate a report describing the progress made in 
issuing such regulations.
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