[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 1284 Introduced in Senate (IS)]

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115th CONGRESS
  1st Session
                                S. 1284

To raise the consolidated assets threshold under the small bank holding 
           company policy statement, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                              May 25, 2017

   Mr. Hatch (for himself, Mr. King, and Mr. Nelson) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To raise the consolidated assets threshold under the small bank holding 
           company policy statement, 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 Relief Act''.

SEC. 2. DEFINITIONS.

    In this Act--
            (1) the term ``bank holding company'' has the meaning given 
        the term in section 2 of the Bank Holding Company Act of 1956 
        (12 U.S.C. 1841);
            (2) the term ``Board'' means the Board of Governors of the 
        Federal Reserve System; and
            (3) the term ``savings and loan holding company'' has the 
        meaning given the term in section 10(a) of the Home Owners' 
        Loan Act (12 U.S.C. 1467a(a)).

SEC. 3. 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 revise appendix C of part 225 of title 12, 
Code of Federal Regulations (commonly known as the ``Small Bank Holding 
Company and Savings and Loan Holding Company Policy Statement''), to 
raise the consolidated asset threshold under that appendix from 
$1,000,000,000 (as adjusted by Public Law 113-250 (12 U.S.C. 5371 
note)) to $5,000,000,000 for bank holding companies and savings and 
loan holding companies 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 
revision under subsection (a) if the Board determines that such action 
is warranted for supervisory purposes.
    (c) Conforming Amendment.--Section 171(b)(5) of the Dodd-Frank Wall 
Street Reform and Consumer Protection Act (12 U.S.C. 5371(b)(5)) is 
amended by striking subparagraph (C) and inserting the following:
                    ``(C) any bank holding company or savings and loan 
                holding company that is subject to the application of 
                appendix C of part 225 of title 12, Code of Federal 
                Regulations (commonly known as the `Small Bank Holding 
                Company and Savings and Loan Holding Company Policy 
                Statement').''.
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