[Congressional Record Volume 160, Number 151 (Thursday, December 11, 2014)]
[House]
[Page H10303]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




     COMMUNITY FINANCIAL INSTITUTIONS AND FOSTERING ECONOMIC GROWTH

  Mrs. WAGNER. Madam Speaker, I ask unanimous consent to take from the 
Speaker's table the bill (H.R. 3329) 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, with the Senate amendment thereto, and concur 
in the Senate amendment.
  The Clerk read the title of the bill.
  The SPEAKER pro tempore. The Clerk will report the Senate amendment.
  The Clerk read as follows:
  Senate 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)).

  Ms. WAGNER (during the reading). Madam Speaker, I ask unanimous 
consent that the reading of the amendment be dispensed with.
  The SPEAKER pro tempore (Ms. Foxx). Is there objection to the request 
of the gentlewoman from Missouri?
  There was no objection.
  The SPEAKER pro tempore. Is there objection to the original request 
of the gentlewoman from Missouri?
  There was no objection.
  A motion to reconsider was laid on the table.

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