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H.R. 2987 (114th): Community Bank Capital Clarification Act

The text of the bill below is as of Jul 8, 2015 (Introduced).


I

114th CONGRESS

1st Session

H. R. 2987

IN THE HOUSE OF REPRESENTATIVES

July 8, 2015

(for himself, Mr. King of New York, Mrs. Carolyn B. Maloney of New York, and Mr. Luetkemeyer) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Financial Stability Act of 2010 to clarify the treatment of certain debt and equity instruments of smaller institutions for purposes of capital requirements, and for other purposes.

1.

Short title

This Act may be cited as the Community Bank Capital Clarification Act.

2.

Clarification for instruments of other depository institution holding companies

Section 171(b)(4)(C) of the Financial Stability Act of 2010 (12 U.S.C. 5371(b)(4)(C)) is amended by adding at the end the following: A depository institution holding company with total consolidated assets of less than $15,000,000,000 at the end of a quarterly financial reporting period after December 31, 2009, shall be treated as if the company had total consolidated assets of less than $15,000,000,000 as of December 31, 2009, for so long as such company has total consolidated assets of less than $15,000,000,000..