Sec. 3. Revisions to council authority

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Section 112 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5322 ) is amended in subsection (a)(2)(I) by inserting before the semicolon , which have been the subject of a final determination under section 113 . Section 113 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5323 ) is amended— by amending the heading for such section to read as follows: ; Authority to require enhanced supervision and regulation of certain nonbank financial companies and certain bank holding companies by redesignating subsections (c), (d), (e), (f), (g), (h), and

(i)as subsections (d), (e), (f), (g), (h), (i), and (j), respectively; by inserting after subsection

(b)the following: The Council, on a nondelegable basis and by a vote of not fewer than 2⁄3 of the voting members then serving, including an affirmative vote by the Chairperson, may determine that a bank holding company shall be subject to enhanced supervision and prudential standards by the Board of Governors, in accordance with section 165, if the Council determines that material financial distress at the bank holding company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of the activities of the bank holding company, could pose a threat to the financial stability of the United States. In making a determination under paragraph (1), the Council shall use an indicator-based measurement approach, and consider— the size of the bank holding company; the interconnectedness of the bank holding company; the extent of readily available substitutes or financial institution infrastructure for the services of the bank holding company; the global cross-jurisdictional activity of the bank holding company; and the complexity of the bank holding company. ; in subsection (d), as so redesignated— in paragraph (1)(A), by striking subsection (a)(2) or (b)(2) and inserting subsection (a)(2), (b)(2), or (c)(2) ; and in paragraph (4), by striking Subsections

(d)through

(h)and inserting Subsections

(e)through

(i); in subsections (e), (f), (g), (h), (i), and (j)— by striking subsections

(a)and

(b)each place such term appears and inserting subsections (a), (b), and

(c); and by striking nonbank financial company each place such term appears and inserting bank holding company for which there has been a determination under subsection

(c)or nonbank financial company ; in subsection (g), as so redesignated, by striking subsection

(e)and inserting subsection

(f); in subsection (h), as so redesignated, by striking subsection (a), (b), or

(c)and inserting subsection (a), (b), (c), or

(d); and in subsection (i), as so redesignated, by striking subsection (d)(2), (e)(3), or (f)(5) and inserting subsection (e)(2), (f)(3), or (g)(5) . Section 115 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5325 ) is amended— in subsection (a)(1), by striking large, interconnected bank holding companies and inserting bank holding companies which have been the subject of a final determination under section 113 ; in subsection (a)(2)— in subparagraph (A), by striking or at the end; by striking the Council may and all that follows through differentiate and inserting the Council may differentiate ; and by striking subparagraph (B); and in subsection (b)(3), by striking subsections

(a)and

(b)of section 113 each place such term appears and inserting subsections (a), (b), and

(c)of section 113 . Section 116(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5326(a) ) is amended by striking with total consolidated assets of $50,000,000,000 or greater and inserting which has been the subject of a final determination under section 113 . Section 121 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5331 ) is amended— in subsection (a), by striking with total consolidated assets of $50,000,000,000 or more and inserting which has been the subject of a final determination under section 113 ; and in subsection (c), by striking subsection

(a)or

(b)of section 113 and inserting subsection (a), (b), or

(c)of section 113 . Section 155 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5345 ) is amended in subsection

(d)by striking with total consolidated assets of 50,000,000,000 or greater and inserting which have been the subject of a final determination under section 113 .

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Sec. 3

Revisions to council authority

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