Sec. 801. Rules of construction relating to collateralized loan obligations
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Section 13(c)(2) of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1851(c)(2) ) is amended— by striking A banking entity or nonbank financial company supervised by the Board and inserting the following: A banking entity or nonbank financial company supervised by the Board ; and by adding at the end the following: Notwithstanding subparagraph (A), a banking entity or nonbank financial company supervised by the Board shall bring its activities related to or investments in a debt security of a collateralized loan obligation issued before January 31, 2014, into compliance with the requirements of subsection (a)(1)(B) and any applicable rules relating to subsection (a)(1)(B) not later than July 21, 2019.
For purposes of this subparagraph, the term collateralized loan obligation means any issuing entity of an asset-backed security, as defined in section 3(a)(77) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a)(77) ), that is comprised primarily of commercial loans. .
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