Sec. 6. Existing assessment termination schedule
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Each bank holding company with total consolidated assets equal to or greater than $50,000,000,000 and which has not been the subject of a final determination under section 113 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5323 ) shall be subject to assessments to the same extent as a bank holding company that has been subject to such a final determination. The aggregate amount collected pursuant to paragraph
(1)from all bank holding companies assessed under such paragraph shall be $115,000,000. If necessary, the Secretary of the Treasury shall expedite assessments made pursuant to paragraph
(1)to ensure that all $115,000,000 of assessments permitted by paragraph
(2)is collected before fiscal year 2018. The Secretary of the Treasury shall offer the option of payments spread out before the end of fiscal year 2018, or shorter periods including the option of a one-time payment, at the discretion of each bank holding company paying assessments pursuant to paragraph (1). Of the total amount collected pursuant to subsection (a)— $60,000,000 shall be transferred to the Financial Stability Oversight Council to pay for any administrative costs resulting from this Act and the amendments made by this Act; and $55,000,000 shall be transferred to the Federal Deposit Insurance Corporation to pay for any resolution costs resulting from this Act and the amendments made by this Act. A bank holding company assessed under this section shall no longer be subject to such assessments in the event it is subject to a final determination under section 113 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5323 ). Any prior payments made by such a banking holding company pursuant to an assessment under this section shall be nonrefundable. A bank holding company deemed to have been the subject of a final determination under section 113 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5323 ) under section 5(b) shall not be subject to assessments under subsection
(a)solely by operation of section 5(b).
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Sec. 6
Existing assessment termination schedule
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