Sec. 111. Repeal of the orderly liquidation authority
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/bill/115/hr/10/rh/section-111A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act is hereby repealed and any Federal law amended by such title shall, on and after the effective date of this Act, be effective as if title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act had not been enacted. The Dodd-Frank Wall Street Reform and Consumer Protection Act is amended— in the table of contents for such Act, by striking all items relating to title II; in section 165(d)— in paragraph (1), by striking , the Council, and the Corporation and inserting and the Council ; in paragraph (2), by striking , the Council, and the Corporation and inserting and the Council ; in paragraph (3), by striking and the Corporation ; in paragraph (4)— by striking and the Corporation jointly determine and inserting determines ; by striking their and inserting its ; in subparagraph (A), by striking and the Corporation ; and in subparagraph (B), by striking and the Corporation ; in paragraph (5)— in subparagraph (A), by striking and the Corporation may jointly and inserting may ; and in subparagraph (B)— by striking and the Corporation each place such term appears; by striking may jointly and inserting may ; by striking have jointly and inserting has ; in paragraph (6), by striking , a receiver appointed under title II, ; and by amending paragraph
(8)to read as follows: Not later than 12 months after enactment of this paragraph, the Board of Governors shall issue final rules implementing this section. ; and in section 716(g), by striking or a covered financial company under title II . Section 10(b)(3) of the Federal Deposit Insurance Act ( 12 U.S.C. 1820(b)(3) ) is amended by striking , or of such nonbank financial company supervised by the Board of Governors or bank holding company described in section 165(a) of the Financial Stability Act of 2010, for the purpose of implementing its authority to provide for orderly liquidation of any such company under title II of that Act . Section 13(3) of the Federal Reserve Act is amended— in subparagraph (B)— in clause (ii), by striking , resolution under title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act, or and inserting or is subject to resolution under ; and in clause (iii), by striking , resolution under title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act, or and inserting or resolution under ; and by striking subparagraph (E).
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Sec. 111
Repeal of the orderly liquidation authority
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