Sec. 566. Short form call report
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/bill/115/hr/10/rh/section-566A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 7(a) of the Federal Deposit Insurance Act ( 12 U.S.C. 1817(a) ) is amended by adding at the end the following: The appropriate Federal banking agencies shall issue regulations allowing for a reduced reporting requirement for covered depository institutions when making the first and third report of condition for a year, as required pursuant to paragraph (3). For purposes of this paragraph, the term covered depository institution means an insured depository institution that— is well capitalized (as defined under section 38(b)); and satisfies such other criteria as the appropriate Federal banking agencies determine appropriate. .
Not later than 180 days after the date of the enactment of this Act, and every 365 days thereafter until the appropriate Federal banking agencies (as defined under section 3 of the Federal Deposit Insurance Act) have issued the regulations required under section 7(a)(12)(A) of the Federal Deposit Insurance Act, such agencies shall submit to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate a report describing the progress made in issuing such regulations.
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Sec. 566
Short form call report
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