Sec. 5. Existing assessment termination schedule
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Each bank holding company that, on the day that is 24 months following the date of the enactment of this Act, has total consolidated assets equal to or greater than $50,000,000,000, has not been identified as a global systemically important bank holding company pursuant to section 217.402 of title 12, Code of Federal Regulations, and has not been subjected to a determination under subsection
(l)of section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, shall be subject to assessments by the Secretary of the Treasury to the same extent as a bank holding company that has been so identified or subjected. In making assessments pursuant to paragraph (1), the Secretary of the Treasury shall take into account differences among the bank holding companies subject to such assessment, based on the considerations for establishing the prudential standards under section 115 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5325 ). The aggregate amount collected pursuant to paragraph
(1)from all bank holding companies assessed under such paragraph shall be $58,000,000. The Secretary of the Treasury shall offer the option of payments spread out before the end of the 48-month period following the date of the enactment of this Act, 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). The assessments collected pursuant to paragraph
(1)shall be in addition to, and not as a replacement of, any assessments required under any other law. A bank holding company assessed under this section shall no longer be subject to such assessments in the event it is identified as a global systemically important bank holding company pursuant to section 217.402 of title 12, Code of Federal Regulations, or subjected to a determination under subsection
(l)of section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Any prior payments made by such a banking holding company pursuant to an assessment under this section shall be nonrefundable.
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Sec. 5
Existing assessment termination schedule
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