Sec. 3. Revisions to Board authority
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Section 163 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5363 ) is amended by striking with total consolidated assets equal to or greater than $50,000,000,000 each place such term appears and inserting which has been 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 . Section 164 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5364 ) is amended by striking with total consolidated assets equal to or greater than $50,000,000,000 and inserting which has been 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 . Section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5365 ) is amended— in subsection (a), by striking with total consolidated assets equal to or greater than $50,000,000,000 and inserting which have been identified as global systemically important bank holding companies pursuant to section 217.402 of title 12, Code of Federal Regulations, or subjected to a determination under subsection
(l); in subsection (a)(2)— by striking
(A); In general.— in subparagraph (A), by striking may and inserting shall ; and by striking subparagraph (B); in subsection (j), by striking with total consolidated assets equal to or greater than $50,000,000,000 and inserting which has been 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). Section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5365 ) is amended by adding at the end the following: The Board of Governors may, within the limits of its existing resources— determine that a bank holding company that has not been identified as a global systemically important bank holding company pursuant to section 217.402 of title 12, Code of Federal Regulations, shall be subject to certain enhanced supervision or prudential standards under this section, tailored to the risks presented, based on the considerations in paragraph (3), where material financial distress at the bank holding company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of the activities of the individual bank holding company, could pose a threat to the financial stability of the United States; or by regulation determine that a category of bank holding companies that have not been identified as global systemically important bank holding companies pursuant to section 217.402 of title 12, Code of Federal Regulations, shall be subject to certain enhanced supervision or prudential standards under this section, tailored to the risk presented by the category of bank holding companies, based on the considerations in paragraph (3), where material financial distress at the category of bank holding companies, or the nature, scope, size, scale, concentration, interconnectedness, or mix of the activities of the category of bank holding companies, could pose a threat to the financial stability of the United States. Notwithstanding paragraph (1)(B), a regulation issued by the Board of Governors to make a determination under such paragraph (1)(B) shall not take effect unless the Council, by a vote of not fewer than 2/3 of the voting members then serving, including an affirmative vote by the Chairperson, approves the metrics used by the Board of Governors in establishing such regulation. In making any determination under paragraph (1), the Board of Governors shall consider the following factors: The size of the bank holding company. The interconnectedness of the bank holding company. The extent of readily available substitutes or financial institution infrastructure for the services of the bank holding company. The global cross-jurisdictional activity of the bank holding company. The complexity of the bank holding company. In making a determination under paragraph (1), the Board of Governors shall ensure that bank holding companies that are similarly situated with respect to the factors described under paragraph (3), are treated similarly for purposes of any enhanced supervision or prudential standards applied under this section. For purposes of making a determination under paragraph (1), the Board of Governors shall make use of data already being reported to the Board of Governors, including from calculating a bank holding company’s systemic indicator score, in order to avoid placing an unnecessary burden on bank holding companies. . Section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5365 ), as amended by subsection (d), is further amended by adding at the end the following: With respect to the identification of bank holding companies as global systemically important bank holding companies pursuant to section 217.402 of title 12, Code of Federal Regulations, or subjected to a determination under subsection (l), the Board of Governors shall— publish, including on the Board of Governors’s website, a list of all bank holding companies that have been so identified, and keep such list current; and solicit feedback from the Council on the identification process and on the application of such process to specific bank holding companies. . The second subsection
(s)(relating to Assessments, Fees, and Other Charges for Certain Companies ) of section 11 of the Federal Reserve Act ( 12 U.S.C. 248 ) is amended— by redesignating such subsection as subsection (t); and in paragraph (2)(A), by striking having total consolidated assets of $50,000,000,000 or more and inserting which have been identified as global systemically important bank holding companies 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 .
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