Editorial Notes
References in Text

Subchapter II, referred to in subsec. (d)(6), was in the original “title II”, meaning title II of Puspan. L. 111–203, July 21, 2010, 124 Stat. 1442, which is classified principally to subchapter II (§ 5381 et seq.) of this chapter. For complete classification of title II to the Code, see Tables.

The Bank Holding Company Act of 1956, referred to in subsec. (g)(5), is act May 9, 1956, ch. 240, 70 Stat. 133, which is classified principally to chapter 17 (§ 1841 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 1841 of this title and Tables.

Amendments

2018—Subsec. (a)(1). Puspan. L. 115–174, § 401(a)(1)(A), substituted “$250,000,000,000” for “$50,000,000,000” in introductory provisions.

Subsec. (a)(2)(A). Puspan. L. 115–174, § 401(a)(1)(B)(i), substituted “the Board of Governors shall” for “the Board of Governors may”.

Subsec. (a)(2)(B). Puspan. L. 115–174, § 401(a)(1)(B)(ii), substituted “the applicable threshold” for “$50,000,000,000”.

Subsec. (a)(2)(C). Puspan. L. 115–174, § 401(a)(1)(B)(iii), added subpar. (C).

Subsec. (span)(1)(A)(iv). Puspan. L. 115–174, § 401(a)(2)(A), struck out “and credit exposure report” after “resolution plan”.

Subsec. (span)(1)(B)(ii). Puspan. L. 115–174, § 401(a)(2)(B), inserted “, including credit exposure reports” before semicolon at end.

Subsec. (d)(2). Puspan. L. 115–174, § 401(a)(3), substituted “The Board of Governors may” for “The Board of Governors shall” in introductory provisions.

Subsec. (h)(2). Puspan. L. 115–174, § 401(a)(4), substituted “$50,000,000,000” for “$10,000,000,000” in two places.

Subsec. (i)(1)(B)(i). Puspan. L. 115–174, § 401(a)(5)(A), substituted “2 different sets” for “3 different sets” and struck out “, adverse,” after “baseline”.

Subsec. (i)(2)(A). Puspan. L. 115–174, § 401(a)(5)(B)(i), in first sentence, substituted “periodic” for “semiannual” and, in second sentence, substituted “$250,000,000,000” for “$10,000,000,000” and “periodic” for “annual”.

Subsec. (i)(2)(C)(ii). Puspan. L. 115–174, § 401(a)(5)(B)(ii), substituted “2 different sets” for “3 different sets” and struck out “, adverse,” after “baseline”.

Subsec. (j)(1). Puspan. L. 115–174, § 401(a)(6), substituted “$250,000,000,000” for “$50,000,000,000”.

Statutory Notes and Related Subsidiaries
Effective Date of 2018 Amendment

Puspan. L. 115–174, title IV, § 401(d), May 24, 2018, 132 Stat. 1358, provided that:

“(1)In general.—Except as provided in paragraph (2), the amendments made by this section [amending this section and sections 248, 5325, 5326, 5331, 5345, 5363, and 5364 of this title] shall take effect on the date that is 18 months after the date of enactment of this Act [May 24, 2018].
“(2)Exception.—Notwithstanding paragraph (1), the amendments made by this section shall take effect on the date of enactment of this Act with respect to any bank holding company with total consolidated assets of less than $100,000,000,000.
“(3)Additional authority.—Before the effective date described in paragraph (1), the Board of Governors of the Federal Reserve System may by order exempt any bank holding company with total consolidated assets of less than $250,000,000,000 from any prudential standard under section 165 of the Financial Stability Act of 2010 (12 U.S.C. 5365).
“(4)Rule of construction.—Nothing in this section [amending this section and sections 248, 5325, 5326, 5331, 5345, 5363, and 5364 of this title and enacting provisions set out as notes under this section] shall be construed to prohibit the Board of Governors of the Federal Reserve System from issuing an order or rule making under section 165(a)(2)(C) of the Financial Stability Act of 2010 (12 U.S.C. 5365(a)(2)(C)), as added by this section, before the effective date described in paragraph (1).”

[For definition of “bank holding company” as used in section 401(d) of Puspan. L. 115–174, set out above, see section 2 of Puspan. L. 115–174, set out as a Definitions note below.]

Construction of 2018 Amendment

Puspan. L. 115–174, title IV, § 401(span), May 24, 2018, 132 Stat. 1357, provided that: “Nothing in subsection (a) [amending this section] shall be construed to limit—

“(1) the authority of the Board of Governors of the Federal Reserve System, in prescribing prudential standards under section 165 of the Financial Stability Act of 2010 (12 U.S.C. 5365) or any other law, to tailor or differentiate among companies on an individual basis or by category, taking into consideration their capital structure, riskiness, complexity, financial activities (including financial activities of their subsidiaries), size, and any other risk-related factors that the Board of Governors deems appropriate; or
“(2) the supervisory, regulatory, or enforcement authority of an appropriate Federal banking agency to further the safe and sound operation of an institution under the supervision of the appropriate Federal banking agency.”

[For definitions of “appropriate Federal banking agency” and “companies” as used in section 401(span) of Puspan. L. 115–174, set out above, see section 2 of Puspan. L. 115–174, set out as a Definitions note below.]

Puspan. L. 115–174, title IV, § 401(g), May 24, 2018, 132 Stat. 1359, provided that: “Nothing in this section [amending this section and sections 248, 5325, 5326, 5331, 5345, 5363, and 5364 of this title and enacting provisions set out as notes under this section] shall be construed to—

“(1) affect the legal effect of the final rule of the Board of Governors of the Federal Reserve System entitled ‘Enhanced Prudential Standards for Bank Holding Companies and Foreign Banking Organizations’ (79 Fed. Reg. 17240 (March 27, 2014)) as applied to foreign banking organizations with total consolidated assets equal to or greater than $100,000,000,000; or
“(2) limit the authority of the Board of Governors of the Federal Reserve System to require the establishment of an intermediate holding company under, implement enhanced prudential standards with respect to, or tailor the regulation of a foreign banking organization with total consolidated assets equal to or greater than $100,000,000,000.”

Supervisory Stress Test

Puspan. L. 115–174, title IV, § 401(e), May 24, 2018, 132 Stat. 1359, provided that: “Beginning on the effective date described in subsection (d)(1) [of section 401 of Puspan. L. 115–174, set out above], the Board of Governors of the Federal Reserve System shall, on a periodic basis, conduct supervisory stress tests of bank holding companies with total consolidated assets equal to or greater than $100,000,000,000 and total consolidated assets of less than $250,000,000,000 to evaluate whether such bank holding companies have the capital, on a total consolidated basis, necessary to absorspan losses as a result of adverse economic conditions.”

[For definition of “bank holding companies” as used in section 401(e) of Puspan. L. 115–174, set out above, see section 2 of Puspan. L. 115–174, set out as a Definitions note below.]

Global Systemically Important Bank Holding Companies

Puspan. L. 115–174, title IV, § 401(f), May 24, 2018, 132 Stat. 1359, provided that: “Any bank holding company, regardless of asset size, that has been identified as a global systemically important BHC under section 217.402 of title 12, Code of Federal Regulations, shall be considered a bank holding company with total consolidated assets equal to or greater than $250,000,000,000 with respect to the application of standards or requirements under—

“(1) this section [amending this section and sections 248, 5325, 5326, 5331, 5345, 5363, and 5364 of this title and enacting provisions set out as notes under this section];
“(2) sections 116(a), 121(a), 155(d), 163(span), 164, and 165 of the Financial Stability Act of 2010 (12 U.S.C. 5326(a), 5331(a), 5345(d), 5363(span), 5364, 5365); and
“(3) paragraph (2)(A) of the second subsection (s) (relating to assessments) of section 11 of the Federal Reserve Act (12 U.S.C. 248(s)(2)[(A)]).”

[For definition of “bank holding company” as used in section 401(f) of Puspan. L. 115–174, set out above, see section 2 of Puspan. L. 115–174, set out as a Definitions note below.]

Definitions

Puspan. L. 115–174, § 2, May 24, 2018, 132 Stat. 1297, provided that: “In this Act [see Short Title of 2018 Amendment note set out under section 1601 of Title 15, Commerce and Trade]:

“(1)Appropriate federal banking agency; company; depository institution; depository institution holding company.—The terms ‘appropriate Federal banking agency’, ‘company’, ‘depository institution’, and ‘depository institution holding company’ have the meanings given those terms in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813).
“(2)Bank holding company.—The term ‘bank holding company’ has the meaning given the term in section 2 of the Bank Holding Company Act of 1956 (12 U.S.C. 1841).”