H.R. 478 · SPONSOR ANDY BARR R-KY-6
Promoting New Bank Formation Act
- Phase in capital requirements: Federal banking agencies would have to let new insured depository institutions and their holding companies meet applicable federal capital requirements over three years, starting when the institution becomes insured
- Allow business plan changes: During an institution’s first three years as an insured depository institution, it or its holding company could ask its banking agency to approve a change to its approved business plan. The agency would have 30 days to decide; if it did not approve or deny the request in that time, the request would be considered approved
- Lower the rural bank leverage ratio: For a rural depository institution with less than $10 billion in consolidated assets, the Community Bank Leverage Ratio would be 8% during its first three years as an insured institution. Banking agencies would set lower percentages during the first two years as part of the phase-in
- Introduced
- In committee
- Reported▲ THIS MARKUP
- Passed House
- Passed Senate
- Law
What’s next: a floor vote. None is scheduled.
RESULTS NOT POSTED YET
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