S 3409
117th Congress
Senate
Finance and Financial Sector
A bill to amend the Economic Growth, Regulatory Relief, and Consumer Protection Act to require the appropriate Federal banking agencies to develop a Community Bank Leverage Ratio that is between 8 percent and 8.5 percent for calendar years 2022, 2023, and 2024, and for other purposes.
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 15, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Dec 15, 2021
Introduced in Senate
Plain-English summary
This bill requires banking agencies to set the community bank leverage ratio between 8% and 8.5% for calendar years 2022, 2023, and 2024 for community banks seeking to satisfy simplified capital adequacy requirements. Currently, banking agencies are statutorily required to set the rate between 8% and 10% through rulemaking. Under current regulations, the rate will increase from 8.5% to 9% on January 1, 2022.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1