Promoting New Bank Formation Act
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Promoting New Bank Formation Act
This bill eliminates and reduces certain requirements applicable to new depository institutions, certain rural community depository institutions, and federal savings associations.
Federal banking agencies must issue rules allowing a new depository institution or depository institution holding company three years to meet capital requirements. During this period, a depository institution or its depository institution holding company may request to deviate from an approved business plan, and the appropriate agency has 30 days to approve or deny the request.
In addition, the community bank leverage ratio—a way of evaluating debt levels—is reduced for new rural community depository institutions. Specifically, new rural community depository institutions must have a ratio of 8%, with a three-year phase-in of the rate. After this period, the ratio rises to its current level of 9%.
Finally, the bill removes certain restrictions to allow federal savings associations to invest in, sell, or otherwise deal in agricultural loans.
Placed on the Union Calendar, Calendar No. 64.
- Introduced in House Formatted Text PDF Formatted XML
- Reported in House Formatted Text PDF Formatted XML
Cite this page
U.S. Congress. (2026). H.R. 478: Promoting New Bank Formation Act. 119th Congress. Open America. https://openamerica.io/bill/119-HR-478/
"H.R. 478: Promoting New Bank Formation Act." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-HR-478/.
H.R. 478, 119th Cong. (2026), https://openamerica.io/bill/119-HR-478/.
[H.R. 478: Promoting New Bank Formation Act](https://openamerica.io/bill/119-HR-478/)