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H. Rept. 115-657 1 (2018-04-26)

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                    115TH CONGRESS                                        REPORT
                       2d Session     HOUSE OF REPRESENTATIVES            115-657





                     SMALL BANK EXAM CYCLE IMPROVEMENT ACT OF 2018


                     APRIL 26, 2018.-Committed to the Committee of the Whole House on the State of
                                       the Union and ordered to be printed


                       Mr. HENSARLING, from the Committee on Financial Services,
                                         submitted the following

                                             REPORT

                                           [To accompany H.R. 5076]
                              [Including cost estimate of the Congressional Budget Office]
                      The Committee on Financial Services, to whom was referred the
                    bill (H.R. 5076) to amend the Federal Deposit Insurance Act to ex-
                    tend the examination cycle for certain insured depository institu-
                    tions, having considered the same, report favorably thereon with an
                    amendment and recommend that the bill as amended do pass.
                      The amendment is as follows:
                      Add at the end the following:
                    SEC. 3. GAO STUDY AND REPORT.
                      Not later than 2 years after the date of enactment of this Act, the Comptroller
                    General of the United States shall submit a report to the Congress on the effect of
                    extending the examination cycle for qualifying institutions pursuant to section 2 of
                    this Act on the ability of agencies to effectively supervise and protect the safety and
                    soundness of qualifying institutions.
                                         PURPOSE AND SUMMARY
                      Introduced by Representative Claudia Tenney on February 20,
                    2018, H.R. 5076, the Small Bank Exam Cycle Improvement Act of
                    2018 amends the Federal Deposit Insurance Act (FDIA) to in-
                    crease the qualifying asset threshold for insured depository institu-
                    tions eligible for 18-month on-site examination cycles from $1 mil-
                    lion to $3 billion.
                                BACKGROUND AND NEED FOR LEGISLATION
                      Section 10(d) of the FDIA generally provides that federal banking
                    agencies must conduct a full-scope, on-site examination of each in-
                    sured depository institution at least once during every 12-month
                    period. As part of the examination process, federal financial regu-
                       79-006

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