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H. Rept. 114-280 1 (2015-10-06)

handle is hein.congrecreports/crptxrdw0001 and id is 1 raw text is: AUT-ENTICATED US. GOVERNMENT INFORMATION GP 114TH CONGRESS REPORT 1st Session HOUSE OF REPRESENTATIVES 114-280 SMALL BANK EXAM CYCLE REFORM ACT OF 2015 OCTOBER 6, 2015.-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. 1553] [Including cost estimate of the Congressional Budget Office] The Committee on Financial Services, to whom was referred the bill (H.R. 1553) to amend the Federal Deposit Insurance Act to specify which smaller institutions may qualify for an 18-month ex- amination cycle, having considered the same, report favorably thereon without amendment and recommend that the bill do pass. PURPOSE AND SUMMARY Introduced by Representative Tipton, H.R. 1553, the Small Bank Exam Cycle Reform Act of 2015, amends the Federal De- posit Insurance Act (FDIA) to increase the qualifying asset thresh- old for insured depository institutions eligible for 18-month on-site examination cycles from $500 million to $1 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- lators rate financial institutions on several criteria, including safe- ty and soundness and their compliance with legal and regulatory requirements. Regulators also calculate capital ratios and classify financial institutions according to the adequacy of their capitaliza- tion. If an examination reveals that an institution is not complying with the law or that it is undercapitalized, the regulator will assign the institution unsatisfactory ratings or classifications in the insti- tution's examination report. The institution is then subject to pen- 59-006

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