S.Amdt. 4006

SA 4006. Mr. PRYOR (for himself, Mr. Roberts, and Mr. Brownback)
submitted an amendment intended to be proposed to amendment SA 3739
proposed by Mr. Reid (for Mr. Dodd (for himself and Mrs. Lincoln)) to
the bill S. 3217, to promote the financial stability of the United
States by improving accountability and transparency in the financial
system, to end ``too big to fail'', to protect the American taxpayer by
ending bailouts, to protect consumers from abusive financial services
practices, and for other purposes; which was ordered to lie on the
table; as follows:

On page 19, strike line 16 and all that follows through
page 21, line 23 and insert the following:
(4) Nonbank financial company definitions.--
(A) Foreign nonbank financial company.--The term ``
`foreign nonbank financial company' '' means a company (other
than a company that is, or is treated in the United States
as, a bank holding company or a subsidiary thereof) that is--
(i) incorporated or organized in a country other than the
United States; and
(ii) predominantly engaged (as defined in section 4(n) of
the Bank Holding Company Act of 1956) in, including through a
branch in the United States, activities in the United States
that are financial in nature (as defined in section 4(k) of
the Bank Holding Company Act of 1956).
(B) U.S. nonbank financial company.--The term `` `U.S.
nonbank financial company' '' means a company (other than a
bank holding company or a subsidiary thereof, or a Farm
Credit System institution chartered and subject to the
provisions of the Farm Credit Act of 1971 (12 U.S.C. 2001 et.
seq.)) that is--
(i) incorporated or organized under the laws of the United
States or any State; and
(ii) predominantly engaged (as defined in section 4(n) of
the Bank Holding Company Act of 1956) in activities in the
United States that are financial in nature (as defined in
section 4(k) of the Bank Holding Company Act of 1956).
(C) Nonbank financial company.--The term ``nonbank
financial company'' means a U.S. nonbank financial company
and a foreign nonbank financial company.
(D) Nonbank financial company supervised by the board of
governors.--The term ``nonbank financial company supervised
by the Board of Governors'' means a nonbank financial company
that the Council has determined under section 113 shall be
supervised by the Board of Governors.
(5) Office of financial research.--The term ``Office of
Financial Research'' means the office established under
section 152.
(6) Significant institutions.--The terms ``significant
nonbank financial company'' and ``significant bank holding
company'' have the meanings given those terms by rule of the
Board of Governors.
(b) Foreign Nonbank Financial Companies.--
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