S.Amdt. 4012

SA 4012. Mrs. SHAHEEN (for herself, Mr. Brown of Massachusetts, Mr.
Kerry, Mr. Gregg, and Mr. Nelson of Nebraska) 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 295, between lines 19 and 20, insert the following:
(t) Treatment of Certain Nonbank Financial Companies Not
Subject to Orderly Liquidation.--
(1) In general.--Subsections (n) and (o) shall not apply to
any nonbank financial company that is subject to liquidation
or rehabilitation under State law, unless such company--
(A) is determined to be a nonbank financial company
supervised by the Board of Governors pursuant to section 113;
or
(B) is determined by the Corporation to have benefitted
financially from the orderly liquidation of a covered
financial company and the use of the Fund under this title by
receiving payments or credit pursuant to subsection (b)(4),
(d)(4), or (h)(5)(E).
(2) Exclusion of assets.--Any assets of a nonbank financial
company described in paragraph (1) shall be excluded for
purposes of calculating a financial company's total
consolidated assets under subsection (o).
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