S.Amdt. 4096

SA 4096. Mr. LEVIN (for himself, Mr. Kaufman, and Mr. Reed) 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 370, between lines 13 and 14, insert the following:

SEC. 333. FDIC EXAMINATION AUTHORITY.

(a) Examination Authority for Insurance and Orderly
Liquidation Purposes.--Section 10(b)(3) of the Federal
Deposit Insurance Act (12 U.S.C. 1820(b)(3)) is amended by
striking ``whenever the Board'' and all that follows through
the period at the end and inserting the following: ``or
depository institution holding company whenever the
Chairperson or the Board of Directors determines that a
special examination of any such depository institution or
depository institution holding company is necessary to
determine the condition of such depository institution or
depository institution holding company for insurance purposes
or for purposes of title II of the Restoring American
Financial Stability Act of 2010.''.
(b) Enforcement Authority.--Section 8(t) of the Federal
Deposit Insurance Act (12 U.S.C. 1818(t)) is amended--
(1) in paragraph (1)--
(A) by striking ``based on an examination of an insured
depository institution'' and inserting ``based on an
examination of an insured depository institution or
depository institution holding company''; and
(B) by striking ``with respect to any insured depository
institution or'' and inserting ``with respect to any insured
depository institution, depository institution holding
company, or'';
(2) in paragraph (2)--
(A) by striking ``Board of Directors determines, upon a
vote of its members,'' and inserting ``Board of Directors,
upon a vote of its members, or the Chairperson determines'';
(B) in subparagraph (B), by striking ``or'' at the end;
(C) in subparagraph (C), by striking the period at the end
and inserting ``; or''; and
(D) by adding at the end the following:
``(D) the conduct or threatened conduct (including any acts
or omissions) of the depository institution holding company
poses a risk to the Deposit Insurance Fund or of the exercise
of authority under title II of the Restoring American
Financial Stability Act of 2010, or may prejudice the
interests of the depositors of an affiliated institution.'';

[[Page S3933]]

(3) in paragraph (3)(A), by striking ``upon a vote of the
Board of Directors'' and inserting ``upon a determination by
the Chairperson or upon a vote of the Board of Directors'';
(4) in paragraph (4)(A)--
(A) by striking ``any insured depository institution'' and
inserting ``any insured depository institution, depository
institution holding company,''; and
(B) by striking ``the institution'' and inserting ``the
institution, holding company,'';
(5) in paragraph (4)(B), by striking ``the institution''
each place that term appears and inserting ``the institution,
holding company,''; and
(6) in paragraph (5)(A), by striking ``an insured
depository institution'' and inserting ``an insured
depository institution, depository institution holding
company,''.
(c) Back-up Examination Authority for Orderly Liquidation
Purposes.--The Federal Deposit Insurance Act (12 U.S.C. 1811
et seq.) is amended by adding at the end the following:

``SEC. 51. BACK-UP EXAMINATION AUTHORITY FOR ORDERLY
LIQUIDATION PURPOSES.

``The Corporation may conduct a special examination of a
nonbank financial company supervised by the Board of
Governors of the Federal Reserve System under section 113 of
the Restoring American Financial Stability Act of 2010, if
the Chairperson or the Board of Directors determines an
examination is necessary to determine the condition of the
company for purposes of title II of that Act.''.
(d) Access to Information for Insurance and Orderly
Liquidation Purposes.--The Federal Deposit Insurance Act is
amended by adding at the end the following:

``SEC. 52. ACCESS TO INFORMATION FOR INSURANCE AND ORDERLY
LIQUIDATION PURPOSES.

``(a) Access to Information.--The Corporation may, if the
Corporation determines that such action is necessary to carry
out its responsibilities relating to deposit insurance or
orderly liquidation--
``(1) obtain information from an insured depository
institution, depository institution holding company, or
nonbank financial company supervised by the Board of
Governors of the Federal Reserve System under section 113 of
the Restoring American Financial Stability Act of 2010;
``(2) obtain information from the appropriate Federal
banking agency, or any regulator of a nonbank financial
company supervised by the Board of Governors of the Federal
Reserve System under section 113 of the Restoring American
Financial Stability Act of 2010, including examination
reports; and
``(3) participate in any examination, visitation, or risk-
scoping activity of an insured depository institution,
depository institution holding company, or nonbank financial
company supervised by the Board of Governors of the Federal
Reserve System under section 113 of the Restoring American
Financial Stability Act of 2010.
``(b) Enforcement.--The Corporation shall have the
authority to take any enforcement action under section 8
against any institution or company described in paragraph (1)
of subsection (a) that fails to provide any information
requested under that paragraph.
``(c) Use of Available Information.--The Corporation shall
use, in lieu of a request for information under subsection
(a), information provided to another Federal or State
regulatory agency, publicly available information, or
externally audited financial statements to the extent that
the Corporation determines such information is adequate to
the needs of the Corporation.''.
______