§ 5326. Reports

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 2010

   Financial Stability Act of 2010

   Pub. L. 111–203 title I § 116 · 124 Stat. 1376

   Enacted · 12 U.S.C. § 5326

   Pub. L. 111–203, title I, § 116, July 21, 2010, 124 Stat. 1406

   Source evidence

   Code source credit
   Pub. L. 111–203, title I, § 116, July 21, 2010, 124 Stat. 1406

   Enacted provision · exact public law section
   SEC. 116. REPORTS. (a) In General.— Subject to subsection (b), the Council, acting through the Office of Financial Research, may require a bank holding company with total consolidated assets of $50,000,000,000 or greater or a nonbank financial company supervised by the Board of Governors, and any subsidiary thereof, to submit certified reports to keep the Council informed as to— (1) the financial condition of the company; (2) systems for monitoring and controlling financial, operating, and other risks; (3) transactions with any subsidiary that is a depository institution; and (4) the extent to which the activities and operations of the company and any subsidiary thereof, could, under adverse circumstances, have the potential to disrupt financial markets or affect the overall financial stability of the United States. (b) Use of Existing Reports.— (1) In general.— For purposes of compliance with subsection (a), the Council, acting through the Office of Financial Research, shall, to the fullest extent possible, use— (A) reports that a bank holding company, nonbank financial company supervised by the Board of Governors, or any functionally regulated subsidiary of such company has been required to provide to other Federal or State regulatory agencies or to a relevant foreign supervisory authority; (B) information that is otherwise required to be reported publicly; and (C) externally audited financial statements. (2) Availability.— Each bank holding company described in subsection (a) and nonbank financial company supervised by the Board of Governors, and any subsidiary thereof, shall provide to the Council, at the request of the Council, copies of all reports referred to in paragraph (1). (3) Confidentiality.— The Council shall maintain the confidentiality of the reports obtained under subsection (a) and paragraph (1)(A) of this subsection.

2. 2018

   Economic Growth, Regulatory Relief, and Consumer Protection Act

   Pub. L. 115–174 title IV § 401(c)(1)(B) · 132 Stat. 1296

   Substituted · 12 U.S.C. § 5326(a)

   Pub. L. 115–174 substituted “$250,000,000,000” for “$50,000,000,000” in introductory provisions

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 115–174 substituted “$250,000,000,000” for “$50,000,000,000” in introductory provisions.

   Enacted provision · exact public law section
   (B) in section 116(a) (12 U.S.C. 5326(a)), in the matter preceding paragraph (1), by striking “$50,000,000,000” and inserting “$250,000,000,000”;

   Effective date note
   Except as otherwise provided, amendment by Pub. L. 115–174 effective 18 months after May 24, 2018, see section 401(d) of Pub. L. 115–174, set out as a note under section 5365 of this title.

2 of 2 references resolved to an enrolled provision