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12 U.S.C. § 5365 — Reports by and examinations of nonbank financial companies by the Board of Governors
Federal law — U.S. Code and appendices · legal_authorities
**(a) Reports**
(1) **In general** — The Board of Governors may require each nonbank financial company supervised by the Board of Governors, and any subsidiary thereof, to submit reports under oath, to keep the Board of Governors informed as to—
(A) the financial condition of the company or subsidiary, systems of the company or subsidiary for monitoring and controlling financial, operating, and other risks, and the extent to which the activities and operations of the company or subsidiary pose a threat to the financial stability of the United States; and
(B) compliance by the company or subsidiary with the requirements of this subchapter.
(2) **Use of existing reports and information** — In carrying out subsection (a), the Board of Governors shall, to the fullest extent possible, use—
(A) reports and supervisory information that a nonbank financial company or subsidiary thereof has been required to provide to other Federal or State regulatory agencies;
(B) information otherwise obtainable from Federal or State regulatory agencies;
(C) information that is otherwise required to be reported publicly; and
(D) externally audited financial statements of such company or subsidiary.
(3) **Availability** — Upon the request of the Board of Governors, a nonbank financial company supervised by the Board of Governors, or a subsidiary thereof, shall promptly provide to the Board of Governors any information described in paragraph (2).
(4) **Data standards for reports under this subsection**
(A) *In general* — The Board of Governors shall adopt data standards for all information that, through a collection of information, is regularly filed with or submitted to the Board of Governors under this subsection by any nonbank financial company supervised by the Board
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Source location: Title 12, Chapter 53, § 5365; chapter-053-wall-street-reform-and-consumer-protection.md
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**(a) Reports**
(1) **In general** — The Board of Governors may require each nonbank financial company supervised by the Board of Governors, and any subsidiary thereof, to submit reports under oath, to keep the Board of Governors informed as to—
(A) the financial condition of the company or subsidiary, systems of the company or subsidiary for monitoring and controlling financial, operating, and other risks, and the extent to which the activities and operations of the company or subsidiary pose a threat to the financial stability of the United States; and
(B) compliance by the company or subsidiary with the requirements of this subchapter.
(2) **Use of existing reports and information** — In carrying out subsection (a), the Board of Governors shall, to the fullest extent possible, use—
(A) reports and supervisory information that a nonbank financial company or subsidiary thereof has been required to provide to other Federal or State regulatory agencies;
(B) information otherwise obtainable from Federal or State regulatory agencies;
(C) information that is otherwise required to be reported publicly; and
(D) externally audited financial statements of such company or subsidiary.
(3) **Availability** — Upon the request of the Board of Governors, a nonbank financial company supervised by the Board of Governors, or a subsidiary thereof, shall promptly provide to the Board of Governors any information described in paragraph (2).
(4) **Data standards for reports under this subsection**
(A) *In general* — The Board of Governors shall adopt data standards for all information that, through a collection of information, is regularly filed with or submitted to the Board of Governors under this subsection by any nonbank financial company supervised by the Board of Governors or any subsidiary thereof.
(B) *Consistency* — The data standards required under subparagraph (A) shall incorporate, and ensure compatibility with (to the extent feasible), all applicable data standards established in the rules promulgated under [section 5334 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5334&num=0&edition=prelim), including, to the extent practicable, by having the characteristics described in clauses (i) through (vi) of subsection (c)(1)(B) of [section 5334 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5334&num=0&edition=prelim).
**(b) Examinations**
(1) **In general** — Subject to paragraph (2), the Board of Governors may examine any nonbank financial company supervised by the Board of Governors and any subsidiary of such company, to inform the Board of Governors of—
(A) the nature of the operations and financial condition of the company and such subsidiary;
(B) the financial, operational, and other risks of the company or such subsidiary that may pose a threat to the safety and soundness of such company or subsidiary or to the financial stability of the United States;
(C) the systems for monitoring and controlling such risks; and
(D) compliance by the company or such subsidiary with the requirements of this subchapter.
(2) **Use of examination reports and information** — For purposes of this subsection, the Board of Governors shall, to the fullest extent possible, rely on reports of examination of any subsidiary depository institution or functionally regulated subsidiary made by the primary financial regulatory agency for that subsidiary, and on information described in subsection (a)(2).
**(c) Coordination with primary financial regulatory agency** The Board of Governors shall—
(1) provide reasonable notice to, and consult with, the primary financial regulatory agency for any subsidiary before requiring a report or commencing an examination of such subsidiary under this section; and
(2) avoid duplication of examination activities, reporting requirements, and requests for information, to the fullest extent possible.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Secretary is authorized to promulgate regulations to implement and administer the grant programs and undertakings authorized by this subchapter.
**(b) Regulatory authority** Regulations prescribed under this section may contain such classifications, differentiations, or other provisions, and may provide for such adjustments and exceptions for any class of grant programs, undertakings, or eligible entities, as, in the judgment of the Secretary, are necessary or proper to effectuate the purposes of this subchapter, to prevent circumvention or evasion of this subchapter, or to facilitate compliance with this subchapter.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5301
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Federal law — U.S. Code and appendices · legal_authorities
All public data assets published by the Board of Governors under this chapter, the Bank Holding Company Act of 1956 ([12 U.S.C. 1841](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1841&num=0&edition=prelim) et seq.), the Financial Stability Act of 2010 ([12 U.S.C. 5311](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5311&num=0&edition=prelim) et seq.), the Home Owners’ Loan Act ([12 U.S.C. 1461](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1461&num=0&edition=prelim) et seq.), the Payment, Clearing, and Settlement Supervision Act of 2010 ([12 U.S.C. 5461](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5461&num=0&edition=prelim) et seq.), or the Enhancing Financial Institution Safety and Soundness Act of 2010 (title III of Public Law 111–203) (or any provision of law amended by that Act) shall be—
(1) made available as an open Government data asset (as defined in [section 3502 of title 44](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title44-section3502&num=0&edition=prelim));
(2) freely available for download;
(3) rendered in a human-readable format; and
(4) accessible via application programming interface where appropriate.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 253
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Council may provide for more stringent regulation of a financial activity by issuing recommendations to the primary financial regulatory agencies to apply new or heightened standards and safeguards, including standards enumerated in [section 5325 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5325&num=0&edition=prelim), for a financial activity or practice conducted by bank holding companies or nonbank financial companies under their respective jurisdictions, if the Council determines that the conduct, scope, nature, size, scale, concentration, or interconnectedness of such activity or practice could create or increase the risk of significant liquidity, credit, or other problems spreading among bank holding companies and nonbank financial companies, financial markets of the United States, or low-income, minority, or underserved communities.
**(b) Procedure for recommendations to regulators**
(1) **Notice and opportunity for comment** — The Council shall consult with the primary financial regulatory agencies and provide notice to the public and opportunity for comment for any proposed recommendation that the primary financial regulatory agencies apply new or heightened standards and safeguards for a financial activity or practice.
(2) **Criteria** — The new or heightened standards and safeguards for a financial activity or practice recommended under paragraph (1)—
(A) shall take costs to long-term economic growth into account; and
(B) may include prescribing the conduct of the activity or practice in specific ways (such as by limiting its scope, or applying particular capital or risk management requirements to the conduct of the activity) or prohibiting the activity or practice.
**(c) Implementa
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5334
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Resolving problems to protect Deposit Insurance Fund**
(1) **Purpose** — The purpose of this section is to resolve the problems of insured depository institutions at the least possible long-term loss to the Deposit Insurance Fund.
(2) **Prompt corrective action required** — Each appropriate Federal banking agency and the Corporation (acting in the Corporation’s capacity as the insurer of depository institutions under this chapter) shall carry out the purpose of this section by taking prompt corrective action to resolve the problems of insured depository institutions.
**(b) Definitions** For purposes of this section:
(1) **Capital categories**
(A) *Well capitalized* — An insured depository institution is “well capitalized” if it significantly exceeds the required minimum level for each relevant capital measure.
(B) *Adequately capitalized* — An insured depository institution is “adequately capitalized” if it meets the required minimum level for each relevant capital measure.
(C) *Undercapitalized* — An insured depository institution is “undercapitalized” if it fails to meet the required minimum level for any relevant capital measure.
(D) *Significantly undercapitalized* — An insured depository institution is “significantly undercapitalized” if it is significantly below the required minimum level for any relevant capital measure.
(E) *Critically undercapitalized* — An insured depository institution is “critically undercapitalized” if it fails to meet any level specified under subsection (c)(3)(A).
(2) **Other definitions**
(A) *Average*
(i) *In general* — The “average” of an accounting item (such as total assets or tangible equity) during a given period means the sum of that item at the close of business on each business day during that p
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1831o
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Federal law — U.S. Code and appendices · legal_authorities
The Board of Governors of the Federal Reserve System shall be authorized and empowered:
**(a) Examination of accounts and affairs of banks; publication of weekly statements; reports of liabilities and assets of depository institutions; covered institutions**
(1) To examine at its discretion the accounts, books, and affairs of each Federal reserve bank and of each member bank and to require such statements and reports as it may deem necessary. The said board shall publish once each week a statement showing the condition of each Federal reserve bank and a consolidated statement for all Federal reserve banks. Such statements shall show in detail the assets and liabilities of the Federal reserve banks, single and combined, and shall furnish full information regarding the character of the money held as reserve and the amount, nature, and maturities of the paper and other investments owned or held by Federal reserve banks.
(2) To require any depository institution specified in this paragraph to make, at such intervals as the Board may prescribe, such reports of its liabilities and assets as the Board may determine to be necessary or desirable to enable the Board to discharge its responsibility to monitor and control monetary and credit aggregates. Such reports shall be made (A) directly to the Board in the case of member banks and in the case of other depository institutions whose reserve requirements under sections 461, 463, 464, 465, and 466 of this title exceed zero, and (B) for all other reports to the Board through the (i) Federal Deposit Insurance Corporation in the case of insured State savings associations that are insured depository institutions (as defined in [section 1813 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 248
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** For purposes of this section, the following definitions shall apply:
(1) **Generally applicable leverage capital requirements** — The term “generally applicable leverage capital requirements” means—
(A) the minimum ratios of tier 1 capital to average total assets, as established by the appropriate Federal banking agencies to apply to insured depository institutions under the prompt corrective action regulations implementing section 1831o of this title, regardless of total consolidated asset size or foreign financial exposure; and
(B) includes the regulatory capital components in the numerator of that capital requirement, average total assets in the denominator of that capital requirement, and the required ratio of the numerator to the denominator.
(2) **Generally applicable risk-based capital requirements** — The term “generally applicable risk-based capital requirements” means—
(A) the risk-based capital requirements, as established by the appropriate Federal banking agencies to apply to insured depository institutions under the prompt corrective action regulations implementing section 1831o of this title, regardless of total consolidated asset size or foreign financial exposure; and
(B) includes the regulatory capital components in the numerator of those capital requirements, the risk-weighted assets in the denominator of those capital requirements, and the required ratio of the numerator to the denominator.
(3) **Definition of depository institution holding company** — The term “depository institution holding company” means a bank holding company or a savings and loan holding company (as those terms are defined in [section 1813 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edit
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5311
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Federal law — U.S. Code and appendices · legal_authorities
As used in this Act, the following definitions shall apply, except as the context otherwise requires or as otherwise specifically provided in this Act:
(1) **Affiliate** — The term “affiliate” has the same meaning as in [section 1813 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edition=prelim).
(2) **Appropriate Federal banking agency** — On and after the transfer date, the term “appropriate Federal banking agency” has the same meaning as in [section 1813(q) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813/q&num=0&edition=prelim), as amended by title III.11 See References in Text note below.
(3) **Board of Governors** — The term “Board of Governors” means the Board of Governors of the Federal Reserve System.
(4) **Bureau** — The term “Bureau” means the Bureau of Consumer Financial Protection established under title X.1
(5) **Commission** — The term “Commission” means the Securities and Exchange Commission, except in the context of the Commodity Futures Trading Commission.
(6) **Commodity futures terms** — The terms “futures commission merchant”, “swap”, “swap dealer”, “swap execution facility”, “derivatives clearing organization”, “board of trade”, “commodity trading advisor”, “commodity pool”, and “commodity pool operator” have the same meanings as given the terms in section 1a of the Commodity Exchange Act ([7 U.S.C. 1](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1&num=0&edition=prelim) et seq.) [[7 U.S.C. 1a](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1a&num=0&edition=prelim)].
(7) **Corporation** — The term “Corporation” means the Federal Deposit Insurance Corporation.
(8) **Council** — The ter
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5321
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general**
(1) **Purpose** — In order to prevent or mitigate risks to the financial stability of the United States that could arise from the material financial distress, failure, or ongoing activities of large, interconnected financial institutions, the Council may make recommendations to the Board of Governors concerning the establishment and refinement of prudential standards and reporting and disclosure requirements applicable to nonbank financial companies supervised by the Board of Governors and large, interconnected bank holding companies, that—
(A) are more stringent than those applicable to other nonbank financial companies and bank holding companies that do not present similar risks to the financial stability of the United States; and
(B) increase in stringency, based on the considerations identified in subsection (b)(3).
(2) **Recommended application of required standards** — In making recommendations under this section, the Council may—
(A) differentiate among companies that are subject to heightened standards on an individual basis or by category, taking into consideration their capital structure, riskiness, complexity, financial activities (including the financial activities of their subsidiaries), size, and any other risk-related factors that the Council deems appropriate; or
(B) recommend an asset threshold that is higher than the applicable threshold for the application of any standard described in subsections (c) through (g).
**(b) Development of prudential standards**
(1) **In general** — The recommendations of the Council under subsection (a) may include—
(A) risk-based capital requirements;
(B) leverage limits;
(C) liquidity requirements;
(D) resolution plan and credit exposure report requirements;
(E) concentra
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5329
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Federal law — U.S. Code and appendices · legal_authorities
**(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 $250,000,000,000 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
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5330
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Mitigatory actions** If the Board of Governors determines that a bank holding company with total consolidated assets of $250,000,000,000 or more, or a nonbank financial company supervised by the Board of Governors, poses a grave threat to the financial stability of the United States, the Board of Governors, upon an affirmative vote of not fewer than ⅔ of the voting members of the Council then serving, shall—
(1) limit the ability of the company to merge with, acquire, consolidate with, or otherwise become affiliated with another company;
(2) restrict the ability of the company to offer a financial product or products;
(3) require the company to terminate one or more activities;
(4) impose conditions on the manner in which the company conducts 1 or more activities; or
(5) if the Board of Governors determines that the actions described in paragraphs (1) through (4) are inadequate to mitigate a threat to the financial stability of the United States in its recommendation, require the company to sell or otherwise transfer assets or off-balance-sheet items to unaffiliated entities.
**(b) Notice and hearing**
(1) **In general** — The Board of Governors, in consultation with the Council, shall provide to a company described in subsection (a) written notice that such company is being considered for mitigatory action pursuant to this section, including an explanation of the basis for, and description of, the proposed mitigatory action.
(2) **Hearing** — Not later than 30 days after the date of receipt of notice under paragraph (1), the company may request, in writing, an opportunity for a written or oral hearing before the Board of Governors to contest the proposed mitigatory action. Upon receipt of a timely request, the Board of Governors shall fix a time (not late
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5335
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