Page:United States Statutes at Large Volume 124.djvu/1429

 124 STAT. 1403 PUBLIC LAW 111–203—JULY 21, 2010 SEC. 114. REGISTRATION OF NONBANK FINANCIAL COMPANIES SUPER- VISED BY THE BOARD OF GOVERNORS. Not later than 180 days after the date of a final Council determination under section 113 that a nonbank financial company is to be supervised by the Board of Governors, such company shall register with the Board of Governors, on forms prescribed by the Board of Governors, which shall include such information as the Board of Governors, in consultation with the Council, may deem necessary or appropriate to carry out this title. SEC. 115. ENHANCED SUPERVISION AND PRUDENTIAL STANDARDS FOR NONBANK FINANCIAL COMPANIES SUPERVISED BY THE BOARD OF GOVERNORS AND CERTAIN BANK HOLDING COMPANIES. (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 activi- ties of large, interconnected financial institutions, the Council may make recommendations to the Board of Governors con- cerning the establishment and refinement of prudential stand- ards and reporting and disclosure requirements applicable to nonbank financial companies supervised by the Board of Gov- ernors 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 $50,000,000,000 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 require- ments; (E) concentration limits; (F) a contingent capital requirement; (G) enhanced public disclosures; (H) short-term debt limits; and (I) overall risk management requirements. 12 USC 5325. Deadline. 12 USC 5324.