Page:United States Statutes at Large Volume 124.djvu/1432

 124 STAT. 1406 PUBLIC LAW 111–203—JULY 21, 2010 (f) ENHANCED PUBLIC DISCLOSURES.—The Council may make recommendations to the Board of Governors to require periodic public disclosures by bank holding companies described in sub- section (a) and by nonbank financial companies supervised by the Board of Governors, in order to support market evaluation of the risk profile, capital adequacy, and risk management capabilities thereof. (g) SHORT-TERM DEBT LIMITS.—The Council may make rec- ommendations to the Board of Governors to require short-term debt limits to mitigate the risks that an over-accumulation of such debt could pose to bank holding companies described in subsection (a), nonbank financial companies supervised by the Board of Gov- ernors, or the financial system. 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, oper- ating, 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 sub- section (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 con- fidentiality of the reports obtained under subsection (a) and paragraph (1)(A) of this subsection. SEC. 117. TREATMENT OF CERTAIN COMPANIES THAT CEASE TO BE BANK HOLDING COMPANIES. (a) APPLICABILITY.—This section shall apply to— (1) any entity that— 12 USC 5327. 12 USC 5326.