Page:United States Statutes at Large Volume 124.djvu/1628

 124 STAT. 1602 PUBLIC LAW 111–203—JULY 21, 2010 commence any activity, or acquire any company, pursu- ant to paragraph (4) or any regulation prescribed or order issued under paragraph (5), without prior approval of the Board. ‘‘(ii) EXCEPTION.—A financial holding company may not acquire a company, without the prior approval of the Board, in a transaction in which the total consoli- dated assets to be acquired by the financial holding company exceed $10,000,000,000. ‘‘(iii) HART-SCOTT-RODINO FILING REQUIREMENT.— Solely for purposes of section 7A(c)(8) of the Clayton Act (15 U.S.C. 18a(c)(8)), the transactions subject to the requirements of this paragraph shall be treated as if the approval of the Board is not required.’’. (f) BANK MERGER ACT TRANSACTIONS.—Section 18(c)(5) of the Federal Deposit Insurance Act (12 U.S.C. 1828(c)(5)) is amended, in the matter immediately following subparagraph (B), by striking ‘‘and the convenience and needs of the community to be served’’ and inserting ‘‘the convenience and needs of the community to be served, and the risk to the stability of the United States banking or financial system’’. (g) REPORTS BY SAVINGS AND LOAN HOLDING COMPANIES.— Section 10(b)(2) of the Home Owners’ Loan Act (12 U.S.C. 1467a(b)(2) is amended— (1) by striking ‘‘Each savings’’ and inserting the following: ‘‘(A) IN GENERAL.—Each savings’’; and (2) by adding at the end the following: ‘‘(B) USE OF EXISTING REPORTS AND OTHER SUPERVISORY INFORMATION.—The Board shall, to the fullest extent pos- sible, use— ‘‘(i) reports and other supervisory information that the savings and loan holding company or any sub- sidiary thereof has been required to provide to other Federal or State regulatory agencies; ‘‘(ii) externally audited financial statements of the savings and loan holding company or subsidiary; ‘‘(iii) information that is otherwise available from Federal or State regulatory agencies; and ‘‘(iv) information that is otherwise required to be reported publicly. ‘‘(C) AVAILABILITY.—Upon the request of the Board, a savings and loan holding company or a subsidiary of a savings and loan holding company shall promptly provide to the Board any information described in clauses (i) through (iii) of subparagraph (B).’’. (h) EXAMINATION OF SAVINGS AND LOAN HOLDING COMPANIES.— (1) DEFINITIONS.—Section 2 of the Home Owners’ Loan Act (12 U.S.C. 1462) is amended by adding at the end the following: ‘‘(10) APPROPRIATE FEDERAL BANKING AGENCY.—The term ‘appropriate Federal banking agency’ has the same meaning as in section 3(q) of the Federal Deposit Insurance Act (12 U.S.C. 1813(q)). ‘‘(11) FUNCTIONALLY REGULATED SUBSIDIARY.—The term ‘functionally regulated subsidiary’ has the same meaning as in section 5(c)(5) of the Bank Holding Company Act of 1956 (12 U.S.C. 1844(c)(5)).’’.