Page:United States Statutes at Large Volume 124.djvu/1665

 124 STAT. 1639 PUBLIC LAW 111–203—JULY 21, 2010 period as the Board may deem appropriate) after the transfer date. ‘‘(B) OTHER ACTIVITIES.—Notwithstanding subpara- graph (A), the Board shall require a grandfathered unitary savings and loan holding company to establish an inter- mediate holding company if the Board makes a determina- tion that the establishment of such intermediate holding company is necessary— ‘‘(i) to appropriately supervise activities that are determined to be financial activities; or ‘‘(ii) to ensure that supervision by the Board does not extend to the activities of such company that are not financial activities. ‘‘(2) INTERNAL FINANCIAL ACTIVITIES.— ‘‘(A) TREATMENT OF INTERNAL FINANCIAL ACTIVITIES.— For purposes of this subsection, the internal financial activities of a grandfathered unitary savings and loan holding company shall not be required to be placed in an intermediate holding company. ‘‘(B) GRANDFATHERED ACTIVITIES.—A grandfathered unitary savings and loan holding company may continue to engage in an internal financial activity, subject to review by the Board to determine whether engaging in such activity presents undue risk to the grandfathered unitary savings and loan holding company or to the financial sta- bility of the United States, if— ‘‘(i) the grandfathered unitary savings and loan holding company engaged in the activity during the year before the date of enactment of this section; and ‘‘(ii) at least 2⁄3 of the assets or 2⁄3 of the revenues generated from the activity are from or attributable to the grandfathered unitary savings and loan holding company. ‘‘(3) SOURCE OF STRENGTH.—A grandfathered unitary savings and loan holding company that directly or indirectly controls an intermediate holding company established under this section shall serve as a source of strength to its subsidiary intermediate holding company. ‘‘(4) PARENT COMPANY REPORTS.—The Board, may from time to time, examine and require reports under oath from a grand- fathered unitary savings and loan holding company that con- trols an intermediate holding company, and from the appro- priate officers or directors of such company, solely for purposes of ensuring compliance with the provisions of this section, including assessing the ability of the company to serve as a source of strength to its subsidiary intermediate holding company as required under paragraph (3) and enforcing compli- ance with such requirement. ‘‘(5) LIMITED PARENT COMPANY ENFORCEMENT.— ‘‘(A) IN GENERAL.—In addition to any other authority of the Board, the Board may enforce compliance with the provisions of this subsection that are applicable to any company described in paragraph (1)(A) that controls an intermediate holding company under section 8 of the Fed- eral Deposit Insurance Act, and a company described in paragraph (1)(A) shall be subject to such section (solely for purposes of this subparagraph) in the same manner