United States · Bill · S
S. 3502 (116th)
Community Bank Regulatory Relief Act
Introduced
16 March 2020
Last action
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Status
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sponsors
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Subjects
Discovery layer
Source updated
14 January 2025
Summary
Community Bank Regulatory Relief Act This bill delays required compliance with certain accounting standards applicable to credit losses (i.e., current expected credit losses standards, also known as CECL standards). Specifically, no agency may require a person to comply with this standard with respect to a fiscal year beginning before December 31, 2024. Additionally, the community bank leverage ratio is set at 8% for community banks seeking to satisfy simplified capital adequacy requirements. Currently, banking agencies are required to set the rate between 8% and 10% through rulemaking.
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate · EN · 16 March 2020
Introduced in Senate (PDF)
Introduced in Senate · EN · 16 March 2020
Introduced in Senate
summary · EN · 16 March 2020
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/116th-congress/senate-bill/3502
- Open data entity: https://api.congress.gov/v3/bill/116/s/3502