A bill to amend the Economic Growth, Regulatory Relief, and Consumer Protection Act to require the appropriate Federal banking agencies to develop a Community Bank Leverage Ratio that is between 8 percent and 8.5 percent for calendar years 2022, 2023, and 2024, and for other purposes.

12/30/2022, 3:34 AM

Congressional Summary of S 3409

This bill requires banking agencies to set the community bank leverage ratio between 8% and 8.5% for calendar years 2022, 2023, and 2024 for community banks seeking to satisfy simplified capital adequacy requirements. Currently, banking agencies are statutorily required to set the rate between 8% and 10% through rulemaking. Under current regulations, the rate will increase from 8.5% to 9% on January 1, 2022.

Read the Full Bill

Formatted Text PDF Formatted XML

Current Status of Bill S 3409

Bill S 3409 is currently in the status of Bill Introduced since December 15, 2021. Bill S 3409 was introduced during Congress 117 and was introduced to the Senate on December 15, 2021. Bill S 3409's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of December 15, 2021

Bipartisan Support of Bill S 3409

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 3409

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill S 3409

A bill to amend the Economic Growth, Regulatory Relief, and Consumer Protection Act to require the appropriate Federal banking agencies to develop a Community Bank Leverage Ratio that is between 8 percent and 8.5 percent for calendar years 2022, 2023, and 2024, and for other purposes.