Political Quotes

“Mr. President, I also wish to speak briefly on my amendment, No. 3879, which would help raise capital and risk standards for banks, bank holding companies, and nonbank financial institutions. It is not my intent that this amendment affect the treatment of small bank holding companies as provided under the Federal Reserve's Small Bank Holding Company Policy Statement, nor do I intend that the amendment apply to Federal Home Loan Banks. Likewise, I would like the record to reflect that the effective date for bank holding companies owned by foreign banking organizations that obtained an exemption from capital requirements pursuant to the Federal Reserve's Supervision and Regulation Letter SR-01-1 should be 5 years after enactment. I look forward to working with my colleagues to ensure that this intent is properly reflected in the final language of this reform bill.”