Page 32 — Public Law 111-203 including PTFA amendments

124 STAT. 1406 PUBLIC LAW 111–203—JULY 21, 2010

(f) ENHANCED PUBLIC DISCLOSURES.—The Council may make
recommendations to the Board of Governors to require periodic
public disclosures by bank holding companies described in sub-
section (a) and by nonbank financial companies supervised by the
Board of Governors, in order to support market evaluation of the
risk profile, capital adequacy, and risk management capabilities
thereof.
(g) SHORT-TERM DEBT LIMITS.—The Council may make rec-
ommendations to the Board of Governors to require short-term
debt limits to mitigate the risks that an over-accumulation of such
debt could pose to bank holding companies described in subsection
(a), nonbank financial companies supervised by the Board of Gov-
ernors, or the financial system.

12 USC 5326. SEC. 116. REPORTS.
(a) IN GENERAL.—Subject to subsection (b), the Council, acting
through the Office of Financial Research, may require a bank
holding company with total consolidated assets of $50,000,000,000
or greater or a nonbank financial company supervised by the Board
of Governors, and any subsidiary thereof, to submit certified reports
to keep the Council informed as to—
(1) the financial condition of the company;
(2) systems for monitoring and controlling financial, oper-
ating, and other risks;
(3) transactions with any subsidiary that is a depository
institution; and
(4) the extent to which the activities and operations of
the company and any subsidiary thereof, could, under adverse
circumstances, have the potential to disrupt financial markets
or affect the overall financial stability of the United States.
(b) USE OF EXISTING REPORTS.—
(1) IN GENERAL.—For purposes of compliance with sub-
section (a), the Council, acting through the Office of Financial
Research, shall, to the fullest extent possible, use—
(A) reports that a bank holding company, nonbank
financial company supervised by the Board of Governors,
or any functionally regulated subsidiary of such company
has been required to provide to other Federal or State
regulatory agencies or to a relevant foreign supervisory
authority;
(B) information that is otherwise required to be
reported publicly; and
(C) externally audited financial statements.
(2) AVAILABILITY.—Each bank holding company described
in subsection (a) and nonbank financial company supervised
by the Board of Governors, and any subsidiary thereof, shall
provide to the Council, at the request of the Council, copies
of all reports referred to in paragraph (1).
(3) CONFIDENTIALITY.—The Council shall maintain the con-
fidentiality of the reports obtained under subsection (a) and
paragraph (1)(A) of this subsection.

12 USC 5327. SEC. 117. TREATMENT OF CERTAIN COMPANIES THAT CEASE TO BE
BANK HOLDING COMPANIES.

LAWS (a) APPLICABILITY.—This section shall apply to— (1) any entity that—PUBLIC with on anorris VerDate Nov 24 2008 00:54 Jul 29, 2010 Jkt 089139 PO 00203 Frm 00032 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 GPO1 PsN: PUBL203