Capital Access for Main Street Act of 2011

Capital Access for Main Street Act of 2011 - Authorizes an insured depository institution with assets of less than $10 billion, for purposes of capital calculation under the Financial Institutions Examination Council's Consolidated Reports of Condition and Income, to choose to amortize any loss or write-down, on a quarterly straight-line basis over a seven-year period, which it has incurred with respect to: (1) a loan secured by commercial real estate, or (2) other real estate owned.

[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1356 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 1356

 To provide amortization authority in certain situations, for purposes 
  of capital calculation under the Financial Institutions Examination 
        Council's Consolidated Reports of Condition and Income.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 4, 2011

 Mr. Perlmutter (for himself, Mr. Coffman of Colorado, Mr. Tipton, and 
 Mr. Gardner) introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To provide amortization authority in certain situations, for purposes 
  of capital calculation under the Financial Institutions Examination 
        Council's Consolidated Reports of Condition and Income.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Capital Access for Main Street Act 
of 2011''.

SEC. 2. COMMERCIAL REAL ESTATE LOAN LOSS AMORTIZATION.

    (a) In General.--For purposes of capital calculation under the 
Financial Institutions Examination Council's Consolidated Reports of 
Condition and Income, an insured depository institution with assets of 
less than $10,000,000,000 may choose to amortize any loss or write-
down, on a quarterly straight-line basis over the 7-year period 
beginning with the month in which such loss or write-down occurs, 
incurred with respect to--
            (1) a loan secured by commercial real estate; or
            (2) other real estate owned.
    (b) Effective Date.--The provisions of this section shall apply 
with respect to capital calculations under Consolidated Reports of 
Condition and Income made for losses and write-downs referred to in 
subsection (a) that occur during the 3-year period beginning on the 
date of the enactment of this Act.
    (c) Definitions.--For purposes of this section:
            (1) Insured depository institution.--The term ``insured 
        depository institution'' shall have the meaning given such term 
        under section 3(c)(2) of the Federal Deposit Insurance Act (12 
        U.S.C. 1813(c)(2)).
            (2) Other real estate owned.--The term ``other real estate 
        owned'' shall have the meaning given such term under section 
        34.81 of title 12, Code of Federal Regulations.
                                 <all>