H.R. 6555 — Enhancing Bank Resolution Participation Act

This section directs the Comptroller of the Currency, the Federal Deposit Insurance Corporation (FDIC), and the Board of Governors of the Federal Reserve System to jointly conduct a study on (1) the Comptroller's use of shelf charters (i.e., pre-approved national bank charters held in reserve for rapid deployment, per Comptroller guidance), including conditional or preliminary approvals granted from January 1, 2008, through enactment; (2) the FDIC's use of the modified bidder qualification process (i.e., expanded eligibility for non-chartered entities to bid on failed banks, per FDIC's November 26, 2008, press release); (3) the application of the Bank Holding Company Act of 1956 and section 10 of the Home Owners' Loan Act to shelf charter proposals; (4) any use of these mechanisms in 2023 FDIC receiverships of insured depository institutions; (5) for those receiverships, the potential for greater use to expand bidder pools, increase competition, protect the Deposit Insurance Fund, enhance financial stability, or reduce reliance on Treasury emergency determinations under section 13(c)(4)(G) of the Federal Deposit Insurance Act; (6) overall impacts since January 1, 2008, on financial stability, bank safety and soundness, and consumer access to financial products and services; and (7) benefits and risks of private equity bank ownership via these processes. The agencies must submit a joint report to the House Committee on Financial Services and the Senate Committee on Banking, Housing, and Urban Affairs within one year of enactment containing all study findings and recommendations to address statutory or regulatory barriers to these mechanisms in resolving failed insured depository institutions.