་ the demands of its depositors or p tions in the normal course and the sonable prospect for it to do so wi assistance; or "(ii) the bank has incurred o incur losses that will deplete all o all of its capital and there is no rea pect for replenishment of the b without Federal assistance; or "(iii) other grounds exist or exist under applicable State law f bank; and 12 13 follows: "(10) In any transaction authorized under this subsec 14 tion, no assistance by the Corporation shall be provided to a 15 subsidiary of a holding company that is not an insured 16 bank.". 17 18 UNASSISTED EXTRAORDINARY ACQUISITIONS SEC. 3. Section 3(d) of the Bank Holding Company Act 19 (12 U.S.C. 1842(d)) is amended by designating the first para20 graph thereof as paragraph (1) and inserting at the end there21 of the following new paragraphs: 22 "(2) Notwithstanding the provisions of paragraph (1) of 23 this subsection or any provision of State law or the constitu 24 tion of any State. 25 26 "(A) a bank holding company may acquire and retain the shares or assets of HR 4701 IN provided in either case that the total bank or banks in danger of closing re 33 per centum of the total assets of all "(C) A bank holding company th assets or shares of a bank in danger subparagraph (A) or (B) may acquire located in the three largest metropolita ed metropolitan statistical areas or citi in which a bank acquired pursuant to t located to the same extent as bank h that is principally located (as defined i hereof) in such State; of 23 24 12 1 2 3 4 5 6 10 "(D) A bank holding company that acquires and retains control of one or more banks pursuant to this paragraph shall not, by reason of such acquisition or retention, be required to divest any other bank or banks or be prevented from acquiring any other banks. "(3) A bank holding company may not acquire the 7 shares or assets of a bank or bank holding company under 8 paragraph (2)(A) or (B) unless the acquisition has been ap9 proved by the board of directors of such bank or of a bank 10 holding company that controls such bank. 11 "(4)(A) A bank is in danger of closing if the appropriate 12 Federal or State chartering authority certifies in writing 13 that "(i) the bank is not likely to be able to meet the demands of its depositors or pay its obligations in the normal course and there is no reasonable prospect for it to do so without Federal assistance; or "(ii) the bank has incurred or is likely to incur losses that will deplete all or substantially all of its capital and there is no reasonable prospect for replen ishment of the bank's capital without Federal assistance; or “(iii) other grounds exist or are likely to exist under applicable State law for closing the bank. HR 4701 H 16 r 17 18 19 20 21 paragraph (2). An application submitt graph (2)(A) or (B) must describe effort bank or bank holding company to satis ment and the reasons for the rejection c submitted. "(B) Before approving an application pu 22 graph (2) involving a bank in danger of closing 23 banks, the Board shall consult the State bar 24 the State or States in which the bank or ba |