A bill to amend the Economic Growth, Regulatory Relief, and Consumer Protection Act to require the appropriate Federal banking agencies to develop a Community Bank Leverage Ratio that is between 8 percent and 8.5 percent for calendar years 2022, 2023, and 2024, and for other purposes.

This bill requires banking agencies to set the community bank leverage ratio between 8% and 8.5% for calendar years 2022, 2023, and 2024 for community banks seeking to satisfy simplified capital adequacy requirements. Currently, banking agencies are statutorily required to set the rate between 8% and 10% through rulemaking. Under current regulations, the rate will increase from 8.5% to 9% on January 1, 2022.