15 USC § 9050 - Temporary relief for community banks

---
identifier: "/us/usc/t15/s9050"
source: "usc"
legal_status: "official_prima_facie"
title: "15 USC § 9050 - Temporary relief for community banks"
title_number: 15
title_name: "COMMERCE AND TRADE"
section_number: "9050"
section_name: "Temporary relief for community banks"
chapter_number: 116
chapter_name: "CORONAVIRUS ECONOMIC STABILIZATION (CARES ACT)"
subchapter_number: "III"
subchapter_name: "ECONOMIC STABILIZATION AND ASSISTANCE TO SEVERELY DISTRESSED SECTORS OF THE UNITED STATES ECONOMY"
part_number: "A"
part_name: "Coronavirus Economic Stabilization"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Pub. L. 116–136, div. A, title IV, § 4012, Mar. 27, 2020, 134 Stat. 479.)"
---


# § 9050. Temporary relief for community banks

**(a)** **Definitions** In this section—

**(1)** the term “appropriate Federal banking agency” has the meaning given the term in section 2 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (12 U.S.C. 5365 note); and

**(2)** the terms “Community Bank Leverage Ratio” and “qualifying community bank” have the meanings given the terms in section 201(a) of the Economic Growth, Regulatory Relief, and Consumer Protection Act (12 U.S.C. 5371 note).

**(b)** **Interim rule**

**(1)** **In general** Notwithstanding any other provision of law or regulation, the appropriate Federal banking agencies shall issue an interim final rule that provides that, for the purposes of section 201 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (12 U.S.C. 5371 note)—

**(A)** the Community Bank Leverage Ratio shall be 8 percent; and

**(B)** a qualifying community bank that falls below the Community Bank Leverage Ratio established under subparagraph (A) shall have a reasonable grace period to satisfy the Community Bank Leverage Ratio.

**(2)** **Effective period** The interim rule issued under paragraph (1) shall be effective during the period beginning on the date on which the appropriate Federal banking agencies issue the rule and ending on the sooner of—

**(A)** the termination date of the national emergency concerning the novel coronavirus disease (COVID–19) outbreak declared by the President on March 13, 2020 under the National Emergencies Act (50 U.S.C. 1601 et seq.); or

**(B)** December 31, 2020.

**(c)** **Grace period** 12 U.S.C. 5371

During a grace period described in subsection (b)(1)(B), a qualifying community bank to which the grace period applies may continue to be treated as a qualifying community bank and shall be presumed to satisfy the capital and leverage requirements described in section 201(c) of the Economic Growth, Regulatory Relief, and Consumer Protection Act ( note).

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**Source Credit**: (Pub. L. 116–136, div. A, title IV, § 4012, Mar. 27, 2020, 134 Stat. 479.)

## Editorial Notes

### References in Text

Section 2 of the Economic Growth, Regulatory Relief, and Consumer Protection Act, referred to in subsec. (a)(1), is , , , which is set out as a note under , Banks and Banking.

Section 201 of the Economic Growth, Regulatory Relief, and Consumer Protection Act, referred to in subsecs. (a)(2), (b)(1), and (c), is , , , which is set out as a note under , Banks and Banking.

The National Emergencies Act, referred to in subsec. (b)(2)(A), is , , , which is classified principally to chapter 34 (§ 1601 et seq.) of Title 50, War and National Defense. For complete classification of this Act to the Code, see Short Title note set out under  and Tables.