This Act may be cited as the Merchant Banking Modernization Act.

Section 4(k)(7)(A) of the Bank Holding Company Act of 1956 (12 U.S.C. 1843(k)(7)(A)U.S. Code — Title 12, Section 1843(k)(7)(A)View official source on GovInfo) is amended by inserting Under such regulations, the period of time generally permitted for holding merchant banking investments shall not be less than 15 years. For any merchant banking investment held on the date of enactment of the Merchant Banking Modernization Act, the holding period of time permitted shall not be less than 15 years from the initial date of the investment. after the period at the end.