; and (B) include in such notification the specific reasons for such determination and steps that the banking organization can take to meet such requirements. (e) Treatment of certain new banking organizations In the case of a banking organization that is a newly-chartered insured depository institution or a banking organization that becomes a banking organization because it controls a newly-chartered insured depository institution, such banking organization may be treated as a qualifying banking organization immediately upon becoming a banking organization, if— (1) an election to be treated as a qualifying banking organization was included in the application filed with the appropriate Federal banking agency in connection with becoming a banking organization; and (2) as of the date the banking organization becomes a banking organization, the banking organization’s tangible equity divided by the banking organization’s leverage exposure, expressed as a percentage, is at least 10 percent. (f) Failure to maintain quarterly leverage ratio and loss of election (1) Effect of failure to maintain quarterly leverage ratio (A) In general If, with respect to the most recently completed calendar quarter, the appropriate Federal banking agency determines that a qualifying banking organization’s quarterly leverage ratio is below 10 percent— (i) the appropriate Federal banking agency shall notify the qualifying banking organization and any applicable State bank supervisor that regulates the banking organization of such determination; (ii) the appropriate Federal banking agency may prohibit the banking organization from making a capital distribution