; and (ii) if the qualifying banking organization has an election terminated under subparagraph (B), any such parent depository institution holding company shall also have its election under this section terminated. (2) Immediate loss of election if the quarterly leverage ratio falls below 6 percent (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 6 percent, the banking organization’s election under this section shall be terminated, and the appropriate Federal banking agency shall notify any applicable State bank supervisor that regulates the banking organization of such termination. (B) Effect of subsidiary on parent organization With respect to a qualifying banking organization described under subparagraph (A) that is an insured depository institution, any parent depository institution holding company of the qualifying banking organization shall also have its election under this section terminated. (3) Ability to make future elections If a banking organization has an election under this section terminated, the banking organization may not apply for another election under this section until the banking organization has maintained a quarterly leverage ratio of at least 10 percent for 8 consecutive calendar quarters. 602. Regulatory relief (a) In general A qualifying banking organization shall be exempt from the following: (1) Any Federal law, rule, or regulation addressing capital or liquidity requirements or standards. (2) Any Federal law, rule, or regulation that permits an appropriate Federal banking agency to object to a capital distribution. (3) Any consideration by an appropriate Federal banking agency of the following: (A) Any risk the qualifying banking organization may pose to the stability of the financial system of the United States , under section 5(c)(2) of the Bank Holding Company Act of 1956. (B) The extent to which a proposed acquisition,