; or (II) avoid the serious adverse effects on economic conditions or financial stability that would occur absent exercise of the authority in section 13(c)(4)(G), if a systemic risk determination has been made under such section with respect to the insured depository institution or institutions that are the subject of the application. . (b) Failed bank acquisitions Section 3(d)(5) of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1842(d)(5) ) is amended— (1) by redesignating subparagraphs (A) and (B) as clauses (i) and (ii), respectively, and adjusting the margins accordingly; (2) in the matter preceding clause (i), as so redesignated, by striking The Board may approve and inserting the following: (A) Except as provided in subparagraph (B), the Board may approve ; and (3) by inserting at the end the following: (B) Notwithstanding subparagraph (A), the Board may approve an application that would otherwise be subject to the prohibition in subparagraph (A) or (B) of paragraph (2) if— (i) at the time the Board proposes to approve the application, there is no application or proposed application (other than an application that also would be subject to the prohibitions in subparagraph (A) or (B) of paragraph (2)) to acquire, directly or indirectly, the 1 or more banks in default or in danger of default, or the acquisition with respect to which assistance is provided under section 13(c) of the Federal Deposit Insurance Act ( 12 U.S.C. 1823(c) ), pending before the Board that would meet all applicable standards for approval under this section; (ii) the Federal Deposit Insurance Corporation would provide assistance under section 13 of the Federal Deposit Insurance Act ( 12 U.S.C. 1823 ) with respect to the acquisition that is the subject of the application to the Board