; and (B) apply the requirements of this section to the regulations described in subparagraph (A). (2) Revision Any regulation revised under paragraph (1) shall be revised not later than 3 years after the date of enactment of this Act. 3. Short-form call reports for all banks eligible for the community bank leverage ratio The appropriate Federal banking agencies, as defined in section 3 of the Federal Deposit Insurance Act ( 12 U.S.C. 1813 ), shall promulgate regulations establishing a reduced reporting requirement for all banks eligible for the Community Bank Leverage Ratio, as defined in section 201(a) of the Economic Growth, Regulatory Relief, and Consumer Protection Act ( 12 U.S.C. 5371 note), when making the first and third report of condition of a year as required by section 7(a) of the Federal Deposit Insurance Act ( 12 U.S.C. 1817(a) ). 4. Report to Congress on modernization of supervision Not later than 18 months after the date of enactment of this Act, the appropriate Federal banking agencies, as defined in section 3 of the Federal Deposit Insurance Act ( 12 U.S.C. 1813 ), in consultation with State bank supervisors, shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report on the modernization of bank supervision, including the following factors: (1) Changing bank business models. (2) Examiner workforce and training. (3) The structure of supervisory activities within banking agencies. (4) Improving bank-supervisor communication and collaboration. (5) The use of supervisory technology. (6) Supervisory factors uniquely applicable to community banks. (7) Changes in statutes necessary to achieve more effective supervision.