; exchange The terms equity security and exchange have the meanings given the terms in section 3(a) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a) ). (7) National securities exchange The term national securities exchange means an exchange that is registered in accordance with section 6 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78f ). (8) Total consolidated assets The term total consolidated assets means, with respect to an entity, the total consolidated assets of that entity, as determined pursuant to the instructions of Form FR Y–9C of the Board. (b) Temporary waiver of regulatory approvals for acquisitions of distressed banks (1) In general Subject to paragraphs (2) and (3), except as provided in paragraph (4), and notwithstanding any requirement or restriction relating to notification, approval, or other matter under section 3 or 4 of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1842 , 1843), section 7(j) or 18(c) of the Federal Deposit Insurance Act ( 12 U.S.C. 1817(j) , 1828(c)), or any other Federal or State law, after written notice to the Board— (A) a distressed insured bank may become a subsidiary of a bank holding company; (B) a bank holding company may acquire direct or indirect ownership or control of any voting shares of any distressed insured bank or any company that controls a distressed insured bank; and (C) a bank holding company may merge or consolidate with a bank holding company that has a subsidiary that is a distressed insured bank. (2) Conditions Paragraph (1) shall apply only if— (A) after the applicable transaction or other action under that paragraph— (i) the applicable covered entity would meet the required capital levels for well capitalized bank holding companies established by the Board