; and (2) notify the financial institution of the decision and, if the agency denies the request— (A) provide the financial institution with the reason for the denial; and (B) suggest changes to the request that, if adopted, would allow the agency to approve the request. (c) Result of failure To act If an appropriate Federal banking agency fails to approve or deny a request within the 30-day period required under subsection (b), the request shall be deemed to be approved. 6. Rural community bank leverage ratio (a) In general During the 3-year period beginning on the date on which the deposit insurance that a rural community bank has obtained from the Federal Deposit Insurance Corporation becomes effective, the Community Bank Leverage Ratio for the rural community bank shall be 8 percent. (b) Phase-In authority The Federal banking agencies shall issue rules to phase-in the Community Bank Leverage Ratio described in subsection (a) with respect to a rural community bank by setting lower Community Bank Leverage Ratio percentages during the first 2 years of the 3-year period described in subsection (a). 7. Agricultural loan authority for Federal savings associations Section 5(c) of the Home Owners’ Loan Act ( 12 U.S.C. 1464(c) ) is amended— (1) in paragraph (1), by adding at the end the following: (V) Agricultural loans Secured or unsecured loans for agricultural purposes. ; and (2) in paragraph (2)(A), by striking business, or agricultural and inserting or business . 8. Study on de novo financial institutions (a) Study The appropriate Federal banking agencies shall, jointly, carry out a study on— (1) the principal causes for the low number of de novo financial institutions in the 10-year period ending on the date of enactment of this Act