Business, Commercial, and Community Development Secondary Market Development Act

[AI summary unavailable — showing source text] Business, Commercial, and Community Development Secondary Market Development Act - Prescribes guidelines under which any person or governmental unit may be certified by the Secretary of the Treasury as a secondary market facilitating organization (organization) which raises capital for business, commercial, and community development by: (1) the placement of debt and equity securities; (2) the guarantee of timely payment of principal or interest on such securities; and (3) the sale or purchase of business, commercial, and community development debt and equity assets. Provides for: (1) Federal examination and oversight of such organizations; (2) mandatory submission to the Secretary of annual organization status reports; and (3) assessments and fees for examination and administrative costs. Declares that the obligations of the organizations are not backed by either the full faith and credit of the United States or any Federal guarantees. Directs the Financial Institutions Examination Council to establish uniform reporting standards for such debt and equity investments for bank examination purposes.…