In 2008, the Corps and the U.S. Environmental Protection Agency (EPA) issued a final rule governing compensatory mitigation for losses of aquatic resources (73 FR 19593). The regulation prescribes a review and approval process for the establishment and management of mitigation banks and in-lieu fee programs. The regulation also includes time frames for certain steps in the mitigation bank and in-lieu fee program review and approval process. The review and approval process for mitigation banks and in-lieu fee programs includes an opportunity for public and agency review and comment, as well as a second review by an interagency review team. The interagency review team consists of Federal, Tribal, State, and local agencies that review documentation and provide the Corps advice on the establishment and management of mitigation banks and in-lieu fee programs. The Corps is reviewing the review and approval process and the interagency review team process to determine whether there may be ways to enhance the efficiency of the mitigation bank and in-lieu fee program approval time frames by generating savings to the public through shorter review times for proposed mitigation banks, in-lieu fee programs, instrument modifications, and credit release requests while also promoting conservation and wetland mitigation projects. The Corps will also consider whether there are opportunities for efficiency and clarity improvement from relying on other types of credit metrics for stream compensatory mitigation projects rather than linear metrics.