View Rule

View EO 12866 Meetings Printer-Friendly Version     Download RIN Data in XML

FDIC RIN: 3064-AE42 Publication ID: Fall 2016 
Title: Expanded Examination Cycle for Certain Small Insured Depository Institutions and U.S. Branches and Agencies of Foreign Banks 
Abstract:

The Office of the Comptroller of the Currency, the Federal Reserve Board, and Federal Deposit Insurance Corporation (collectively, the Agencies) jointly issued and requested public comment on interim final rules to implement section 83001 of the Fixing America’s Surface Transportation Act (FAST Act), which was enacted on December 4, 2015. Section 83001 of the FAST Act permits the Agencies to examine qualifying insured depository institutions with less than $1 billion in total assets no less than once during each 18-month period. Prior to enactment of the FAST Act, only qualifying insured depository institutions with less than $500 million in total assets were eligible for an 18-month on-site examination cycle. The interim final rules generally would allow well capitalized and well managed institutions with less than $1 billion in total assets to benefit from the extended 18-month examination schedule. In addition, the interim final rules make parallel changes to the Agencies’ regulations governing the onsite examination cycle for U.S. branches and agencies of foreign banks, consistent with the International Banking Act of 1978. Finally, the FDIC is integrating its regulations regarding the frequency of safety and soundness examinations for State nonmember banks and State savings associations.

 

 

 

 

 
Agency: Federal Deposit Insurance Corporation(FDIC)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: uncollected 
CFR Citation: 12 CFR 337    12 CFR 347    12 CFR 390   
Legal Authority: 12 U.S.C. 375a(4)    12 U.S.C. 375b    12 U.S.C. 1463(a)(1)    12 U.S.C. 1816   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Interim Final Rule  02/29/2016  81 FR 10063   
Interim Final Rule Comment Period End  04/29/2016 
Final Rule  11/00/2016 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL: www.fdic.gov/regulations/laws/federal/propose.html   Public Comment URL: www.fdic.gov/regulations/laws/federal/propose.html  
RIN Data Printed in the FR: No 
Related Agencies: Joint: TREAS/OCC, FRS; 
Agency Contact:
Mark A. Mellon
Counsel, Legal Division
Federal Deposit Insurance Corporation
550 17th Street NW,
Washington, DC 20429
Phone:202 898-3884
Email: mmellon@fdic.gov

Rodney D. Ray
Counsel, Legal Division
Federal Deposit Insurance Corporation
550 17th Street NW,
Washington, DC 20429
Phone:202 898-3556
Email: rray@fdic.gov

Suzanne Dawley
Senior Attorney
Federal Deposit Insurance Corporation
550 17th Street NW,
Washington, DC 20429
Phone:202 898-6509
Email: sdawley@fdic.gov