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The FDIC proposes to rescind and remove from the Code of Federal Regulations 12 CFR part 390, subpart R, entitled Regulatory Reporting Standards. This subpart was included in the regulations that were transferred from the Office of Thrift Supervision (OTS) to the FDIC on July 21, 2011, in connection with the implementation of Title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Part 390, subpart R relates to regulatory reporting requirements, regulatory reports and audits of State savings associations. The FDIC has determined that the most important provisions of Subpart R are redundant, duplicate or are otherwise unnecessary in light of existing statutes and other FDIC regulations that specifically govern these matters and apply to insured depository institutions, including State savings associations.   The FDIC has also determined that, in the areas where there in not complete overlap between Subpart R and these other statutes and FDIC regulations, the FDIC’s regulatory, supervisory and enforcement authority under the Federal Deposit Insurance Act and other applicable law is sufficient as a practical and legal matter to equip the agency to address any problems that might arise with State savings associations in these areas. Rescission and removal of subpart R would streamline the FDIC’s regulations as well as emphasize the parity between State savings associations and state nonmember banks by having the regulatory reporting requirements, regulatory reports, and audits of both classes of institutions governed by the same single set of statutes and rules as much as possible.