For immediate release

The Federal Reserve Board, along with the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision, today issued an interim rule and requested comment on a proposal to expand the examination frequency cycle for certain financial institutions. The interim rule is effective January 30, 1997. Comment is requested by March 31, 1997. Implementation of this ruling will expand the eligibility for the 18-month examination cycle for "2" rated, well managed banks from the current asset size limit of $100 million to a new limit of $250 million. The ruling will implement section 306 of the Riegle Community Development and Regulatory Improvement Act of 1994, and section 2221 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996. The interagency notice is attached.

Summary only | Summary, interim rule and proposal (35 KB PDF)

1997 Banking and consumer regulatory policy