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 a final rule to expand the examination frequency cycle for certain financial institutions. The rule is effective April 2, 1998. Implementation of this final rule expands the eligibility for the 18-month examination cycle for "1" and "2" rated, well-managed banks from the current asset size limit of $100 million to a new limit of $250 million. The ruling implements 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 and joint final rule (33 KB PDF)

1998 Banking and consumer regulatory policy