Federal Reserve Board

DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency

12 CFR Part 4

[Docket No. 97-02]
RIN 1557-AB56

FEDERAL RESERVE SYSTEM

12 CFR Part 208

[Regulations H; Docket No. R-0957]

FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Part 337

RIN 3064-AB90

DEPARTMENT OF THE TREASURY
Office of Thrift Supervision

12 CFR Part 563

[Docket No. 98-12]
RIN 1550-AB02

Expanded Examination Cycle For Certain Small Insured Institutions

AGENCIES:: Board of Governors of the Federal Reserve System, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision.

ACTION: Final rule.

SUMMARY: The Board of Governors of the Federal Reserve System (Board), the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Office of Thrift Supervision (OTS) (collectively, the Agencies) are adopting as a final rule their joint interim rule implementing section 306 of the Riegle Community Development and Regulatory Improvement Act of 1994 (CDRI) and section 2221 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA). Together, section 306 of CDRI and section 2221 of EGRPRA authorize the Agencies to increase the asset size of certain financial institutions that may be examined once in every 18-month period, rather than once in every 12-month period, from $100 million to a revised limit of $250 million. This final rule makes certain institutions that have $250 million or less in assets eligible for the 18-month examination schedule.

EFFECTIVE DATE: The rule is effective April 2, 1998.

FOR FURTHER INFORMATION CONTACT:

OCC: Lawrence W. Morris, National Bank Examiner, Examination Process (202) 874-4915; Ronald Schneck, Director, Special Supervision, (202) 874-4450; or Mark Tenhundfeld, Assistant Director, Legislative and Regulatory Activities, (202) 874-5090.

Board: Molly Wassom, Deputy Associate Director, (202) 452-2305, or William H. Tiernay, Senior Financial Analyst, (202) 872-7579, Division of Banking Supervision and Regulation. For the hearing impaired only, Telecommunication Device for the Deaf (TDD), Diane Jenkins (202) 452-3544.

FDIC: Mark A. Mellon, Counsel, Regulation and Legislation section (202) 898-3854, Legal Division, or Robert W. Walsh, Manager, Planning and Program Development section (202) 898-6911, Division of Supervision, Federal Deposit Insurance Corporation, 550 17th Street, N.W., Washington, D.C. 20429.

OTS: Scott M. Albinson, Special Assistant to the Executive Director, Supervision, (202) 906-7984; or Ellen J. Sazzman, Counsel (Banking and Finance), Regulations and Legislation Division, Office of the Chief Counsel, (202) 906-7133.

Summary and joint final rule (33 KB PDF)

1998 Banking and consumer regulatory policy


Home | News and events
Accessibility
Last update: March 31, 1998, 4:00 PM