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NR 2016-5
Contact: William Grassano
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Comptroller of the Currency Discusses Expanding 18-Month Exam Cycle for More Community Banks and Savings Associations

WASHINGTON — Comptroller of Currency Thomas J. Curry today discussed increasing the number of small community banks and savings associations eligible for an 18-month examination cycle. His remarks came during the Federal Deposit Insurance Corporation’s meeting of its board of directors, which approved an interim final rule to allow well-managed community banks and thrifts with less than $1 billion in assets to qualify for the 18-month exam cycle. The previous threshold was $500 million. The interim final rule follows authority granted by Congress in December 2015. In his remarks, the Comptroller also announced that he had approved an identical interim final rule for institutions supervised by the Office of the Comptroller of the Currency.

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