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News Release 1997-5
January 21, 1997
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Office of the Comptroller of the Currency
Federal Deposit Insurance Corporation
Federal Reserve Board
Office of Thrift Supervision
WASHINGTON, D.C. — Federal banking regulators today approved rules that extend the eligibility for 18-month examination cycles to banks and thrifts with up to $250 million in assets and an examination rating of at least CAMELS 2, with one being the highest on a five-step scale. For a bank to be eligible, it also must be well capitalized, well managed, and not subject to an enforcement proceeding.
The new regulations by the Federal Reserve Board, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency and Office of Thrift Supervision implement the Economic Growth and Regulatory Paperwork Reduction Act enacted last September. Up to now, only CAMELS 1-rated banks and thrifts with up to $250 in assets and CAMELS 2-rated banks and thrifts with up to $100 million in assets were eligible for the 18-month exam cycle.
Although it is being published as an interim rule with a 60-day comment period, the rule is effective upon publication in the Federal Register.