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News Release 2018-143
December 21, 2018
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Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
WASHINGTON—The Federal banking agencies today issued final rules that adopt without change the interim final rules issued in August that expanded the number of insured depository institutions and U.S. branches and agencies of foreign banks eligible for an 18-month on-site examination cycle, rather than a 12-month cycle.
As authorized by the Economic Growth, Regulatory Relief, and Consumer Protection Act, the final rules generally allow qualifying insured depository institutions with less than $3 billion in total assets to benefit from an extended 18-month on-site examination cycle.
The final rules also adopt without change the interim final rules’ parallel changes for the on-site examination cycle of U.S. branches and agencies of foreign banks.