FDIC Law, Regulations, Related Acts
REPORT BULLETIN NO. 2
Washington, D.C. 20429
* Expanded Examination Cycle for Certain Small Insured Depository Institutions and U.S. Branches and Agencies of Foreign Banks. The OCC, Board, and FDIC (collectively, the agencies) jointly issued and requested public comment on interim final rules to implement section 83001 of the Fixing America's Surface Transportation Act (FAST Act), which was enacted on December 4, 2015. Section 83001 of the FAST Act permits the agencies to examine qualifying insured depository institutions with less than $1 billion in total assets no less than once during each 18-month period. Prior to enactment of the FAST Act, only qualifying insured depository institutions with less than $500 million in total assets were eligible for an 18-month on-site examination cycle. The interim final rules generally would allow well capitalized and well managed institutions with less than $1 billion in total assets to benefit from the extended 18-month examination schedule. In addition, the interim final rules make parallel changes to the agencies' regulations governing the onsite examination cycle for U.S. branches and agencies of foreign banks, consistent with the International Banking Act of 1978. Finally, the FDIC is integrating its regulations regarding the frequency of safety and soundness examinations for State nonmember banks and State savings associations. 81 Fed. Reg.
See pages 2637–2638, 2643, 2845–2846, 2851–2856, and 7628.17–7628.20
* Loans in Areas Having Special Flood Hazards. This document contains a correction to the final regulations which were published in the Federal Register of Tuesday, July 21, 2015 (80 FR 43216). The regulations related to Loans in Areas Having Special Flood Hazards. 81 Fed. Reg. 6170.
See pages 2663–2664