United States:
Federal Register: Regulators Expand Eligibility for Extended On-Site Examination Cycle - December 28, 2018
08 January 2019
Cadwalader, Wickersham & Taft LLP
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The Office of the Comptroller of the Currency, the Federal
Reserve Board and the FDIC (collectively, the "agencies")
issued final rules to increase asset threshold
from $1 billion to $3 billion for insured depository institutions
("IDIs") to be eligible for an extended 18-month on-site
examination cycle. The final rules were published in the Federal
Register. The rules become effective on January 28, 2019.
As
previously covered, the final rules have been in place as
interim rules since August 29, 2018. The rules were adopted to
comply with the
Economic Growth, Regulatory Relief, and Consumer Protection Act of
2018.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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