The proposal by the Federal Reserve Board, the FDIC and the Office of the Comptroller of the Currency to reduce regulatory reporting requirements for eligible small depository institutions was published in the Federal Register. Comments on the proposal must be submitted by January 18, 2019.
As previously covered, the rule proposals would implement Section 205 ("Financial Reporting Requirements for Small Banks") of the Economic Growth, Regulatory Relief and Consumer Protection Act.
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.