Joint Release
Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
Office of Thrift Supervision
For immediate release September 21, 2007
Agencies Issue Final Rules On Expanded Examination
Cycle for Certain Institutions
The federal bank and thrift agencies issued final rules on Friday expanding the range of
small institutions eligible for an extended 18-month on-site examination cycle. The final
rules allow well-capitalized and well-managed banks and savings associations with up
to $500 million in total assets and a composite CAMELS rating of 1 or 2 to qualify for an
18-month (rather than a 12-month) on-site examination cycle.
Until recently, only institutions with less than $250 million in total assets could qualify for
an extended 18-month on-site examination cycle. The final rules also make parallel
changes to the agencies’ regulations governing the on-site examination cycle for U.S.
branches and agencies of foreign banks consistent with the International Banking Act of
1978.
The final rules, which are identical to the proposed interim rules the agencies issued for
public comment in April, implement section 605 of the Financial Services Regulatory
Relief Act of 2006 and related provisions from the International Banking Act, both of
which are already effective.
The final rules, issued by the Board of Governors of the Federal Reserve System, the
Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency,
and the Office of Thrift Supervision, are attached. The final rules are effective upon
publication in the Federal Register, which is expected shortly.
# # #
Attachment:
Expanded Examination Cycle for Certain Small Insured Depository Institutions and U.S.
Branches and Agencies of Foreign Banks
Media Contacts:
Federal Reserve Deborah Lagomarsino 202-452-2955
FDIC David Barr 202-898-6992
OCC Kevin Mukri 202-874-5770
OTS William Ruberry 202-906-6677
FDIC-PR-79-2007
Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
Office of Thrift Supervision
For immediate release September 21, 2007
Agencies Issue Final Rules On Expanded Examination
Cycle for Certain Institutions
The federal bank and thrift agencies issued final rules on Friday expanding the range of
small institutions eligible for an extended 18-month on-site examination cycle. The final
rules allow well-capitalized and well-managed banks and savings associations with up
to $500 million in total assets and a composite CAMELS rating of 1 or 2 to qualify for an
18-month (rather than a 12-month) on-site examination cycle.
Until recently, only institutions with less than $250 million in total assets could qualify for
an extended 18-month on-site examination cycle. The final rules also make parallel
changes to the agencies’ regulations governing the on-site examination cycle for U.S.
branches and agencies of foreign banks consistent with the International Banking Act of
1978.
The final rules, which are identical to the proposed interim rules the agencies issued for
public comment in April, implement section 605 of the Financial Services Regulatory
Relief Act of 2006 and related provisions from the International Banking Act, both of
which are already effective.
The final rules, issued by the Board of Governors of the Federal Reserve System, the
Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency,
and the Office of Thrift Supervision, are attached. The final rules are effective upon
publication in the Federal Register, which is expected shortly.
# # #
Attachment:
Expanded Examination Cycle for Certain Small Insured Depository Institutions and U.S.
Branches and Agencies of Foreign Banks
Media Contacts:
Federal Reserve Deborah Lagomarsino 202-452-2955
FDIC David Barr 202-898-6992
OCC Kevin Mukri 202-874-5770
OTS William Ruberry 202-906-6677
FDIC-PR-79-2007