Joint Release
Federal Deposit Insurance Corporation
Federal Reserve Board of Governors
Office of the Comptroller of the Currency
For Immediate Release June 4, 2014
Federal Bank Regulatory Agencies Seek Comment on Interagency Effort to
Reduce Regulatory Burden
The federal bank regulatory agencies today published the first of a series of requests for
comments to identify outdated, unnecessary, or unduly burdensome regulations
imposed on insured depository institutions.
The Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA)
requires the Federal Financial Institutions Examination Council, Office of the
Comptroller of the Currency, Federal Deposit Insurance Corporation, and Board of
Governors of the Federal Reserve System (agencies) to review regulations issued by
the agencies at least every 10 years. It also requires the agencies to categorize the
regulations, publish the regulations in each category for comment, report to Congress
on any significant issues raised by the comments, and identify areas of regulations that
are outdated, unnecessary or unduly burdensome.
The agencies have divided the regulations into 12 categories. At regular intervals over
the next two years, the agencies will publish jointly three additional Federal Register
notices for public comment. Each notice will address at least one category of the
regulations.
The first notice seeks comment on regulations from three categories: Applications and
Reporting; Powers and Activities, and International Operations. The public will have until
September 2, 2014, to review and comment on this first set of categories.
The agencies plan to schedule roundtable discussions with bankers and interested
parties and will publish details about these sessions on the EGRPRA website as they
are finalized.
Related Links:
Federal Register Notice - PDF (PDF Help)
Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) website
Media Contacts:
Federal Reserve Eric Kollig (202) 452-2955
OCC Bryan Hubbard (202) 649-6870
FDIC Greg Hernandez (202) 898-6993
FDIC: PR-43-2014
Federal Deposit Insurance Corporation
Federal Reserve Board of Governors
Office of the Comptroller of the Currency
For Immediate Release June 4, 2014
Federal Bank Regulatory Agencies Seek Comment on Interagency Effort to
Reduce Regulatory Burden
The federal bank regulatory agencies today published the first of a series of requests for
comments to identify outdated, unnecessary, or unduly burdensome regulations
imposed on insured depository institutions.
The Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA)
requires the Federal Financial Institutions Examination Council, Office of the
Comptroller of the Currency, Federal Deposit Insurance Corporation, and Board of
Governors of the Federal Reserve System (agencies) to review regulations issued by
the agencies at least every 10 years. It also requires the agencies to categorize the
regulations, publish the regulations in each category for comment, report to Congress
on any significant issues raised by the comments, and identify areas of regulations that
are outdated, unnecessary or unduly burdensome.
The agencies have divided the regulations into 12 categories. At regular intervals over
the next two years, the agencies will publish jointly three additional Federal Register
notices for public comment. Each notice will address at least one category of the
regulations.
The first notice seeks comment on regulations from three categories: Applications and
Reporting; Powers and Activities, and International Operations. The public will have until
September 2, 2014, to review and comment on this first set of categories.
The agencies plan to schedule roundtable discussions with bankers and interested
parties and will publish details about these sessions on the EGRPRA website as they
are finalized.
Related Links:
Federal Register Notice - PDF (PDF Help)
Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) website
Media Contacts:
Federal Reserve Eric Kollig (202) 452-2955
OCC Bryan Hubbard (202) 649-6870
FDIC Greg Hernandez (202) 898-6993
FDIC: PR-43-2014