Joint Release
Federal Deposit Insurance Corporation
Federal Reserve Board of Governors
Office of the Comptroller of the Currency
For Immediate Release May 29, 2015
Federal Bank Regulatory Agencies Seek Further Comment on Interagency Effort
to Reduce Regulatory Burden
The federal bank regulatory agencies on Friday approved a notice requesting comment
on a third set of regulatory categories as part of their review to identify outdated or
unnecessary regulations applied to 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 to review their regulations at least every 10
years. The agencies also are required to categorize and publish the regulations for
comment, and submit a report to Congress that summarizes any significant issues
raised by the comments and the relative merits of such issues.
The agencies have divided their regulations into 12 categories and requested
comments for six sets of categories. The third notice, published today, seeks comment
on regulations in three additional categories: consumer protection; directors, officers,
and employees; and money laundering. Comments will be accepted within 90 days after
publication in the Federal Register.
The agencies will jointly publish an additional Federal Register notice, with the
remaining three categories. Although each notice seeks comment on three specific
categories, comments on any of the 12 categories will be accepted by the agencies.
Additionally, as previously announced by the agencies, the agencies have expanded
the scope of the EGRPRA review to cover newly issued regulations. Comments will be
accepted on all rules that have been finalized before the publication of the last EGRPRA
notice which is expected by year-end.
The agencies also are holding a series of outreach meetings with financial institutions
and interested parties to gather additional views. Information about these meetings is
available on the EGRPRA website.
Related Links:
Federal Register Notice - PDF (PDF Help)
Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) website
Federal Deposit Insurance Corporation
Federal Reserve Board of Governors
Office of the Comptroller of the Currency
For Immediate Release May 29, 2015
Federal Bank Regulatory Agencies Seek Further Comment on Interagency Effort
to Reduce Regulatory Burden
The federal bank regulatory agencies on Friday approved a notice requesting comment
on a third set of regulatory categories as part of their review to identify outdated or
unnecessary regulations applied to 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 to review their regulations at least every 10
years. The agencies also are required to categorize and publish the regulations for
comment, and submit a report to Congress that summarizes any significant issues
raised by the comments and the relative merits of such issues.
The agencies have divided their regulations into 12 categories and requested
comments for six sets of categories. The third notice, published today, seeks comment
on regulations in three additional categories: consumer protection; directors, officers,
and employees; and money laundering. Comments will be accepted within 90 days after
publication in the Federal Register.
The agencies will jointly publish an additional Federal Register notice, with the
remaining three categories. Although each notice seeks comment on three specific
categories, comments on any of the 12 categories will be accepted by the agencies.
Additionally, as previously announced by the agencies, the agencies have expanded
the scope of the EGRPRA review to cover newly issued regulations. Comments will be
accepted on all rules that have been finalized before the publication of the last EGRPRA
notice which is expected by year-end.
The agencies also are holding a series of outreach meetings with financial institutions
and interested parties to gather additional views. Information about these meetings is
available on the EGRPRA website.
Related Links:
Federal Register Notice - PDF (PDF Help)
Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) website
Media Contacts:
Federal Reserve Darren Gersh (202) 452-2955
OCC Bryan Hubbard (202) 649-6747
FDIC LaJuan Williams-Young (202) 898-3876
FDIC: PR-44-2015
Federal Reserve Darren Gersh (202) 452-2955
OCC Bryan Hubbard (202) 649-6747
FDIC LaJuan Williams-Young (202) 898-3876
FDIC: PR-44-2015