Joint Release
Federal Deposit Insurance Corporation
Federal Reserve Board of Governors
Office of the Comptroller of the Currency
For immediate release February 20, 2015
Federal Bank Regulatory Agencies Seek Comment on
Interagency Effort to Reduce Regulatory Burden
The federal bank regulatory agencies requested comment on a second 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categories as part of their review to identify outdated or unnecessary regulations applied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 in June 2014 for three categories. The second notice was published
February 13 seeking comment on regulations in three additional categories: banking
operations; capital; and the Community Reinvestment Act. Comments will be accepted
until May 14, 2015. Over the next year, the agencies will jointly publish two
additional Federal Register notices. Although each notice seeks comment on three
specific categories, comments on any of the 12 categories will be accepted by the
agencies.
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 Web site.
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 LaJuan Williams-Young (202) 898-3876
FDIC: PR-19-2015
Federal Deposit Insurance Corporation
Federal Reserve Board of Governors
Office of the Comptroller of the Currency
For immediate release February 20, 2015
Federal Bank Regulatory Agencies Seek Comment on
Interagency Effort to Reduce Regulatory Burden
The federal bank regulatory agencies requested comment on a second 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categories as part of their review to identify outdated or unnecessary regulations applied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 in June 2014 for three categories. The second notice was published
February 13 seeking comment on regulations in three additional categories: banking
operations; capital; and the Community Reinvestment Act. Comments will be accepted
until May 14, 2015. Over the next year, the agencies will jointly publish two
additional Federal Register notices. Although each notice seeks comment on three
specific categories, comments on any of the 12 categories will be accepted by the
agencies.
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 Web site.
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 LaJuan Williams-Young (202) 898-3876
FDIC: PR-19-2015