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    US Agencies Expand Examination Cycles for Qualifying Small Banks

    December 28, 2018

    US Agencies (FDIC, FED, and OCC) jointly issued final rules that adopt without change the interim final rules issued in August that expanded the number of insured depository institutions and U.S. branches and agencies of foreign banks eligible for an 18-month on-site examination cycle, rather than a 12-month cycle. As authorized by the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRRCP Act), the final rules generally allow qualifying insured depository institutions with less than USD 3 billion in total assets to benefit from an extended 18-month on-site examination cycle. The final rules also adopt without change the interim final rules' parallel changes for the on-site examination cycle of U.S. branches and agencies of foreign banks. These final rules become effective on January 28, 2019.

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    Effective Date: January 28, 2019

    Keywords: Americas, US, Banking, Examination Cycles, EGRRCP Act, Small Banks, Foreign Banks, US Agencies

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