WASHINGTON — Federal bank and thrift regulators recentlyrequested public comment on proposed interim rules expanding therange of small institutions eligible for an extended 18-monthon-site examination cycle.
|The proposed interim rules would allow well-capitalized andwell-managed banks and savings associations with up to $500 millionin total assets and a composite CAMEL rating of 1 or 2 to qualifyfor an 18-month examination cycle, rather than the usual 12 months.They would also revise these provisions for U.S. branches andagencies of foreign banks.
|The proposed interim rules are effective upon publication in theFederal Register, which is expected shortly, and implement section605 of the Financial Services Regulatory Relief Act of 2006 andrelated provisions from the International Banking Act.
|The Federal Reserve Board, FDIC, the Office of the Comptrollerof the Currency, and the Office of Thrift Supervision are seekingcomments for 30 days.
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