The FDIC board on Thursday approved a joint interim final rule that raised the asset size of banks eligible for 18-month exam cycles to $1 billion. The previous threshold for 1-rated banks was $500 million.

According to a statement from FDIC Chairman Martin J. Gruenberg, recent statutory changes permitted three federal banking agencies – the Federal Reserve, the OCC and the FDIC – to expand the availability of longer exam cycles. The statute also authorized the agencies to extend the change to 2-rated institutions that have assets between $200 million and $1 billion and that meet other qualifying criteria, if the agencies determine that the higher threshold would be consistent with safety and soundness.

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