Home > Regulation & Examinations > Laws & Regulations > FDIC Federal Register Citations




FDIC Federal Register Citations

[Federal Register: August 28, 1998 (Volume 63, Number 167)]
[Rules and Regulations]
[Page 46117-46122]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr28au98-29]
[[Page 46117]]
_______________________________________________________________________
Part V
Department of the Treasury
Office of the Comptroller of the Currency
12 CFR Part 4
Federal Reserve System
12 CFR Part 211
Federal Deposit Insurance Corporation
12 CFR Part 347
_______________________________________________________________________
Extended Examination Cycle for U.S. Branches and Agencies of Foreign
Banks; Final Rule
[[Page 46118]]
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
12 CFR Part 4
[Docket No. 98-11]
RIN 1557-AB60
FEDERAL RESERVE SYSTEM
12 CFR Part 211
[Regulation K; Docket No. R-1012]
FEDERAL DEPOSIT INSURANCE CORPORATION
12 CFR Part 347
RIN 3064-AC15
Extended Examination Cycle for U.S. Branches and Agencies of
Foreign Banks
AGENCIES: Office of the Comptroller of the Currency, Treasury; Board of
Governors of the Federal Reserve System; and the Federal Deposit
Insurance Corporation.
ACTION: Interim rule with request for comment.
-----------------------------------------------------------------------
SUMMARY: The Office of the Comptroller of the Currency (OCC), the Board
of Governors of the Federal Reserve System (Board), and the Federal
Deposit Insurance Corporation (FDIC) (collectively, the Agencies) are
issuing this joint interim rule with request for comment to implement
the provisions related to an extended examination cycle for U.S.
branches and agencies of foreign banks set out in section 2214 of the
Economic Growth and Regulatory Paperwork Reduction Act of 1996
(EGRPRA). United States branches and agencies of foreign banks with
total assets of $250 million or less are eligible to be considered for
the 18-month examination cycle if they meet the qualifying criteria set
out in this interim rule. The interim rule reduces the regulatory
burden associated with more frequent on-site examinations for certain
small U.S. branches and agencies of foreign banks.

Last Updated 08/28/1998 regs@fdic.gov