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Financial Institution Letter
Reducing Regulatory Burden Recommendations Sought for Reducing Regulatory Burden in Money Laundering, Safety and Soundness, and Securities Rules


Summary: The federal banking and thrift regulatory agencies are asking for recommendations on how to reduce the regulatory burden in 28 rules. Those rules relate to Money Laundering, Safety and Soundness and/or Securities. Comments are due by May 4, 2005.

Highlights:
  • The federal banking and thrift regulatory agencies are asking for burden reducing recommendations on 28 regulations concerning Money Laundering, Safety and Soundness, or Securities.
  • Comments are due by May 4, 2005.
  • This request is part of the agencies' effort to identify and eliminate regulatory requirements that are outdated, unnecessary or unduly burdensome pursuant to the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA).
  • Comments may be submitted directly to the agencies on the EGRPRA Web site at www.EGRPRA.gov.
  • For more information about this request, please refer to the attached Federal Register notice. For more information about the EGRPRA project in general, including comments we have already received, visit the EGRPRA Web site at www.EGRPRA.gov.

Distribution:
FDIC-Supervised Banks (Commercial and Savings)

Suggested Routing:
Chief Executive Officer
Compliance Officer

Note:
FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/financial-institution-letters/2005/index.html .

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html .

Paper copies of FDIC FILs may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342 or (703) 562-2200).



Additional Related Topics:

  • Bank Secrecy Act Compliance
  • Safety and Soundness Standards
  • Securities Rules and Recordkeeping
FIL-8-2005
Attachments
Last Updated: February 3, 2005