CHAIRMAN HELFER SEEKS BROAD PUBLIC COMMENT ON ALL RULES UP FOR REVIEW
FOR IMMEDIATE RELEASE
FDIC Chairman Ricki Helfer said today the agency will seek the
broadest possible public comment as the agency carries out a review
of all its regulations and policies. The review is part of the
Riegle Community Development and Regulatory Improvement Act of 1994
"The FDIC is reviewing 41 regulations and 77 policy statements
to eliminate or reduce requirements that are not essential to the
agency doing its job," Chairman Helfer said.
She added: "We look forward to working with the other banking
agencies to eliminate differences among regulations and guidelines
where those regulations and guidelines implement the statutory
requirements that we all must apply or the supervisory policies that
we have in common." As mandated by CDRI, the FDIC will submit a
report on its progress to Congress in September 1996.
The request for widespread participation by the public in the
FDIC's review of each of its regulations and policies is described in
detail in a notice that will be sent to the Federal Register shortly.
Congress created the Federal Deposit Insurance Corporation in 1933 to
restore public confidence in the nation's banking system. The FDIC
insures deposits at the nation's 12,000 banks and savings associations
and it promotes the safety and soundness of these institutions by
identifying, monitoring and addressing risks to which they are exposed.