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.