Joint Press Release: Federal Bank Regulatory Agencies Seek Further Comment on Interagency Effort to Reduce Regulatory Burden
JOINT PRESS RELEASE | DECEMBER 3, 2024
Federal Deposit
Insurance CorporationFederal Reserve BoardOffice of the Comptroller of
the Currency__________________________________________________________
______
Federal Bank Regulatory Agencies Seek Further Comment
on Interagency Effort to Reduce Regulatory Burden
The federal
bank regulatory agencies today announced their third notice requesting
comment to reduce regulatory burden. The Economic Growth and
Regulatory Paperwork Reduction Act of 1996 requires the Federal
Financial Institutions Examination Council and federal bank regulatory
agencies to review their regulations at least once every 10 years to
identify outdated or otherwise unnecessary regulatory requirements for
their supervised institutions.
To facilitate this review, the
agencies divided their regulations into 12 categories and are now
soliciting comments on their regulations for three categories: Rules
of Procedure, Safety and Soundness, and Securities. The public has 90
days from publication in the Federal Register to comment on the
relevant regulations.
The agencies will request comment on
regulations in the remaining categories in 2025, asking the public to
identify the regulations they believe are outdated, unnecessary, or
unduly burdensome.
The agencies will hold a series of outreach
meetings where interested parties may comment on applicable regulatory
requirements directly to the agencies. Information about the outreach
meetings will be publicized as details are finalized.
RELATED
LINKS:
Economic Growth and Regulatory Paperwork Reduction Act
(EGRPRA)
Federal Register Notice
###
MEDIA
CONTACTS:
FDIC
Carroll Kim
(202)
898-7389
FRB
Chelsea Grate
(202)
452-2955
OCC
Anne Edgecomb
(202)
649-6870
FDIC: PR-102-2024
The FDIC does not send
unsolicited e-mail. If this publication has reached you in error, or
if you no longer wish to receive this service, please
unsubscribe.
STAY CONNECTED