United States:
OCC Advises Banks Of Expanded Eligibility For Extended On-Site Examination Cycle
14 September 2018
Cadwalader, Wickersham & Taft LLP
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The Office of the Comptroller of the Currency ("OCC")
reminded national banks, federal savings
associations, and federal branches and agencies of the interim
final rule under which qualifying insured depository institutions
with less than $3 billion in total assets are now eligible for an
18-month examination cycle. The interim final rule became effective
on August 29, 2018, and comments on the rule must be received by
October 29, 2018 (see
previous coverage). In an OCC bulletin, the OCC stated that it
retains the authority to examine a bank on site more frequently, as
the agency considers necessary.
The content of this article is intended to provide a general
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