The Office of the Comptroller of the Currency, the Federal Reserve Board and the FDIC (collectively, the "agencies") issued final rules to increase asset threshold from $1 billion to $3 billion for insured depository institutions ("IDIs") to be eligible for an extended 18-month on-site examination cycle. The final rules were published in the Federal Register. The rules become effective on January 28, 2019.
As previously covered, the final rules have been in place as interim rules since August 29, 2018. The rules were adopted to comply with the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
