Expanded Examination Cycle for Certain Small Insured Depository Institutions and U.S. Branches and Agencies of Foreign Banks (12 C.F.R. Part 4)

2 organizations filed 3 public comments on Expanded Examination Cycle for Certain Small Insured Depository Institutions and U.S. Branches and Agencies of Foreign Banks (12 C.F.R. Part 4), at the Office of the Comptroller of the Currency. The comment window closed 7019d ago.

Abstract

The Office of the Comptroller of the Currency (OCC) plans to issue an interim final rule to amend 12 CFR Part 4, the rule concerning the frequency of examination of national banks. The interim rule will implement section 605 of the Financial Services Regulatory Relief Act of 2006, Pub. L. No. 109-351, 120 Stat. 1966 (2006) (FSRRA), and conforming amendments made in H.R. 6345, Pub. L. No. ___, ___ Stat. ___ (2006). Section 605 of the FSRRA increased the availability of the extended 18-month examination cycle to well-qualified banks, e.g those that are well-managed and well-capitalized, with composite Uniform Financial Institutions Rating System (UFIRS) supervisory ratings of “outstanding” (UFIRS 1) and assets of $500 million or less. Under the current version of Part 4, extended examination cycles are only available to well-qualified banks with assets of $250 million or less. OCC would revise Part 4 to raise that figure to $500 million. The interim rule will also implement the discretion granted the OCC in H.R. 6345 to permit well-qualified banks with $500 million or less in total assets and composite ratings of “good” (UFIRS 1 or 2) to qualify for an 18-month examination cycle. The interim rule will define the term “well managed” to mean a bank with a UFIRS rating of 1 or 2 for management in bank’s latest supervisory review.

Commenters (2)

• Wisconsin Bankers Associationtrade assoc.

  2 filings · confidence 97%
• American Bankers Associationtrade assoc.

  1 filing · confidence 97%