Joint Release/Federal Banking Agencies Expand Number of Banks and Savings Associations Qualifying for 18-Month Examination Cycle — 2016-02-19

Joint Release Office of the Comptroller of the Currency Federal Banking Agencies Expand Number of Banks and Savings Associations Qualifying for 18-Month Examination Cycle WASHINGTON—Federal banking agencies today increased the number of small banks and savings associations eligible for an 18-month examination cycle rather than a 12-month cycle. The changes are intended to reduce regulatory compliance costs for smaller institutions, while still maintaining safety and soundness protections. Under the interim final rules, qualifying well-capitalized and well-managed banks and savings associations with less than $1 billion in total assets may now be eligible for an 18-month examination cycle. Previously, firms with less than $500 million in total assets could be eligible for the extended examination cycle. The examination cycle changes may also apply to qualifying well- capitalized and well-managed U.S. branches and agencies of foreign banks with less than $1 billion in total assets.