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Comments due on FDIC proposal to remove transferred OTS rules

11/01/2019
Status: 

The FDIC has published [84 FR 52387] a notice of proposed rulemaking that would rescind and remove 12 CFR part 390, subpart R (Regulatory Reporting Standards, from the Code of Federal Regulations. The removal would simplify the FDIC's regulations by removing unnecessary rules, thereby improving ease of reference and public understanding. It also would create parity between state savings associations and state nonmember banks by having the regulatory reporting requirements, regulatory reports and audits of both classes of institutions addressed in the same FDIC rules. Comments must be received on or before November 1, 2019.

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