In a Financial Institution Letter, the FDIC notified FDIC-supervised institutions of recently adopted interim final rules which increase the asset threshold from $1 billion to $3 billion for qualifying insured depository institutions to be eligible for an 18-month on-site examination cycle. The rules were issued by the FDIC, Office of the Comptroller of the Currency and Federal Reserve Board. As previously covered, in order to be eligible for an extended examination cycle, the institution must have an "outstanding" composite rating.
The interim rules became effective on August 29, 2018. Comments must be received by October 29, 2018.
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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.
