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Last update: 02/01/15

Please Share Your Regulatory Burden/EGRPRA Comments with ICBA

Over a two year period, the federal banking agencies will be conducting a review of their regulations to identify outdated, unnecessary, or unduly burdensome regulations for insured depository institutions. This review is required by the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA) which requires this review at least once every ten years.

To facilitate this review, the agencies have divided their regulations into twelve subject-matter categories and will publish four requests for comment over the two year period. The first request deals with three categories-- Applications and Reporting, Powers and Activities and International Operations—and comments are due by September 2, 2014. A complete list of the regulations is included in the charts in the first request for comments.

With respect to the first subject-matter category which is Applications and Reporting, the regulations that would be covered include those issued under the Bank Merger Act (12 CFR Part 303, Subpart D), the Change in Bank Control Act (12 CFR Part 303, Subpart E), and the Notice of Additions or Change of Directors (12 CFR Part 303, Subpart F). It would also include the National Bank Rules, Policies and Procedures for Corporate Activities as well as the Federal Savings Association Application Processing Procedures. It would also include the regulations on call reports, holding company formations, acquisitions and nonbanking activities and well as Federal Reserve Regulation H.

With respect to the Powers and Activities category, the regulations that would be covered include national bank activities and operations, national bank debt cancellation contracts, national bank fiduciary activities and national bank investment in securities and bank premises. It would also include the powers and activities regulations for federal savings associations, and the Federal Reserve regulations dealing with bank holding companies, fiduciary activities, real estate leasing, lending and the sales of insurance.

With respect to the International Operations category, the regulations that would be covered include international lending supervision, foreign operations of national banks and international operations of U.S. banking organizations.

Please provide feedback to ICBA on these regulations by going here and giving us your comments in “Your EGRPRA Feedback” section. Comments on these first three categories are due by September 2, 2014.

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