ICBA is calling on community bankers to submit comments this week on the FDIC’s proposal to adjust and index certain regulatory thresholds, most notably Part 363 independent audit and reporting requirements.
About the Proposal: The FDIC’s goal for the proposal is to “address the unintended outcome where an institution becomes subject to additional or more stringent regulatory requirements due solely to inflation rather than actual changes in the institution’s size, risk profile or level of complexity.”
What It Means for Community Bankers: Because the FDIC has not made regular adjustments to the Part 363 asset thresholds mandated under the Federal Deposit Insurance Corporation Improvement Act of 1991 to keep pace with industry changes, the current limits no longer provide a meaningful exemption to community banks.
Guide to Submitting Letters: ICBA’s Be Heard Grassroots Action Center features a step-by-step guide to help community bankers formulate a comment letter. Comments are due by this Friday, Sept. 26.