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Community Bank Regulatory Relief: Exam Cycle and Small Holding Companies

In August 2018, the federal banking agencies issued two interim rules implementing provisions of the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 (EGRRCPA) intended to reduce regulatory burdens on banks, thrifts, and their holding companies. On August 23, the federal banking agencies issued joint interim final rules allowing qualifying insured depository institutions with under $3.0 billion in total assets to benefit from an extended 18-month examination schedule in place of the former 12-month schedule. And on August 28, the Federal Reserve issued an interim final rule expanding the applicability of its small bank holding company policy statement to bank holding companies and savings and loan holding companies with consolidated assets of up to $3.0 billion.

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