Banking Agencies Request for Comment on FAST Act Provision Published (Fed. Reg.)
A joint request by the OCC, the Board of Governors of the Federal Reserve System and the FDIC (the "agencies") for comments on interim final rules to implement Section 83001 of the Fixing America's Surface Transportation Act ("FAST Act") was published in the Federal Register.
Section 83001 permits the agencies to examine qualifying insured depository institutions with less than $1 billion in total assets at least once during each 18-month period.
The interim final rules became effective on February 29, 2016. Comments on the rules must be received by April 29, 2016.
Related Articles
-
The Office of the Comptroller Currency, the Board of Governors of the Federal Reserve System and the FDIC requested public comment on interim final rules to increase the number of small banks and savings associations eligible for an 18-month examination cycle.
-
The Board of Governors of the Federal Reserve System requested comments on an interim final rule that would amend FAST Act provisions governing the issuance and cancellation of capital stock by Reserve Banks.
-
President Obama signed the "Surface Transportation and Reauthorization and Reform Act of 2015" (H.R. 22) (the "FAST Act") into law. The act includes a number of financial services provisions in Titles LXXI to LXXXVI (Titles 71-86).
