The Office of the Comptroller of the Currency ("OCC") reminded national banks, federal savings associations, and federal branches and agencies of the interim final rule under which qualifying insured depository institutions with less than $3 billion in total assets are now eligible for an 18-month examination cycle. The interim final rule became effective on August 29, 2018, and comments on the rule must be received by October 29, 2018 (see previous coverage). In an OCC bulletin, the OCC stated that it retains the authority to examine a bank on site more frequently, as the agency considers necessary.
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