Regulatory Alerts2019-10-03 | 2019-20770Removal of Transferred OTS Regulations Regarding Accounting Requirements for State Savings Associations
The Federal Deposit Insurance Corporation proposes to rescind and remove Part 390, Subpart T of its regulations, which contained accounting requirements for State savings associations transferred from the Office of Thrift Supervision. The FDIC determined that these specific disclosure rules are substantially similar to, though more detailed than, requirements already applicable under federal banking and securities laws. Removing these redundant regulations aims to streamline the FDIC's rulebook and promote parity between State savings associations and State nonmember banks.
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