Regulatory Alerts2019-10-02 | 2019-20610Removal of Transferred OTS Regulations Regarding Regulatory Reporting Requirements, Regulatory Reports and Audits of State Savings Associations
The Federal Deposit Insurance Corporation proposes to rescind and remove 12 CFR part 390, subpart R, which contains transferred Office of Thrift Supervision regulations concerning regulatory reporting requirements, regulatory reports, and audits of State savings associations. The agency determined that these specific provisions are redundant because existing FDIC regulations under parts 304, 363, and 364 already impose equivalent or more comprehensive requirements on State savings associations and other insured depository institutions. This action aims to simplify the FDIC’s regulatory framework and promote parity between State savings associations and State nonmember banks by consolidating oversight under unified rules.
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