On March 24, 2016, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (FDIC) issued and are requesting public comment on an interim final rule that will allow more community banks to be eligible for the 18-month on-site examination cycle. The rule expands eligibility to qualifying insured depository institutions with less than $1 billion in total assets. Press Release. Interim Final Bill.
community banks
Stress Testing for Community Banks
On May 14, the Fed, FDIC, and OCC issued a statement to clarify expectations that community banks with $10 billion or less in assets are not required to conduct the types of stress testing required of larger organizations. Joint Release.