The 1996 law cited above requires the agencies periodically to review their rules for insured depository institutions (IDIs), and this notice begins such a process for a limited range of issues. The agencies plan to progress through other key issues over the next few years, with the entire process potentially resulting in less regulatory burden and/or greater competitiveness for affected IDIs and, now, for their holding companies. This notice covers Applications and Reporting, Powers and Activities, and International Operations. However, the agencies make no specific suggestions for issues on which comment is particularly solicited and they are careful to remind commenters to ensure requests are focused on burden reduction and similar matters. Still, action on this issue or changes to eliminate outdated requirements could not only improve regulatory clarity, but also address growing costs – a major issue for large and small banks alike. Additional carve-outs for smaller banks are also possible as this process advances.
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