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Laws & Regulations

Economic Growth and Regulatory Paperwork Reduction Act of 1996

The Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA) requires that regulations prescribed by the Federal Financial Institutions Examination Council, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Board of Governors of the Federal Reserve System be reviewed by the agencies at least once every 10 years. The purpose of this review is to identify outdated or unnecessary regulations and consider how to reduce regulatory burden on insured depository institutions while, at the same time, ensuring their safety and soundness and the safety and soundness of the financial system.  The EGRPRA regulatory review provides an opportunity for the public and the agencies to look at groups of related regulations and to identify opportunities for burden reduction.  Throughout this review, the agencies request public comments and hold outreach meetings with communities where interested parties may comment on applicable regulatory requirements directly to the agencies.  A joint report of the findings is issued to Congress after each review.  The report lays out how the review was conducted, what has been done to date to address regulatory burden, and further describes any measures that the agencies will take to address issues that have been identified through the process.

The banking agencies completed their first EGRPRA review and submitted a report to Congress in 2007. The second EGRPRA review began in 2014 and the agencies submitted a report to Congress on March 21, 2017. The reports to these reviews can be found here:

2007 EGRPRA Joint Report to Congress  (ffiec.gov)
2017 EGRPRA Joint Report to Congress  (ffiec.gov)

The agencies commenced the third EGRPRA review in 2024 and plan to work with the public to reduce regulatory burden imposed upon insured depository institutions and their holding companies, promote consistency between the agencies’ regulations, support consumer protection, and consider burden impacts on community banks or their holding companies.  

What's New

Review Comments 

For additional information on the agencies' EGRPRA review, please see:

FFIEC EGRPRA Website

Prior Announcements

  • Press Releases 
  • Federal Register Publications
  • Outreach Meetings
    • Details, transcripts, and recordings of outreach meetings can be found on the FFIEC EGRPRA website.
       


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Last Updated: December 12, 2024