The FDIC is committed to developing and promulgating regulations that support and maintain the stability and public confidence in the nation’s financial system. To promote these efforts, the FDIC has a longstanding policy and practice of reviewing its proposed and existing regulations to evaluate their impact and continued effectiveness.
FDIC's Statement of Policy on Rulemaking
The FDIC implements its regulations in the least-burdensome manner possible, in accordance with the FDIC Statement of Policy on the Development and Review of Regulations and Policies (Statement of Policy). The Statement of Policy recognizes the FDIC's commitment to minimizing regulatory burdens on the public and the banking industry and the need to ensure that FDIC regulations and policies achieve regulatory goals effectively. The Statement of Policy also provides that the FDIC will periodically review its regulations and statements of policy to ensure that they are current, effective, efficient, and continue to meet principles of the Statement of Policy.
In addition to this longstanding policy, the FDIC reviews its regulations periodically pursuant to the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA).
Economic Growth and Regulatory Paperwork Reduction Act of 1996
The FDIC undertakes a comprehensive review of its regulations in order to identify any outdated, unnecessary or unduly burdensome regulations. This well-established process requires the FDIC to conduct a complete review of its regulations at least once every ten years. The FDIC completed its last review under EGRPRA in 2017 and plans to complete its next comprehensive review in 2026. The public is encouraged to participate in this review and comments received are carefully considered to determine how best to reduce regulatory burden on insured depository institutions.
Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA)
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