Removal of the FDIC's Part 350 Annual Disclosure Statement Requirement
Summary:
On March 8, 2019, the FDIC Board approved a final rule rescinding and removing Part 350 of the FDIC’s regulations, which is entitled Disclosure of Financial and Other Information by FDIC‑Insured State Nonmember Banks. The FDIC is taking this action to simplify its regulations by eliminating unnecessary or redundant regulations, which is consistent with the objectives of Section 2222 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996.
Statement of Applicability to Institutions With Total Assets Under $1 Billion:
This Financial Institution Letter applies to all FDIC-supervised institutions, including community institutions.
Distribution:
FDIC-Supervised Institutions
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