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In 2003, the FDIC will complete the first
steps in its project to reduce regulatory burden. FDIC Chairman Don
Powell in
a
message last year announced the project and solicited ideas from FDIC
employees, the public and the industry.
Based on an analysis of the more than 400
comments
received, the FDIC developed five initiatives we will complete this
year:
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Streamline
the application process for bank charters and branching, possibly with
alternatives for electronic filing and recommendations to Congress for
legislative changes.
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Develop a
system to periodically review FDIC Financial Institution Letters (FILs)
to replace or delete outdated or superceded information and provide a
user-friendly search function for all online FILs.
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Improve
communications with external stakeholders, particularly via the FDIC
Website.
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Simplify/clarify deposit insurance rules, particularly concerning
living trust issues.
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Develop an
electronic distribution system for Regional Directors that will enable
them to share supervisory information, such as trends and findings from
examinations with financial institutions in their regions.
In addition, the FDIC has joined the FFIEC
and its member agencies to begin the burden reduction process required by
the Economic Growth and Regulatory Paperwork Reduction Act of 1996
(EGRPRA). Directed by FDIC Vice Chairman John Reich, this interagency
project includes both an internal review of regulations unique to the FDIC
and a joint agency review of interagency regulations.
Please
submit your suggestions for other ways that the FDIC can reduce
regulatory burden and improve efficiency. We need your insights and
guidance to ensure that the resulting initiatives succeed in reducing
regulatory burden.
When submitting suggestions, please
specifically describe your concern and the solution you propose. Note that
only legislation can change some requirements. Our questionnaire
asks for some information about you (for example, if you’re a banker and,
if so, the general size of your bank). You don’t have to provide
this information, but it may help the FDIC as we try to craft solutions to
the problems you identify.
The FDIC's Privacy Policy Statement
explains how we will use the information you
submit. | 
