WASHINGTON-The Federal Reserve Board Director of Bank Supervision Richard Spillenkothen wrote in a letter last week that banks with less than $1 billion in assets may undergo off-site examinations rather than having Fed examiners come into the bank for reviews. The practice is aimed at "more effective use of targeted on-site reviews." If credit unions were subjected to the same policy, only about 50 would have examiners coming into the institution. Credit unions have also had success in obtaining flexibility at the regulatory level with the application of the 18-month examination cycle and the Regulatory Flexibility program.
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