Regulators Take Steps to Eliminate Differences in Thrift, Bank and Holding Company Reporting Requirements
February 09, 2011
By V. Gerard Comizio, Kevin L. Petrasic & Helen Y. Lee
On February 3, 2011, the Office of Thrift Supervision (OTS) and its future successors the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve Board (FRB) (collectively, the Agencies), announced proposed changes to the reporting requirements currently applicable to savings associations, or thrifts, and their parent holding companies (SLHCs). The announcement marks one of the first steps in many more expected to come toward the anticipated homogenization of the regulation of thrifts and SLHCs with their commercial bank and bank holding company (BHC) counterparts.