The Federal Deposit Insurance Corp. is seeking comment on a proposal to retire certain financial institution letters, part of an effort to reduce the regulatory burden on banks it oversees.
Under the proposal, the FDIC would archive more than half, or 374 of 664, of its risk-management supervision letters issued between 1995 and 2017.
The letters are "outdated" or "convey regulations or other information that is still in effect but available elsewhere on the FDIC's website," the agency said in a release. The materials would remain accessible if they are needed for reference.
The letters are a tool for agencies to send information to financial institutions about new regulations, supervisory guidance, management tools, and regulatory relief.
Read more in American Banker.