WASHINGTON—The Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. have finalized rules formally defining “unsafe and unsound” banking practices, Reuters reported.
The rules, first proposed in October, establish guidelines for determining when bank conduct warrants criticism by government examiners. The agencies said the definitions will bring “clarity and certainty” to bank examinations.
The action is part of the Trump Administration’s broader effort to refocus supervision on banks’ core financial risks and reduce examiners’ emphasis on minor issues. The Federal Reserve, which also supervises banks, has not issued a corresponding proposal.