Thanks in large part to such efforts, examiners today conduct more of their supervisory activities offsite, helping to reduce the burden that is associated with on-site examinations at institutions like yours. Beyond these changes, the Federal Reserve is participating in an ongoing interagency review of banking regulations pursuant to the Economic Growth and Regulatory Paperwork Reduction Act, known as EGRPRA.
This review seeks to identify opportunities to streamline regulatory procedures and requirements when such changes would be consistent with maintaining bank safety and soundness. The Board has also supported various legislative changes that would ease regulatory burden.