Last year, we started publishing a semiannual report that improves the transparency of the applications process by providing information on the applications that have been approved, denied, and withdrawn and the length of time to review applications. 3 We are currently reviewing our rules to see whether there are ways to expedite the applications review process by delegating additional matters to the Reserve Banks.
In addition, we have received suggestions regarding possibly broadening the measure of the degree of competition in a banking market to include the activities of Internet banks.