On October 28, 2015, the Federal Deposit Insurance Corporation (FDIC) published in the Federal Register final rules to streamline the filing requirements and processing procedures within its regulations implementing the Change in Bank Control Act (CIBCA) for state nonmember banks, state savings associations and certain parent companies thereof. The revised filing and processing regulations are a part of the FDIC's continuing review of its regulations under the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA) and will become effective January 1, 2016.

This final rule: (1) consolidates the current requirements and procedures for CIBCA notices filed with respect to state nonmember banks, state savings associations and certain parent companies thereof; (2) rescinds the FDIC's separate regulation governing the requirements and procedures for CIBCA notices filed with respect to state savings associations and certain parent companies thereof and rescinds any inconsistent guidance issued by the Office of Thrift Supervision (OTS) relating thereto; (3) increases consistency with other federal banking regulators by adopting the best practices of the related regulations of the Office of the Comptroller of the Currency (OCC) and the Board of Governors of the Federal Reserve System (FRB); and (4) clarifies the FDIC's requirements and procedures based on its experience interpreting and implementing the existing regulation.

The final rule can be found at: https://www.federalregister.gov/articles/2015/10/28/2015-27289/filing-requirements-and-processing-procedures-for-changes-in-control-with-respect-to-state-nonmember.