Title 12 — Banks and Banking
Chapter 48 — Financial Institutions Regulatory Improvement
§ 4802. Administrative consideration of burden with new regulations
Statutory text
Agency considerations
In determining the effective date and administrative compliance requirements for new regulations that impose additional reporting, disclosure, or other requirements on insured depository institutions, each Federal banking agency shall consider, consistent with the principles of safety and soundness and the public interest—
any administrative burdens that such regulations would place on depository institutions, including small depository institutions and customers of depository institutions; and
the benefits of such regulations.
Adequate transition period for new regulations
In general
New regulations and amendments to regulations prescribed by a Federal banking agency which impose additional reporting, disclosures, or other new requirements on insured depository institutions shall take effect on the first day of a calendar quarter which begins on or after the date on which the regulations are published in final form, unless—
the agency determines, for good cause published with the regulation, that the regulation should become effective before such time;
the regulation is issued by the Board of Governors of the Federal Reserve System in connection with the implementation of monetary policy; or
the regulation is required to take effect on a date other than the date determined under this paragraph pursuant to any other Act of Congress.
Early compliance
Any person who is subject to a regulation described in paragraph (1) may comply with the regulation before the effective date of the regulation.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Riegle Community Development and Regulatory Improvement Act of 1994
Pub. L. 103–325 title III § 302 · 108 Stat. 2160
Enacted · 12 U.S.C. § 4802
(Pub. L. 103–325, title III, § 302, Sept. 23, 1994, 108 Stat. 2214.)
Source evidence
Code source credit
(Pub. L. 103–325, title III, § 302, Sept. 23, 1994, 108 Stat. 2214.)Enacted provision · exact public law section
SEC. 302. ADMINISTRATIVE CONSIDERATION OF BURDEN WITH NEW REGULATIONS. (a) Agency Considerations.— In determining the effective date and administrative compliance requirements for new regulations that impose additional reporting, disclosure, or other requirements on insured depository institutions, each Federal banking agency shall consider, consistent with the principles of safety and soundness and the public interest— (1) any administrative burdens that such regulations would place on depository institutions, including small depository institutions and customers of depository institutions; and (2) the benefits of such regulations. (b) Adequate Transition Period for New Regulations.— (1) In general.— New regulations and amendments to regulations prescribed by a Federal banking agency which impose additional reporting, disclosures, or other new requirements on insured depository institutions shall take effect on the first day of a calendar quarter which begins on or after the date on which the regulations are published in final form, unless— (A) the agency determines, for good cause published with the regulation, that the regulation should become effective before such time; (B) the regulation is issued by the Board of Governors of the Federal Reserve System in connection with the implementation of monetary policy; or (C) the regulation is required to take effect on a date other than the date determined under this paragraph pursuant to any other Act of Congress. (2) Early compliance.— Any person who is subject to a regulation described in paragraph (1) may comply with the regulation before the effective date of the regulation.
1 of 1 references resolved to an enrolled provision