12 C.F.R. § 563.171 Frequency of safety and soundness examination.
Title 12 - Banks and Banking
(a) General. The OTS examines savings associations pursuant to authority conferred by 12 U.S.C. 1463 and the requirements of 12 U.S.C. 1820(d). The OTS is required to conduct a full-scope, on-site examination of every savings association at least once during each 12-month period. (b) 18-month rule for certain small institutions. The OTS may conduct a full-scope, on-site examination of a savings association at least once during each 18-month period, rather than each 12-month period as provided in paragraph (a) of this section, if the following conditions are satisfied: (1) The savings association has total assets of $250 million or less; (2) The savings association is well capitalized as defined in §565.4 of this chapter; (3) At its most recent examination, the OTS found the savings association to be well managed; (4) At its most recent examination, OTS determined that the savings association was in outstanding or good condition, that is, it received a composite rating of 1 or 2, as composite rating defined in §516.5(c) of this chapter; (5) The savings association currently is not subject to a formal enforcement proceeding or order; and (6) No person acquired control of the savings association during the preceding 12-month period in which a full-scope, on-site examination would have been required but for this section. (c) Authority to conduct more frequent examinations. This section does not limit the authority of the OTS to examine any savings association as frequently as the agency deems necessary. [63 FR 16381, Apr. 2, 1998, as amended at 64 FR 69185, Dec. 10, 1999; 66 FR 13008, Mar. 2, 2001]
Title 12: Banks and Banking
PART 563—SAVINGS ASSOCIATIONS—OPERATIONS
Subpart F—Financial Management Policies
§ 563.171 Frequency of safety and soundness examination.
