Footnote 15: Generally, regulatory reviews to assess the need for regulatory amendments are made as a result of congressional
requests, court proceedings, or as required by the Economic Growth and Regulatory Paperwork Reduction Act of
1996 (EGRPRA), which requires the federal banking agencies to identify outdated, unnecessary, or unduly
burdensome statutory or regulatory requirements. Not less frequently than once every 10 years, as required by the
EGRPRA, the Federal Financial Institutions Examination Council (the Council) and each federal financial
regulatory agency represented on the Council conduct a review of all regulations prescribed by the Council or by
any such federal financial regulatory agency, to identify outdated or otherwise unnecessary regulatory requirements
imposed on insured depository institutions.