AICPA/FAF/NASBA “Blue-Ribbon Panel” on Standard Setting for Private Companies

U.S. Federal Financial Institution Regulatory Agencies Group

The U.S. Federal Financial Institution Regulatory Agencies Group (Group) consists of the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), the Office of Thrift Supervision (OTS), and the Board of Governors of the Federal Reserve System (FRB). The Group was established on March 10, 1979, pursuant to title X of the Financial Institutions Regulatory and Interest Rate Control Act of 1978 (FIRA), Public Law 95-630. In 1989, title XI of the Financial Institutions Reform. The Group is a formal interagency body empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions by the FRB, FDIC, NCUA, OCC, and OTS and to make recommendations to promote uniformity in the supervision of financial institutions. The group is being represented primarily by Karen Kelbly, Chief Accountant of the NCUA.