Amendments Implementing Economic Growth and Regulatory Paperwork Reduction Act

The Office of Thrift Supervision (OTS) today is issuing a final rule implementing provisions of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA). Among other actions, EGRPRA: expanded and clarified federal thrifts' lending and investment authority; amended the Qualified Thrift Lender (QTL) test; authorized OTS to grant anti-tying exceptions conforming to exceptions granted to banks by the Board of Governors of the Federal Reserve System (FRB); and modified OTS's oversight authority over bank holding companies that own savings associations. Today's rule implements these statutory changes in final form and enables thrifts to take advantage of the expanded flexibility and burden reduction afforded by EGRPRA.