The American Bankers Association has recommended to banking regulators that only financial institutions with total insured deposits of more than $10 billion should be required to establish the outside audit committees ordered in the Federal Deposit Insurance Corporation Improvement Act of 1991.

"The auditing and accounting provisions of the FDICIA will place a phenomenal regulatory burden on our members," said Bill O'Halloran, chairman of the ABA Accounting Committee and senior vice president/comptroller of Atlanta-based Sun-Trust Banks.

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