FDIC asks for feedback on its approach to cost-benefit analysis
WASHINGTON — The Federal Deposit Insurance Corp. is asking for public feedback on the processes the agency uses to analyze the cost-benefit impact of policy decisions.
“A transparent analysis of the effects of regulatory actions is an important part of credible rulemaking,” FDIC Chairman Jelena McWilliams said in a press release. “It supports good policy decisions and the meaningful involvement and trust of the public in the rulemaking process.”
The FDIC said it plans to make its cost-benefit process “more structured” and incorporate “a number of analytical practices identified in standard references,” according to a notice posted to the Federal Register late last month.
The agency nodded to Office of Management and Budget guidance on regulatory cost-benefit analyses as a potential model for how the FDIC proceeds. (As an independent regulator, the FDIC is technically not required to follow OMB guidance.)
The FDIC will accept public feedback through Jan. 28, 2020.