Six more agencies have agreed to work together to streamline the supervision of state-chartered banks.
Using a guideline approved this year by the Conference of State Bank Supervisors, the regulators determined a single point of examiner contact for banks that operate branches in more than one state.
The agencies involved include the Federal Reserve banks of Philadelphia and of Cleveland, the Federal Deposit Insurance Corp.'s New York regional office, and state regulators from Pennsylvania, New Jersey, and Delaware.
According to the agreement, the laws of the headquarters state will govern the bank's corporate structure and policies. The rules of the state where a branch is situated will apply to community reinvestment, fair- lending, antitrust, and deposit-concentration limits.
"By fostering communication and coordination among the agencies, we will be able to reduce the amount of regulatory burden on banks and enhance our responsiveness to the needs of local communities," said Michael E. Collins, senior vice president for supervision, regulation, and credit at the Philadelphia Fed.