It's been 18 months since Congress dropped the Federal Deposit Insurance Corporation Improvement Act bomb on the banking industry. And some of the toughest rules are yet to come.

This week the dreaded section 132 is expected to be put out for comment.

Bankers hate the provision because it requires regulators to come up with strict standards for underwriting credit, documenting loans, and calculating interest rate exposure.

"This is micromanagement of banking," said Diane Casey, executive director of the Independent Bankers Association of America. "Even the regulators have complained that this dictates micromanagement. There is nothing it doesn't cover."

Section 305 also is expected to go out for comment this week. It requires regulators to modify capital rules to take into account interest-rate risk, concentration of credit risk, and risk from non-traditional activities.

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