In a July 6 inter-agency statement, the Fed, the FDIC and the OCC announced that they will no longer enforce enhanced prudential standards on banks with less than $100 billion in assets, pursuant to the banking regulatory reform bill signed into law by President Trump on May 24. The agencies still have 18 months to determine which firms with more than $100 billion but less than $250 billion in total consolidated assets will continue to be subject to the requirement under the new law. The Fed on the same day also issued a separate announcement for the banks it supervises describing how, consistent with the recently enacted Economic Growth, Regulatory Relief and Consumer Protection Act, it will no longer subject primarily smaller, less complex banking organizations to certain regulations, including those relating to stress testing and liquidity. The Fed/FDIC/OCC announcement also addresses changes in the law relating to company-run stress testing, resolution plans, the Volcker rule, high volatility commercial real estate exposures, examination cycles, municipal obligations as high-quality liquid assets and other provisions. Additional regulatory changes will be issued in the coming months to comply with the new law.