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REDUCING REGULATORY BURDEN, PROTECTING DEPOSIT INSURANCE ADOPTED AS IBAA'S TOP PRIORITIES

 WASHINGTON, March 18 /PRNewswire/ -- The Independent Bankers Association of America (IBAA) has targeted reducing the compliance and paperwork burden, and protecting fair and equitable multiple- account deposit insurance coverage as its top priorities for the next year.
 "Excessive and unnecessary paperwork and compliance requirements are imposing a severe burden on community banks, exacerbating the credit crunch and diminishing community banks' ability to serve their communities and support small business through lending," IBAA notes in its priority resolution on the regulatory burden.
 The resolution also recognizes the "prudent but significant steps" President Clinton has taken toward rolling back the regulatory burden, and it calls upon Congress to follow the administration's steps with targeted legislation aimed at rolling back the micromanagement provisions of the FDIC Improvement Act of 1991.
 The IBAA also gives strong support to the "adoption of fair and equitable legislation and regulations that recognize the inherent differences between large and small banks." The IBAA Board of Directors has reinforced this position by adopting a special resolution that urges Congress to pass targeted regulatory exemptions for banks with assets under $250 million.
 In the priority resolution on deposit insurance, IBAA states: "Our existing deposit insurance system is the key element in maintaining depositor confidence in the financial system and a safe and sound banking system. The funding base of community banks and the financial needs of their customers depend on the maintenance of the existing deposit insurance system for community banks."
 The resolutions were adopted by community bankers as part of a hard-hitting package addressing a variety of banking, financial and economic issues.
 "Our goals are clear," said IBAA Chairman Bob Hawkins, chairman of Southern Commercial Bank, St. Louis. "We are focusing sharp attention on the need to enhance community banks' ability to make job-creating loans to small businesses."
 IBAA President James Lauffer, chairman/president/CEO of First National Bank of Herminie, Irwin, Pa., added: "Community banks are vital to the communities they serve. They create jobs, spur economic development in their communities and help people realize their dreams. Our nation's economic strength is linked to community banks' ability to fulfill important roles in their communities."
 Other major resolutions include:
 -- Urging Congress and the administration to provide incentives to community banks and other existing institutions to expand their community development activities.
 -- Protecting the nation's diversified financial system.
 -- Balancing regulations that are consistent with the principles of safety and soundness without the unnecessary cost and burden.
 -- Acknowledging agriculture as an integral component of the nation's long-term economic strategy.
 -- Stating concern that overly burdensome accounting standards will become an important factor in business decisions, rather than serving as a tool to record transactions.
 IBAA's 1993 resolutions are divided into three tracks -- political vigilance, products and services, and education and information access. Community bankers also adopted resolutions that will direct IBAA's efforts to strengthen the association.
 IBAA is the only national trade association that exclusively represents the nation's community banks.
 -0- 3/18/93
 /CONTACT: Ken Guenther of the Independent Bankers Association of America, 202-659-8111/


CO: Independent Bankers Association of America ST: District of Columbia IN: FIN SU:

DC -- DC023 -- 9036 03/18/93 16:46 EST
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Date:Mar 18, 1993
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