US banking regulators are planning to more frequently examine large, complex loans made by the biggest banks as part of an effort to better assess whether risks are building across the industry.

Beginning next year, the Federal Reserve, Office of the Comptroller of the Currency, and Federal Deposit Insurance Corp will conduct their joint national examination of major loan portfolios twice a year, instead of annually, according to people familiar with the matter. The agencies are also discussing requiring banks to report portfolio data on a quarterly basis, instead of annually, one of the people said.