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Financial Institution Letter
FDIC CONNECT Three New FDIC connect Business Transactions Available
February 19, 2013
Notes
 

Summary

The FDIC is offering three new online business transactions through FDIC connect , its secure transaction-based Web site for FDIC-insured institutions. Institutions will be able to submit interagency bank merger applications, notices of change in control, and notices of change of director or senior executive officer. 

Statement of Applicability to Institutions under $1 Billion: This Financial Institution Letter applies to all FDIC-supervised institutions, including those with less than $1 billion in assets. 

Highlights

  • In addition to the 20 existing business transactions available, FDIC-supervised institutions can now submit the following through FDIC connect : 
     
    • Interagency Bank Merger Application. The filing procedures are pursuant to 12 CFR §303.62 of the FDIC Rules and Regulations. This application is required for a merger, consolidation, or other combining transaction between nonaffiliated parties as well as to effect a corporate reorganization between affiliated parties under the Bank Merger Act, Section 18(c) of the Federal Deposit Insurance Act (FDIA), as amended (12 U.S.C. 1828(c)). 
    • Interagency Notice of Change in Control. The filing procedures are pursuant to 12 CFR §303.84 of the FDIC Rules and Regulations. This notice to acquire control of an insured state nonmember bank or a parent company of an insured state nonmember bank is required pursuant to the Change in Bank Control Act of 1978,Section 7(j) of FDIA (12 U.S.C. 1817(j)). 
    • Interagency Notice of Change of Director or Senior Executive Officer. The filing procedures are pursuant to 12 CFR §303.102 of the FDIC Rules and Regulations. Pursuant to Section 32 of FDIA (12 U.S.C. 1831i), an insured state nonmember bank is required to notify the FDIC of a proposed change in the board of directors or senior executive officer of such institution when the institution is not in compliance with all minimum capital requirements; the institution is in troubled condition; or the FDIC determines, in connection with its review of a capital restoration plan required under Section 38 of FDIA (12 U.S.C. 1831o) or otherwise, that such prior notice is appropriate. 
  • The Interagency Biographical and Financial Report (FDIC 3064-0006) that must accompany the above transactions may be downloaded at http://www.fdic.gov/regulations/laws/FORMS/notices.html and mailed to the appropriate Regional Office.
  • Questions regarding the filing requirements of each application, notice, and report may be directed to the appropriate FDIC Regional Office.

Suggested Distribution

All FDIC-supervised Banks and Savings Associations 

Suggested Routing

Chief Executive Officer

Executive Officers

Compliance Officer

Note

FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/financial-institution-letters/2013/index.html.

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/index.html.

Paper copies may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, Room E 1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200). 

FIL-5-2013
Attachments
Last Updated: February 19, 2013