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Financial Institution Letters

Certificate of Deposit Insurance

FIL-45-2004
April 26, 2004


TO: CHIEF EXECUTIVE OFFICER
SUBJECT: New Practice on Providing Certificates of Deposit Insurance for Display
Summary: Beginning June 1, 2004, the FDIC will no longer automatically provide original certificates of deposit insurance for display at an insured institutionís offices. Instead, the FDIC will provide only one original certificate to an institution when it is granted insurance.

Beginning June 1, 2004, the Federal Deposit Insurance Corporation (FDIC) will no longer automatically provide for display original certificates of deposit insurance for each office of each insured institution bearing the institutionís name, location, and certificate number. The FDIC will provide only one original certificate to an institution when the institution is granted insurance. This certificate is for display at the institutionís main office location and will be replaced if the institutionís name or main office location changes.

Generic certificates will be provided for display in an institutionís branch offices (see attached). Institutions that wish to display the generic certificates in their branch offices should submit written requests for the appropriate number of certificates. Requests should be addressed to the Executive Secretary Section, Legal Division, 550 17th Street, N.W., Washington, D.C. 20429. The generic certificates will be directed to the institutionís main office location.

Please note that certificates of insurance are not required by the FDICís rules, and displaying the certificates is optional.

For your reference, FDIC Financial Institution Letters may be accessed from the FDICís Web site at http://www.fdic.gov/news/news/financial/2003/index.html.

Robert E. Feldman
Executive Secretary
 

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Attachment

Distribution: FDIC-Insured Institutions

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDICís Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342 or (703) 562-2200).




Last Updated 4/26/2004 communications@fdic.gov