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Financial Institution Letters

FDICconnect

FIL-53-2004
May 21, 2004


TO: CHIEF EXECUTIVE OFFICER
SUBJECT: FDIC Encourages Institutions to Register for FDICconnect
Summary: FDIC-insured institutions are encouraged to register for FDICconnect beginning immediately. FDICconnect is a secure Web site developed to facilitate electronic communication with FDIC-insured depository institutions, and offers a variety of electronic business transactions for institutions that will significantly improve operating efficiencies.

The Federal Deposit Insurance Corporation (FDIC) is encouraging FDIC-insured institutions that have not yet registered for FDICconnect to register as soon as possible. Once registered, institutions can take advantage of the many benefits FDICconnect has to offer. FDICconnect is a secure Web site developed exclusively for insured institutions to enable them to transact business with the FDIC more efficiently. With FDICconnect, your institution can go online to:

  • file applications and reports, including Electronic Branch Applications, beneficial ownership reports, and Acquiring Failed Financial Institution Surveys;
  • download current and recent assessment invoices or certified statements for your institution and request duplicate invoices and statements for the past five years;
  • register and update your Automated Clearing House (ACH) information for assessment payments;
  • change or correct information about your institution, and notify us about branch closings;
  • send secure e-mail to the FDIC (the FDIC will ensure it is directed to the right recipient);
  • order or download products from the FDIC, including electronic logos, posters, decals, brochures and artwork;
  • receive Financial Institution Letters and Special Alerts electronically; and
  • send questions, comments or complaints to the FDIC Ombudsman.

The FDIC plans to add more transactions and services to FDICconnect in the near future.

Registration for FDICconnect is quick and easy. All you have to do is select the appropriate employee to act as the FDICconnect Designated Coordinator for your institution, complete and sign the enclosed registration form, and fax or mail it back using the instructions on page 2 of the form. The FDIC will validate the registration form and notify the Designated Coordinator as soon as it is approved. The FDIC will also provide your Designated Coordinator with any technical guidance needed to start using FDICconnect.

After completing the registration process, the Designated Coordinator may grant other individuals access to execute transactions on behalf of the institution. These users can be employees of the institution, the holding company, an outside data servicer or a law firm, or individuals who need to submit a beneficial ownership filing. When appropriate, such as in the case of data servicers, authorized FDICconnect users may execute transactions on behalf of more than one institution.

While institutionsí use of FDICconnect is still voluntary, the FDIC encourages all financial institutions that have not yet registered to do so. Please note that while an institution may have provided its Summary of Deposits data or participated in a post-exam survey using FDICconnect, it may not yet have registered for continued access to the system.

For more information, please call the FDICconnect team toll-free at 1-877-275-3342 (Option 5 on the Bankersí Menu), or click on the FDICconnect link at www.fdic.gov on the Quick Links for Bankers page.

For your reference, FDIC Financial Institution Letters may be accessed on the FDIC's Web site at http://www.fdic.gov/news/news/financial/2004/index.html. To learn how to automatically receive FDIC Financial Institution Letters through e-mail, please visit www.fdic.gov/news/news/announcements/index.html.

Michael J. Zamorski
Director
Division of Supervision and Consumer Protection

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Attachment: (Available from the FDIC only in hard copy. The form has been mailed to all insured institutions.)

Distribution: FDIC-Insured Institutions

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


Last Updated 5/21/2004 communications@fdic.gov