Highlights: - An immediate e-mail notification that a FIL has been issued. There is no need for routine manual checks of the FDIC’s Web site (fdic.gov) for FILs that have been issued.
- The immediate availability of the FIL. Through the traditional mail system, receipt of the paper copy typically takes a week or longer.
- The easy retrieval of the FIL. No user ID or password is required.
- The availability for multiple registrants from the same institution to receive FILs.
Distribution:
All Insured Banks and Savings Associations Suggested Routing:
Chief Executive Officer
Executive Officers Note:
FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/financial-institution-letters/2006/index.html .
To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html .
Paper copies of FDIC FILs may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342 or (703) 562-2200). |
Delivery of Financial Institution Letters
Electronic Distribution to Become Primary Method Beginning April 1, 2006, the Federal Deposit Insurance Corporation (FDIC) will change its primary method of distributing Financial Institution Letters (FILs) from paper-copy delivery through the U.S. Postal Service to electronic delivery through the FDIC’s free online subscription service. The change is expected to provide institutions with a number of benefits, including: - An immediate e-mail notification that a FIL has been issued. There is no need for routine manual checks of the FDIC’s Web site (fdic.gov) for FILs that have been issued.
- The immediate availability of the FIL. Through the traditional mail system, receipt of the paper copy typically takes a week or longer.
- The easy retrieval of the FIL. No user ID or password is required.
- The availability for multiple registrants from the same institution to receive FILs.
In addition to providing these benefits to the banking industry, the change to electronic delivery reaffirms the FDIC’s commitment to: - Comply with the Government Paperwork Elimination Act of 1998 (GPEA);
- Address President Bush’s Management Agenda, which directs government agencies to establish electronic alternatives to current paper processes where feasible; and
- Provide increased customer service to FDIC-insured institutions by improving communications.
The FDIC encourages institutions to register for its online subscription service immediately to ensure that there is no disruption in receiving the important information contained in FILs. This registration requires a user to enter just seven pieces of information. Once registered, the user will receive an e-mail notification every time a new FIL is issued.
In addition to electing to receive FILs, a registered user can elect to receive other free information, such as: - Bank Data and Statistics
- Bank/Regulatory Policy
- Consumer Information
- Corporate Plans and Reports
- Failed Bank Information
- News and Events
- Research and Analysis
To register for the online subscription service, go to http://www.fdic.gov/about/subscriptions/index.html .
To guarantee that the FIL notification e-mails are received, institutions should ensure that their network spam filters are set to accept all e-mails from fdic.gov.
Institutions without Internet access may request to continue receiving FILs through the mail by completing the attached paper-delivery request form and faxing it to the FDIC at (703) 465-4314. To ensure that no disruption in delivery occurs, this form must be submitted to the FDIC by March 24, 2006.
To view previously issued FILs, go to http://www.fdic.gov/news/financial-institution-letters/index.html .
For more information, please contact Gina Luckenbill, Information Management Analyst, Division of Supervision and Consumer Protection, at (202) 898-3848 (e-mail, GLuckenbill@fdic.gov). Christopher J. Spoth Acting Director Division of Supervision and Consumer Protection |
