Summary:

The FDIC is issuing guidance in the form of supplemental "Questions and Answers" (Q&As) to aid applicants in developing proposals for deposit insurance. The supplemental Q&As, which address business planning, provide additional transparency to the application process and supplement the guidance issued November 20, 2014, through Financial Institution Letter (FIL) 56-2014.

Statement of Applicability to Institutions With Total Assets Under $1 Billion: This Financial Institution Letter applies to all insured depository institutions.

Highlights:

• Part 303 (Subpart B) of the FDIC Rules and Regulations (12 U.S.C. § 1815) sets forth the administrative procedures to apply for deposit insurance.
• The FDIC Statement of Policy on Applications for Deposit Insurance , which was effective October 1, 1998, provides additional guidance to proposed depository institutions applying for deposit insurance.
• The FDIC issued Q&As on November 20, 2014, through FIL-56-2014, entitled Guidance Related to the FDIC Statement of Policy on Applications for Deposit Insurance . The Q&As addressed pre-filing meetings, processing timelines, initial capitalization, and initial business plans of de novo institutions.
• The supplemental Q&As address business plan content with respect to initial submissions, weaknesses identified in submitted plans, and changes in business plans.
• The FDIC may post additional Q&As as circumstances warrant.

Distribution:

• FDIC-Insured Depository Institutions

Suggested Routing:

• Chief Executive Officer
• Chief Financial Officer

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