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Financial Institution Letter

SUBJECT: Proposed Rule Governing Filing Procedures
(Part 303 of the FDIC's Rules and Regulations)
Summary: The FDIC is seeking public comment on certain proposed changes to Part 303 of the FDIC's Rules and Regulations.

The Federal Deposit Insurance Corporation (FDIC) Board of Directors is requesting public comment on the attached proposed rule clarifying the filing and processing of applications submitted by insured depository institutions. Comments on this proposed rule are due by February 25, 2003.

The proposal, in part, contains amendments to:

  • clarify the regulation and definitions contained therein,
  • add a provision for authority to waive any non-statutorily required provision for good cause, and
  • clarify that the acquisition of control of a parent company of a state nonmember bank generally requires a change in control notice.
For your reference, FDIC Financial Institution Letters may be accessed from the FDIC's Web site at .

For more information, please contact Mindy West, Examination Specialist in the FDIC's Division of Supervision and Consumer Protection, at 202-898-7221 or Susan van den Toorn in the FDIC's Legal Division at 202-898-8707.

Michael J. Zamorski

Attachment: Dec. 27, 2002, Federal Register, pages 79271-79275

Distribution: All Insured Depository Institutions

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342, option 5, or (703) 562-2200).

Last Updated 4/12/2004

Last Updated: January 14, 2003