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Financial Institution Letters
FDICconnect Registration Process Overview and Registration Instructions Designated Coordinators (DC) and Users
There are two different types of bank access:
The FDIC must approve all Coordinator requests, but the FDIC plays no role in user access approval.
Coordinator Registration Process
The FDIC encourages all financial institutions that have not yet registered to use FDICconnect to do so by completing the attached Designated Coordinator (DC) Registration Form. (Please note that while an institution may have provided its Summary of Deposits or participated in a post-exam survey using FDICconnect, it may not yet have registered for continued access to the system.) This registration, by requiring the signature of an Executive Officer of the financial institution, assures that each institution’s management is aware of the principal person on their staff who “speaks for the institution” using FDICconnect. More details about the Coordinator’s responsibility are provided below. At your earliest possible convenience, please fax the completed form to (703) 465-4313.
Since the FDIC will rely on the actions taken by the Coordinator and those users who are given access to various transactions by the Coordinator, it is important that the institution choose the Coordinator carefully and that controls be implemented to address operational risks inherent in online transactions. When a Coordinator is assigned, FDICconnect staff will provide that individual with technical guidance for using FDICconnect.
After completing the registration process, the 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.
The steps below indicate the recommended and preferred registration steps and order:
Once a coordinator is approved, they may grant access to other bank users. The following outlines this process:
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