Financial Institution Letters
July 10, 2017
FDIC Seeks Comment on Manual for Processing Deposit Insurance Applications
FDIC is seeking public comment on a procedures manual developed to assist FDIC staff as they evaluate and process deposit insurance applications.
Statement of Applicability to Institutions with Less Than $1 Billion in Total Assets: This Financial Institution Letter applies to all proposed insured depository institutions.
- The manual provides comprehensive guidance to staff regarding the deposit insurance application process.
- Topics addressed include pre filing activities, application review and acceptance, application processing, pre opening activities, and post opening considerations, among other important items.
- Public issuance of the manual will provide transparency and benefit applicants and other interested parties by further clarifying the path to establishing a de novo institution.
- The content of the manual complements other resources available from the FDIC, and its release extends the FDIC's efforts to work with any group interested in organizing a de novo institution.
- The manual does not supersede any existing statutes, rules, or regulations applicable to the application process or newly formed institutions.
- The FDIC is seeking comment on the extent to which the manual contributes to organizers' understanding of the FDIC's processing of applications for deposit insurance.
- The 60-day comment period ends on September 8, 2017. Comments should be submitted to firstname.lastname@example.org.
- Additional resources are available on the FDIC website dedicated to applications for deposit insurance.
- FDIC-Insured Depository Institutions
- Chief Executive Officer
- Chief Financial Officer
- 12 CFR Part 303 (Subpart A and Subpart B)
- FDIC Statement of Policy on Applications for Deposit Insurance - Effective October 1, 1998
- Guidance Related to the FDIC Statement of Policy on Applications for Deposit Insurance - November 2014
- Supplemental Guidance Related to the FDIC Statement of Policy on Applications for Deposit Insurance - April 2016
- Applying for Deposit Insurance – A Handbook for Organizers of De Novo Institutions
- Donald R. Hamm, Special Advisor, Division of Risk Management Supervision, (202) 898-3528
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at https://www.fdic.gov/news/news/financial/2017/
To receive FILs electronically, please visit https://www.fdic.gov/about/subscriptions/fil.html.
Paper copies of FDIC financial institution letters 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).