Financial Institution Letters
December 6, 2018
FDIC Issues an Update to its Publication Entitled Applying for Deposit Insurance – A Handbook for Organizers of De Novo Institutions, Finalizes its Deposit Insurance Applications Procedures Manual, and Establishes a Designated Applications Mailbox
The FDIC issued an update to its publication entitled Applying for Deposit Insurance – A Handbook for Organizers of De Novo Institutions, and is issuing its Deposit Insurance Applications Procedures Manual in final form. The handbook, which was developed to facilitate the process of establishing new banks, was originally issued on December 22, 2016. The manual was issued for public comment on July 10, 2017, and provides comprehensive instruction to staff regarding the deposit insurance application process. The mailbox provides an additional channel for interested parties to ask questions of designated applications specialists.
Statement of Applicability to Institutions With Total Assets Under $1 Billion: This Financial Institution Letter applies to all existing and proposed insured depository institutions.
- The handbook addresses the informational needs of organizers of de novo institutions. It offers information for navigating the phases of establishing an insured institution: pre-filing activities, the application process, and pre-opening activities.
- The manual provides comprehensive instruction to staff regarding the deposit insurance application process. It addresses pre-filing activities, application review and acceptance, application processing, pre-opening activities, and post-opening considerations, among other important items.
- The handbook and manual do not establish new policy or guidance, or modify existing policy or guidance. The publications, however, provide organizers and the public with transparency and clarity about the FDIC's process for reviewing and approving applications for deposit insurance.
- The update to the handbook and finalization of the manual reflect technical edits from their prior publicly released versions, and clarifications on pertinent topics.
- The FDIC also established a designated Applications Mailbox (ApplicationsMailbox@fdic.gov) as an additional means by which bankers, applicants, and other interested parties may pose questions regarding a specific application or the application process.
- Interested parties should continue to submit comments regarding pending applications subject to the Community Reinvestment Act or other public comment through the FDIC's website (www5.fdic.gov/cra/).
- 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 (Subparts A and 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
- Questions and Answers (Q&As) Posted November 2014 and April 2016
- Applying for Deposit Insurance – A Handbook for Organizers of De Novo Institutions
- Procedures Manual on Deposit Insurance Applications
- Donald R. Hamm, Special Advisor, Division of Risk Management Supervision, firstname.lastname@example.org,
- (202) 898-3528
FDIC financial institution letters (FILs) may be accessed from the FDIC's website at www.fdic.gov/news/news/financial/2018/
To receive FILs electronically, please visit 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).