Bank Application Resources - Golden Parachute and Indemnification Payments
Provided below are resources that should be helpful for a party considering or pursuing an application to enter into an agreement that provides for, or to make, a golden parachute payment. The resources include appropriate references to the Federal Deposit Insurance Act and the FDIC Rules and Regulations, along with links to relevant policy statements, guidance, and available forms.
Contact the appropriate FDIC Regional Office:
- For any questions or inquiries
- Prior to submitting an application that involves unique or unusual circumstances
Resources Specific to Applications for Golden Parachutes and the Application Process
Laws and Regulations
- Section 18(k) of the FDI Act - Authority to Regulate or Prohibit Certain Forms of Benefits to IAPs
- Part 359 of the FDIC's Rules and Regulations - Golden Parachute and Indemnification Payments
- Part 303 Subpart M; Section 303.244 of the FDIC's Rules and Regulations - Golden Parachute and Severance Plan Payment
- Interagency Statement of Policy- Guidance on Sound Incentive Compensation Policies
- Financial Institution Letter 66-2010- Guidance on Golden Parachute Payments
Other Resources
Resources for Organizers and Proposed Directors and Officers
Last Updated 06/14/2023