FDIC Issues Procedures for Deposit Insurance Applications from Applicants that are Not Traditional Community Banks
Summary:
The FDIC has released a supplement to its Deposit Insurance Application Procedures Manual (Procedures Manual) that addresses deposit insurance applications involving unique or complex proposals. The FDIC has also released updated versions of the Procedures Manual and the publication titled Applying for Deposit Insurance – A Handbook for Organizers of De Novo Institutions (Handbook). Collectively, these publications comprehensively address the deposit insurance application process.
Statement of Applicability to Institutions with Total Assets Under $1 Billion:
This Financial Institution Letter applies to all existing and proposed insured depository institutions.
Distribution:
FDIC-Insured Institutions
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