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FINANCIAL INSTITUTION LETTER | AUGUST 10, 2026 |
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Revised Procedures for Processing Federal Deposit Insurance Applications |
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Summary:
The Federal Deposit Insurance Corporation (FDIC) recognizes the importance of processing federal deposit insurance (FDI) applications on a timely basis to help promote the vitality of the banking industry and meet the credit, deposit, and other financial services needs of communities across the United States. Accordingly, the FDIC is reforming its procedures for processing FDI applications by adopting a two-phase approach, whereby the FDIC will provide applicants that satisfy the relevant requirements: (1) a contingent authorization within 120 days of receiving an FDI application; and (2) an approval within the subsequent 12 months, following the receipt of additional application information and completion of the organizational phase. When the applicant provides notification that the institution is ready to open, the FDIC would then affirm that all pre-opening conditions have been met. The FDIC expects that, with some exceptions, applicants will generally be able to file applications concurrently with both the FDIC and the chartering authority, and the FDIC will coordinate with the chartering authority throughout the application process to promote efficiency, avoid duplication, and ensure timely action.
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Statement of Applicability:
The contents of, and material referenced in, this FIL apply to proposed insured depository institutions.
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Distribution:
The contents of, and material referenced in, this FIL apply to proposed insured depository institutions.
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