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Summary:

�౦��Ϸ���� is seeking public comment on a procedures manual developed to assist �౦��Ϸ���� 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.

Highlights:

• 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 �౦��Ϸ����, and its release extends the �౦��Ϸ����'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 �౦��Ϸ���� is seeking comment on the extent to which the manual contributes to organizers' understanding of the �౦��Ϸ����'s processing of applications for deposit insurance.
• The 60-day comment period ends on September 8, 2017. Comments should be submitted to manualcomments@fdic.gov.
• Additional resources are available on the �౦��Ϸ���� website dedicated to applications for deposit insurance.

Distribution:

• �౦��Ϸ����-Insured Depository Institutions

Suggested Routing:

• Chief Executive Officer
• Chief Financial Officer

Note:

�౦��Ϸ���� financial institution letters (FILs) may be accessed from the �౦��Ϸ����'s Web site at /news/financial-institution-letters/2017/

To receive FILs electronically, please visit /about/subscriptions/fil.html.

Paper copies of �౦��Ϸ���� financial institution letters may be obtained through the �౦��Ϸ����'s Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).