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Summary:

The �౦��Ϸ���� has released a supplement to its Deposit Insurance Application Procedures Manual (Procedures Manual) that addresses deposit insurance applications involving unique or complex proposals. The �౦��Ϸ���� 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.

Highlights:

• The supplement addresses matters relevant to deposit insurance proposals from applicants that are not traditional community banks. It includes definitions of the terms "non-bank" and "non-community bank," and addresses the following main topics: application review processes, field investigations, evaluation of the statutory factors, approval conditions, and written agreements. The supplement does not establish new policy or guidance, or modify existing policy or guidance.
• The �౦��Ϸ���� has also updated the Procedures Manual, which provides instruction to �౦��Ϸ���� staff regarding the deposit insurance application process, and the Handbook, which addresses the informational needs of organizers of de novo institutions.
  • These publications address matters pertinent to all types of deposit insurance applications, including pre-filing activities, the application process, and pre-opening efforts.
  • The updates to the Procedures Manual and the Handbook primarily represent technical edits and clarifications.
  • In response to industry feedback, the �౦��Ϸ���� has modified its commonly imposed conditions requiring prior approval of business plan changes, to instead require prior notice in most cases.
• These publications are intended to provide transparency and clarity to the industry and other interested parties regarding the �౦��Ϸ����'s deposit insurance application processes.
• Information regarding deposit insurance applications matters that was clarified in previously issued FILs has been incorporated, as appropriate, into the supplement, the Procedures Manual, and the Handbook; as such, FILs 51-2019, 24-2016, and 56-2014 are hereby rescinded.
• The �౦��Ϸ����'s Applications Mailbox ( ApplicationsMailbox@fdic.gov ) is 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 through the .

Suggested Distribution:

�౦��Ϸ����-Supervised Institutions

Suggested Routing:

Chief Executive Officer 
Chief Financial Officer

Paper copies of �౦��Ϸ���� FILs 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).