United States:
FDIC Publishes Procedures Manual For Evaluating Deposit Insurance Applications
20 July 2017
Cadwalader, Wickersham & Taft LLP
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The FDIC published
a
manual for FDIC employees that provides guidance on processing
and evaluating deposit insurance applications.
The Deposit Insurance Applications Procedures Manual
(the "Manual") includes information regarding every step
of the application process. Areas covered by the Manual include
pre-filing activity, application review, and pre-opening and
post-opening considerations.
The Manual is part of a broader effort by the FDIC to improve
the transparency of its application process. Release of the Manual
follows that of a handbook in May 2017, titled Applying
for Deposit Insurance: A Handbook for Organizers of De Novo
Institutions, that contains information for prospective
applicants. Additional resources are available in the section
of the FDIC website titled "Applications for Deposit
Insurance."
Comments on the Manual must be received by September 8,
2017.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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