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Financial Institution Letters

Delivery of Financial Institution Letters
Electronic Distribution to Become Primary Method
FIL-14-2006
February 13, 2006


Summary: On April 1, 2006, the FDIC will begin using the electronic delivery of Financial Institution Letters (FILs) Ė through its free online subscription service Ė as its primary method of distribution. Institutions that are unable to receive FILs electronically must complete and return a paper-delivery request form to the FDIC by March 24, 2006.

Highlights:
    The FDIC will switch from delivering paper FILs by mail to delivering FILs electronically as its primary manner of distribution beginning on April 1.

    FIL distribution through the FDICís electronic subscription service provides a number of benefits, including:

  • An immediate e-mail notification that a FIL has been issued. There is no need for routine manual checks of the FDICís Web site (fdic.gov) for FILs that have been issued.
  • The immediate availability of the FIL. Through the traditional mail system, receipt of the paper copy typically takes a week or longer.
  • The easy retrieval of the FIL. No user ID or password is required.
  • The availability for multiple registrants from the same institution to receive FILs.


  • Many institutions already subscribe to receive FILs through the FDICís electronic subscription service at http://www.fdic.gov/about/subscriptions/index.html. Those not yet subscribing are encouraged to do so immediately.

Distribution:
All Insured Banks and Savings Associations

Suggested Routing:
Chief Executive Officer
Executive Officers

Related Topics:
Presidentís Management Agenda
Government Paperwork Elimination Act

Attachment:
Paper-Delivery Request Form 24k (PDF Help)

Contact:
Gina O. Luckenbill
Information Management Analyst
GLuckenbill@fdic.gov
(202) 898-3848

Printable Format:
FIL-14-2006 - PDF 56k (PDF Help)

Note:
FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2006/index.html.

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.

Paper copies of FDIC FILs may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342 or (703) 562-2200).




Financial Institution Letters
FIL-14-2006
February 13, 2006

Delivery of Financial Institution Letters
Electronic Distribution to Become Primary Method

Beginning April 1, 2006, the Federal Deposit Insurance Corporation (FDIC) will change its primary method of distributing Financial Institution Letters (FILs) from paper-copy delivery through the U.S. Postal Service to electronic delivery through the FDICís free online subscription service. The change is expected to provide institutions with a number of benefits, including:

  • An immediate e-mail notification that a FIL has been issued. There is no need for routine manual checks of the FDICís Web site (fdic.gov) for FILs that have been issued.
  • The immediate availability of the FIL. Through the traditional mail system, receipt of the paper copy typically takes a week or longer.
  • The easy retrieval of the FIL. No user ID or password is required.
  • The availability for multiple registrants from the same institution to receive FILs.
In addition to providing these benefits to the banking industry, the change to electronic delivery reaffirms the FDICís commitment to:
  • Comply with the Government Paperwork Elimination Act of 1998 (GPEA);
  • Address President Bushís Management Agenda, which directs government agencies to establish electronic alternatives to current paper processes where feasible; and
  • Provide increased customer service to FDIC-insured institutions by improving communications.
The FDIC encourages institutions to register for its online subscription service immediately to ensure that there is no disruption in receiving the important information contained in FILs. This registration requires a user to enter just seven pieces of information. Once registered, the user will receive an e-mail notification every time a new FIL is issued.

In addition to electing to receive FILs, a registered user can elect to receive other free information, such as:
  • Bank Data and Statistics
  • Bank/Regulatory Policy
  • Consumer Information
  • Corporate Plans and Reports
  • Failed Bank Information
  • News and Events
  • Research and Analysis
To register for the online subscription service, go to http://www.fdic.gov/about/subscriptions/index.html.

To guarantee that the FIL notification e-mails are received, institutions should ensure that their network spam filters are set to accept all e-mails from fdic.gov.

Institutions without Internet access may request to continue receiving FILs through the mail by completing the attached paper-delivery request form and faxing it to the FDIC at (703) 465-4314. To ensure that no disruption in delivery occurs, this form must be submitted to the FDIC by March 24, 2006.

To view previously issued FILs, go to http://www.fdic.gov/news/news/financial/index.html.

For more information, please contact Gina Luckenbill, Information Management Analyst, Division of Supervision and Consumer Protection, at (202) 898-3848 (e-mail, GLuckenbill@fdic.gov).

  Christopher J. Spoth
Acting Director
Division of Supervision and Consumer Protection




Last Updated 02/13/2006 communications@fdic.gov