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Inactive Financial Institution Letters 


FIL-94-98
August 28, 1998 

TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Final Rule Governing Filing Procedures and Delegations of Authority, and Revised Related Policy Statements
(Part 303 of the FDIC's Rules and Regulations)

The FDIC Board of Directors has revised the agency's regulation and related policy statements that govern the filing and processing of applications submitted by insured depository institutions. The revised Part 303 of the FDIC's rules and regulations and revised policy statements, which are attached, will take effect October 1, 1998.

The revisions are designed to:

  • streamline processing for well-managed and well-capitalized institutions,
  • reduce regulatory burden,
  • remove inconsistencies and outmoded requirements, and
  • present the regulation in a user-friendly format.

The most significant feature of the revised regulation is that expedited processing will be available for most filings submitted by well-managed and well-capitalized depository institutions. An estimated 90 percent of banks supervised by the FDIC will meet the definition of an "eligible depository institution."

In addition to revising Part 303, the FDIC has adopted revised policy statements on "Applications for Deposit Insurance," "Bank Merger Transactions" and "Liability of Commonly Controlled Institutions." The FDIC has rescinded the policy statements on "Applications to Establish a Domestic Branch" and "Applications to Relocate Main Office or Branch."

For further information, please contact your regional office on the attached list.

Nicholas J. Ketcha Jr.
Director

Attachments: Federal Register Vol. 63. No. 161 Thursday, August 20, 1998, pages 44686 to 44767

Distribution: All Insured Depository Institutions

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (800-276-6003 or (703) 562-2200).

Regional Offices - FDIC Division of Supervision

Region Address Phone States Covered
Atlanta 1201 W. Peachtree St., NE Atlanta, GA 30309 (404) 817-1300 Alabama, Florida, Georgia, North Carolina, South Carolina, Virginia, West Virginia
Boston 15 Braintree Hill Office Park Braintree, MA 02184 (781) 794-5500 Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont
Chicago 500 West Monroe Street Suite 3600 Chicago, IL 60661 (312) 382-7500 Illinois, Indiana, Michigan, Ohio, Wisconsin
Dallas 1601 Bryan Street Suite 1900 Dallas, TX 75201 (972) 761-2032 Colorado, New Mexico, Oklahoma, Texas
Kansas City 2345 Grand Avenue Suite 1500 Kansas City, MO 64108 (816) 234-8000 Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota
Memphis 5100 Poplar Avenue Suite 1900 Memphis, TN 38137 (901) 685-1603 Arkansas, Kentucky, Louisiana, Mississippi, Tennessee
New York 452 Fifth Avenue 19th Floor New York, NY 10018 (212) 704-1200 Delaware, District of Columbia, Maryland, New Jersey, New York, Pennsylvania, Puerto Rico, Virgin Islands
San Francisco 25 Ecker Street Suite 2300 San Francisco, CA 94105 (415) 546-0160 Alaska, Arizona, California, Guam, Hawaii, Idaho, Montana, Nevada, Oregon, Utah, Washington, Wyoming

Last Updated 10/24/2007 communications@fdic.gov