FDIC, citing transparency, begins to post applications procedures manual online

Sections of the applications procedures manual that staff at the Federal Deposit Insurance Corp. (FDIC) use to review and process filings have been posted to the agency’s website and are publicly available there. The agency says this is the first in a series of releases as the FDIC, to promote transparency, works to put the complete manual online.

“The public release of the manual on FDIC.gov is intended to provide the banking industry and any other interested parties with transparency and clarity regarding the FDIC’s filing related processes,” the FDIC said in a Financial Institution Letter (FIL) issued Wednesday.

The initial release includes an Applications Overview section that addresses processing timeframes, filing receipt and acknowledgment, filing acceptance, review and evaluation of filing content, document preparation, delegations of authority, and other pertinent topics that are generally applicable to most types of filings, the agency stated in FIL-38-2019. The release also contains separate sections covering certain specific filing types, including federal deposit insurance, mergers, change in control, branch establishment, branch relocation, and branch closings.

“The manual provides direction for professional staff assigned to review and process applications, notices, and other requests (collectively, filings) submitted to the FDIC,” the agency said. “This is the first in a series of releases that will comprise the complete manual, and each subsequent release will include multiple sections governing specific filing types.”

The FDIC noted that the manual provides comprehensive instruction to the FDIC’s professional staff for reviewing and processing filings. “The manual does not establish supervisory requirements and is not industry guidance,” it stated.

The manual will be updated periodically for changes in laws, regulations, or processes, the agency said.


Applications Procedures Manual