Regulatory Alerts2026-08-10 | FIL-48-2026Added · Updated
Revised Procedures for Processing Federal Deposit Insurance Applications
The FDIC outlines a two-phase approach for processing deposit insurance applications, beginning with a 120-day contingent authorization phase requiring specific initial submissions such as business plans, financial projections, and biographical reports. The subsequent organizational phase extends up to 12 months from contingent authorization, mandating the provision of final organizational documents, employment agreements, and risk management policies. The process concludes with final approval items, including a pre-opening examination scheduled 30 days before the institution's proposed opening, followed by the issuance of a deposit insurance certificate.
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