Organizers Of De Novo Financial Institutions
Financial Institution Letter FIL-81-2016
The FDIC is seeking comment on a handbook developed to facilitate the process of establishing new banks.
Applying for Deposit Insurance – A Handbook for Organizers of De Novo Institutions provides an overview of the business considerations and statutory requirements that de novo organizers will face as they work to establish a new depository institution and apply for deposit insurance. It offers guidance for navigating three phases of establishing an insured institution: pre-filing activities, the application process, and pre-opening activities.
This Financial Institution Letter applies to all proposed insured depository institutions. The amount of filings for De Novo institutions had decreased and this proposed handbook is proposed guidance for those clients and friends wishing to form a financial institution.