Federal Deposit Insurance Corporation
550 17th Street NW, Washington, DC 20429 Division of Supervision
MINORITY DEPOSITORY INSTITUTIONS
FIL-34-2002
April 22, 2002
TO: CHIEF EXECUTIVE OFFICER
SUBJECT: FDIC Adopts Final Policy Statement on Minority Depository Institutions
The Federal Deposit Insurance Corporation (FDIC) has adopted the attached final Policy
Statement Regarding Minority Depository Institutions. This action follows publication of a
proposed policy statement in the Federal Register on January 2, 2002. Public comments were
accepted on the proposal through March 4, 2002.
The attached final policy statement is substantially similar to the proposal. However, the
definition of "minority depository institution" has been broadened to include more institutions that
may benefit from the FDIC's Minority Depository Institutions Program. The final policy statement
improves interagency coordination, enhances communication between the FDIC and minority
depository institutions, creates new opportunities to provide technical assistance to these
institutions, and updates guidance related to failing minority depository institutions.
Section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989
requires the Secretary of the Treasury to consult with the Director of the Office of Thrift
Supervision and the Chairperson of the FDIC Board of Directors to determine the best methods
for preserving and encouraging minority ownership of depository institutions. On April 3, 1990,
the FDIC Board adopted a Policy Statement on Encouragement and Preservation of Minority
Ownership of Financial Institutions. The attached final policy statement supersedes the policy
statement issued in 1990.
The FDIC has created a page on its Web site dedicated to issues, programs and other
information relevant to minority depository institutions. To visit the Web page, go
to http://www.fdic.gov/regulations/resources/minority/index.html.
For more information about the final policy statement, please contact Brett A. McCallister,
Review Examiner in the FDIC's Division of Supervision, at (202) 898-3803.
Michael J. Zamorski
Director
Attachment: Federal Register, page 18618-18621
HTML or PDF (30 KB File - PDF Help or Hard Copy)
Distribution: FDIC-Insured 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).Inactive
550 17th Street NW, Washington, DC 20429 Division of Supervision
MINORITY DEPOSITORY INSTITUTIONS
FIL-34-2002
April 22, 2002
TO: CHIEF EXECUTIVE OFFICER
SUBJECT: FDIC Adopts Final Policy Statement on Minority Depository Institutions
The Federal Deposit Insurance Corporation (FDIC) has adopted the attached final Policy
Statement Regarding Minority Depository Institutions. This action follows publication of a
proposed policy statement in the Federal Register on January 2, 2002. Public comments were
accepted on the proposal through March 4, 2002.
The attached final policy statement is substantially similar to the proposal. However, the
definition of "minority depository institution" has been broadened to include more institutions that
may benefit from the FDIC's Minority Depository Institutions Program. The final policy statement
improves interagency coordination, enhances communication between the FDIC and minority
depository institutions, creates new opportunities to provide technical assistance to these
institutions, and updates guidance related to failing minority depository institutions.
Section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989
requires the Secretary of the Treasury to consult with the Director of the Office of Thrift
Supervision and the Chairperson of the FDIC Board of Directors to determine the best methods
for preserving and encouraging minority ownership of depository institutions. On April 3, 1990,
the FDIC Board adopted a Policy Statement on Encouragement and Preservation of Minority
Ownership of Financial Institutions. The attached final policy statement supersedes the policy
statement issued in 1990.
The FDIC has created a page on its Web site dedicated to issues, programs and other
information relevant to minority depository institutions. To visit the Web page, go
to http://www.fdic.gov/regulations/resources/minority/index.html.
For more information about the final policy statement, please contact Brett A. McCallister,
Review Examiner in the FDIC's Division of Supervision, at (202) 898-3803.
Michael J. Zamorski
Director
Attachment: Federal Register, page 18618-18621
HTML or PDF (30 KB File - PDF Help or Hard Copy)
Distribution: FDIC-Insured 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).Inactive