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This Document Has Been Retired.
Enhanced Supervisory Procedures for Newly Insured FDIC-Supervised Depository Institutions
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08/28/2009
[PDF-42.21 KB]
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Description:The FDIC is advising the banking industry of supervisory changes for state nonmember institutions insured seven years or less (de novo period). Under current policy, newly insured institutions are subject to higher capital requirements and more frequent examination activities during the first three years of operation. Based on supervisory experience, the FDIC will now extend the de novo period from the current three-year period to seven years for examinations, capital, and other requirements. In addition, material changes in business plans for newly insured institutions will require prior FDIC approval during the first seven years of operation.
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Subject:
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Dataset Download URL:fdic.gov/news/inactive-financial-institution-letters/2009/fil09050.pdf
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Format:
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Release Date:08/28/2009
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Update Date:08/28/2009
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Withdrawn Date:Not Available
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Agencies Involved:Federal Deposit Insurance Corporation (FDIC)
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Fdic Employee Involved:Sandra L. Thompson;Melinda West;Lisa D. Arquette;
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Law Involved:Community Reinvestment Act (CRA)
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Source:FDIC Website
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Memorandum To:FDIC-Supervised Institutions
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FIL Number:FIL-50-2009
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