FDIC Releases Final Handbook for De Novo Organizers Applying for Deposit Insurance — 2017-05-01

The Federal Deposit Insurance Corporation (FDIC) today released a final handbook to assist parties interested in establishing new banks. As part of the FDIC’s ongoing commitment to work with organizers, the handbook – Applying for Deposit Insurance – A Handbook for Organizers of De Novo Institutions – was designed to provide a plain language overview of the requirements and considerations significant to the application process, and to provide organizers a clear and transparent explanation of the path to obtaining deposit insurance. “In welcoming applications for deposit insurance, the FDIC wants to ensure applicants are well informed about the FDIC’s application processes, and are aware of the tools and resources available to assist in developing an application,” FDIC Chairman Martin J. Gruenberg said. The handbook offers guidance for navigating the three phases of establishing an insured institution: pre-filing activities, the application process, and pre-opening activities.