Revised Procedures for Processing Federal Deposit Insurance Applications
August 10, 2026 / Source: FDIC
Summary:
The Federal Deposit Insurance Corporation (FDIC) recognizes the importance of processing federal deposit insurance (FDI) applications on a timely basis to help promote the vitality of the banking industry and meet the credit, deposit, and other financial services needs of communities across the United States. Accordingly, the FDIC is reforming its procedures for processing FDI applications by adopting a two-phase approach, whereby the FDIC will provide applicants that satisfy the relevant requirements: (1) a contingent authorization within 120 days of receiving an FDI application; and (2) an approval within the subsequent 12 months, following the receipt of additional application information and completion of the organizational phase. When the applicant provides notification that the institution is ready to open, the FDIC would then affirm that all pre-opening conditions have been met. The FDIC expects that, with some exceptions, applicants will generally be able to file applications concurrently with both the FDIC and the chartering authority, and the FDIC will coordinate with the chartering authority throughout the application process to promote efficiency, avoid duplication, and ensure timely action.
Statement of Applicability: The contents of, and material referenced in, this FIL apply to proposed insured depository institutions.
Highlights:
- The FDIC welcomes applications from all types of proposed insured depository institutions that can present a viable business plan that is consistent with favorable resolution of the statutory factors, as enumerated in Section 6 of the Federal Deposit Insurance Act.
- In order to more efficiently and expeditiously complete the application process, the FDIC is implementing a new two-phase approach to reviewing FDI applications.
- Phase 1 of the new approach begins as soon as an FDI application is received and spans 120 days with the goal of the FDIC issuing a contingent authorization at the end of that period.
- Phase 2 immediately follows Phase 1 and spans up to 12 months with the goal of the FDIC issuing an approval, including issuance of an FDI Order.
- During Phase 2, the organizers are expected to complete all necessary organizational steps within 12 months of receiving a contingent authorization.
- Phase 2 may occur more quickly than the allotted 12-month period depending on the facts and circumstances of the application.
- The Attachment to this FIL summarizes the timeline and key activities that occur during each of the two phases of the FDI application process, including the timing for submitting certain expected application content.
- The FDIC is committed to ensuring a timely and effective application process, and FDIC staff is readily available to meet with organizers and answer questions at any stage of the process.
- The two-phase approach will be used for all FDI applications received after August 15, 2026.
FIL-48-2026