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FDIC Amends Branch Application Requirements Regarding Historic Preservation and Environmental Policy

December 14, 2020 / Source: FDIC

Financial Institution Letter

December 14, 2020  |  FIL-112-2020

Summary:

At the October 20 Board meeting, the FDIC Board of Directors approved amendments to Part 303 of the FDIC Rules and Regulations with respect to requirements concerning compliance with the National Historic Preservation Act of 1966 (NHPA) and the National Environmental Policy Act of 1969 (NEPA). Under the rules as amended, statements regarding compliance with the NHPA and the NEPA will no longer be required for FDIC-supervised insured depository institutions in connection with branch applications or applications for deposit insurance subject to Part 303.

Statement of Applicability: This Financial Institution Letter applies to all FDIC-supervised institutions filing branch applications and applicants for deposit insurance subject to Part 303.

Highlights:

  • The final rule was adopted without any changes from the notice of proposed rulemaking published on July 10, 2020.
  • The final rule makes the FDIC’s application procedures consistent with the Office of the Comptroller of the Currency’s procedures for national banks and the Board of Governors of the Federal Reserve System’s procedures for state member banks.
  • The FDIC will update its processes and procedures to reflect the changes.
  • The final rule is effective for branch or deposit insurance applications subject to Part 303 received on or after December 14, 2020.

Federal Register Notice - Branch Application Procedures

Distribution:

All FDIC-insured institutions

Suggested Routing:

Chief Executive Officer

Related Topics:

Bank Application Resources