12 CFR 303.247 - Continue or resume status as an insured institution following termination under section 8 of the FDI Act.

§ 303.247 Continue or resume status as an insured institution following termination under section 8 of the FDI Act.

(a)Scope. This section relates to an application by a depository institution whose insured status has been terminated under section 8 of the FDI Act ( 12 U.S.C. 1818) for permission to continue or resume its status as an insured depository institution. This section covers institutions whose deposit insurance continues in effect for any purpose or for any length of time under the terms of an FDIC order terminating deposit insurance, but does not cover operating non-insured depository institutions which were previously insured by the FDIC, or any non-insured, non-operating depository institution whose charter has not been surrendered or revoked.

(b)Where to file. Applicants shall submit a letter application to the appropriate FDIC office.

(c)Content of filing. The filing shall contain the following information:

(1) A complete statement of the action requested, all relevant facts, and the reason for such requested action; and

(2) A certified copy of the resolution of the depository institution's board of directors authorizing submission of the filing.

(d)Additional information. The FDIC may request additional information at any time during processing of the filing.

(e)Processing. The FDIC will provide the applicant with written notification of the final action as soon as the decision is rendered.

[ 67 FR 79247, Dec. 27, 2002. Redesignated at 71 FR 20526, Apr. 21, 2006]

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

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United States Code

Title 12 published on 11-May-2018 11:44

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR Part 303 after this date.

  • 2018-04-24; vol. 83 # 79 - Tuesday, April 24, 2018
    1. 83 FR 17737 - Regulatory Capital Rules: Removal of Certain Capital Rules That Are No Longer Effective Following the Implementation of the Revised Capital Rules
      GPO FDSys XML | Text
      Final rule.
      The final rule is effective April 24, 2018.
      12 CFR Parts 303, 308, 324, 325, 327, 333, 337, 347, 349, 360, 362, 363, 364, 365, and 390