Expedited processing for eligible depository institutions.
Expedited processing for eligible depository institutions. An application filed under this subpart by an eligible depository institution as defined in 303.2(r) will be acknowledged in writing by the FDIC and will receive expedited processing, unless the applicant is notified in writing to the contrary and provided with the basis for that decision. The FDIC may remove an application from expedited processing for any of the reasons set forth in 303.11(c)(2). Absent such removal, an application processed under expedited processing will be deemed approved on the latest of the following: