The FDIC updated supplemental Q&As on the deposit insurance application process for new insured depository institutions.
The FDIC clarified that:
- applicants do not need to identify the specific physical location of the proposed institution's main office, although the application should describe the anticipated location; and
- the proposed CEO must be identified, whereas other senior executive officer candidates may be noted after the formal application is submitted.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
