The Federal Deposit Insurance Corporation has revised its procedures for federal deposit insurance applications, introducing a two-phase review for all applications received after August 15, 2026. For applicants that satisfy the relevant requirements, the agency will target contingent authorization within 120 calendar days of receipt, followed by final approval and a deposit insurance order within a subsequent organizational phase of up to 12 months. During the first phase, the FDIC will assess the proposed institution’s business plan, three-year financial projections, ownership and capital plans, management, outsourcing arrangements and related regulatory applications. The second phase will focus on completing the capital raise and organizational arrangements, identifying remaining directors and executives, and finalizing contracts, locations, risk management controls and compliance frameworks. The phase may conclude in less than 12 months depending on the application. Applicants will generally be able to file concurrently with the FDIC and the relevant chartering authority. The agencies will coordinate reviews, information requests, interviews and the pre-opening examination where possible. Once an approved institution notifies the FDIC that it is ready to open, the agency will confirm that all pre-opening conditions have been met and issue a deposit insurance certificate.
Federal Deposit Insurance Corporation2026-08-10
Federal Deposit Insurance Corporation adopts two-phase deposit insurance application process, targeting contingent authorization within 120 days and approval within a further 12 months
The Federal Deposit Insurance Corporation will use a two-phase process for deposit insurance applications received after August 15, 2026. It will target contingent authorization within 120 days and final approval within a further 12 months while applicants complete organizational requirements. The FDIC will coordinate with chartering authorities and generally permit concurrent filings.