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the insured bank is located. The appropriate form of application and instructions for completing the form may be obtained upon request from the office of said Regional Director.
(c) Merger, consolidation, asset acquisition or assumption transaction between insured banks. Application by an insured bank for the consent of the Corporation to merge or consolidate with, acquire the assets of, or assume the liability to pay any deposits made in, another insured bank-when the resulting or assuming bank is to be an insured State nonmember bank (except District bank)-together with copies of all agreements or proposed agreements relating thereto, including the charter or articles of incorporation of the resulting or assuming bank, should be filed with the Regional Director of the Federal Deposit Insurance Corporation Region in which the resulting or assuming bank is located. The appropriate form of application and instructions for completing the same may be obtained upon request from the office of said Regional Director. (32 FR 10556, July 19, 1967, as amended at 36 FR 1248, Jan. 27, 1971)
continue or to resume its status as an insured bank should be filed with the Regional Director of the Federal Deposit Insurance Corporation Region in which the bank is located. Such application should (a) be in writing, (b) be signed by the president, or cashier, or other managing officer of the bank, (c) be accompanied by a certified copy of the resolution of its board of directors authorizing the submission of such application, (d) contain a statement that the bank's insured status has been terminated (including the date thereof and the basis therefor), that the insurance of its deposits has not ceased, and that it applies for permission to continue or resume its status as an insured bank, and (e) state the reasons why the continuance or resumption of such status should be permitted by the Corporation. [32 FR 10556, July 19, 1967, as amended at 36 FR 1248, Jan. 27, 1971)
§ 303.6 Application by insured State non
member bank to extend its corporate
or charter powers. Application for the consent of the Corporation to the extension of the corporate or charter powers of an insured State nonmember bank (except a District bank) should be filed with the Regional Director of the Federal Deposit Insurance Corporation Region in which the bank is located. The appropriate form of application and instructions for completing the same may be obtained upon request from the Regional Director of the Region in which the application originates. (See Part 304 of this title for list of forms and instructions.)
§ 303.8 Application for exemption from or
exception to advertising requiremenis. Any application made by an insured bank under any of the provisions of Part 328 of this title should be filed with the Division of Bank Supervision of the Corporation at its principal office. Such application should (a) be in writing, (b) be signed by the president, or cashier, or other managing officer of the bank, and (c) state, in conformity with the particular provision in respect of which the application is made, the reason for the request in detail and the reason why the application should be granted. (32 FR 10556, July 19, 1967, as amended at 36 FR 1248, Jan. 27, 1971)
(32 FR 10556, July 19, 1967, as amended at 36 FR 1248, Jan. 27, 1971)
§ 303.9 Other applications.
Except as otherwise provided by rule or regulation, all applications, requests, and submittals for which no form of application has been prescribed by the Corporation should (a) be in writing, (b) be signed by the applicant or his duly authorized agent, (c) contain a statement of the applicant's interest therein, a complete and concise statement of the action requested and the reasons and facts relied upon as the basis for such requested action, and (d) be addressed to
§ 303.7 Application to continue or resume
insured status. Application under $ 327.3(c) of this title by a bank whose insured status has been terminated for permission to
the Executive Secretary of the Corpo- the Regional Director, as the case ration at the principal office of the be, shall take such action as sha Corporation. The applicant shall fur- deemed necessary or appropria nish such other pertinent information the premises. as may be required by the Corpora- (c) Opportunity to present tion. Whenever applicable, the forms With respect to any applicatior specified in Part 304 of this title Board of Directors will afford th should be used, the instructions issued plicant or other properly inter with respect thereto should be fol
persons, including Government lowed, and submission should be made cies, an opportunity to present as therein provided.
orally before its designated
sentative or representatives, eitt (32 FR 10556, July 19, 1967, as amended at 38 FR 14263, May 31, 1973)
informal conference discussions
informal presentations of evidenc 8 303.10 Procedure on applications.
(d) Notice of disposition of af
tions. Prompt notice will be gil (a) Applications for deposit insur
the grant or denial, in whole ance. With respect to applications for deposit insurance under $ 303.1, the
part, of any written application
tion, or other request of any inte Division of Bank Supervision of the Corporation will cause an investiga
person made in connection wit tion to be conducted and an examina
agency proceeding. In the ca
denial, except in affirming a tion to be made of the bank or pro
denial, or where the same is s posed bank. Thereafter, the Board of
planetsry, such notice will be a Directors, in accordance with applica
panied by a simple statement ble provisions of law, will act upon
reasons therefor. such application after considering the
(e) Opportunity to petition report of such investigation and examination, the recommendations thereon
consideration of a denied applic of the examiner and Regional Director
petition, or request. Within 15 d of the region in which the bank is or
its receipt of notice that its a will be located, the recommendations
tion, petition, or other reque: of the Division of Bank Supervision,
been denied, any applicant ma: the recommendations of the duly con
tion the Board of Directors for stituted committees with respect to
sideration of such application matters referred to them, and the
tion, or request (except an appli legal opinion of counsel for the Corpo
petition, or request already pre ration. The applicant bank will be
denied upon reconsideration) a duly advised of the Board's decision
connection therewith, may requ upon such application.
opportunity to amend its appli (b) Other applications. With respect petition, or request or to submit to all other applications, requests, or
mation in rebuttal of the denial submittals, the Board of Directors will
in writing or in the form of cause such an investigation or exami
presentation before one or more nation, or both, to be made by the
sentatives of the Corporation proper Divisions of the Corporation as
nated for that purpose. Up the Board shall deem appropriate.
filing of such petition for rece Where the application is one author
ation, the applicant shall be g ized to be approved by the Director of
days in which to amend its the Division of Bank Supervision or by
tion, petition, or request or to I a Regional Director, under $ 303.11, he
presentation to the Corpora shall cause such an investigation or
the applicant requests an opp examination, or both, to be made by
to make an oral presentation, his examining staff, as he shall deem
be advised of the date, time, pl appropriate. Upon the report of such person or persons before whe investigation and examination, and presentation shall be made. the recommendations thereon, the
(35 FR 1947, Dec. 30, 1970, as amer Board of Directors or the Director of FR 14263, May 31, 1973; 41 FR 35 the Division of Bank Supervision, or 20, 1976)
§ 303.11 Delegation of authority to act on
certain applications. (a) General. Except as provided in § 303.12, and subject to the provisions of paragraphs (b) and (c) of this section, the Board of Directors of the Federal Deposit Insurance Corporation has delegated to the Director of the Division of Bank Supervision, or, where confirmed in writing by the Director of the Division of Bank Supervi. sion, to the Regional Director of the Region in which the applicant bank is located, the authority on behalf of the Board of Directors to act on the following applications and requests from any insured State nonmember bank:
(1) Applications for the prior written consent of the Corporation to establish and operate any new teller's window, drive-in facility, or any like office, as an adjunct to a main office or a branch office (including offices not considered branches under State law), or to move its main office or any branch from one location to another;
(2) Applications for the prior written consent of the Corporation to operate temporary banking facilities as public service during conventions, State and local fairs, college registration periods, and similar occasions, as well as during emergencies, so long as such service does not exceed a period of 1 month;
(3) Applications for the prior written consent of the Corporation to issue subordinated capital debt pursuant to the provisions to $ 329.10(b)(3) of this chapter, or to reduce the amount or retire any part of its common or preferred capital stock, or retire any part of its capital notes or debentures;
(4) Application for the prior written consent of the Corporation to exercise any trust powers;
(5) Requests for extension of time, not to exceed one year on any one request relating to the same application, within which to perform acts or conditions required by prior Corporation action on bank applications, except in those circumstances where unjustified delay is due to actions of management or there is interim change of an adverse nature;
(6) Requests for approval of minor or nominal (10 percent or less of dollar
requirements where applicable) deviations from requirements prescribed by prior Corporation action.
(7) Applications for the prior written consent of the Corporation to establish and operate any new branch: Provided, however, That this authority shall extend to the approval but not to the denial of such applications.
(8) Applications for deposit insurance filed by State members banks upon withdrawal from membership in the Federal Reserve System; Provided, however, That this authority shall extend to the approval but not to the denial of such applications.
(9) Applications for “phantom" bank mergers; 2a Proviided, however, That this authority shall extend to the approval but not to the denial of such applications.
(10) Applications for deposit insurance filed by proposed State nonmember banks which are formed in connection with a "phantom" bank merger; Provided, however, That this authority shall extend to the approval but not to the denial of such applications.
(11) Applications for the suspension of the penalties contained in § 329.4(d)
FDIC's regulations (12 CFR 329.4(d)) for withdrawal of time deposits prior to maturity where a depositor has suffered a disaster-related loss in an area which has been declared a disaster area by presidential order pursuant to the Disaster Relief Act of 1974 (42 U.S.C. 5141), and the depositor furnishes proof of such loss satisfactory to the bank or an official of the bank of deposit has actual knowledge of the loss.
(b) Confirmation, limitations, and rescission. The authority delegated in paragraph (a) of this section by the Board of Directors to the Regional Director of the Region in which the applicant bank is located is subject, as to each Regional Director in each Region, to written confirmation, limitations, or subsequent rescission of any confirmation, by the Director of
2a As used in paragraph (a) (9) and (10) of this section, the term ''phantom' bank merger” applies to any merger or other transaction in the nature of a corporate reorganization which, in and of itself, would have no effect on competition.
the Division of Bank Supervision. Such written confirmation, limitations, or rescission shall be filed with the Executive Secretary of the Corporation at its offices in Washington, D.C. and at the office of the Regional Director concerned, and shall be avail. able for public inspection by interested parties.
(c) Special cases. In special cases the Director of the Division of Bank Supervision may, in writing, rescind the authority of a Regional Director to act on an application or request, and may himself act on the same. In special cases a Regional Director may, in writing, recommend that the authority to act on an application or request not be exercised by him; in such cases the authority to act on such application or request may be exercised by the Director of the Division of Bank Supervi. sion. In special cases the Director of the Division of Bank Supervision may, in writing, recommend that the authority to act on an application or request not be exercised by him; in such cases the Board of Directors will act on the application or request.
(d) Deputy Director (OperationsBranch). In the absence of the Director of Bank Supervision, all powers granted to him under the provisions of this part may be exercised instead by the Deputy Director of the Division of Bank Supervision (Operations Branch).
(e) Applications filed pursuant to section 19 of the Federal posit Insurance Act. (1) The Board of Directors of the Federal Deposit Insurance Corporation has delegated to the Corporation's Board of Review the authority on behalf of the Board of Directors to approve applications filed by insured banks with the Corporation pursuant to section 19 of the Federal Deposit Insurance Act seeking the consent of the Corporation for the employment of any director, officer, or employee who has been convicted or is hereafter convicted of any criminal offense involving dishonesty or a breach of trust. Such authority to approve includes any director, and any officer or employee who has authority to participate or may hereafter participate in policymaking functions of such in
sured bank, or has direct or in control of 5 percent or more voting rights of any class of 1 stock of such insured bank: Pro That the insured bank's primai pervisory authority interposes r jection to such application. Th thority shall extend to the api but not to the denial of such as tions. The delegation of author the Board of Review to approve cations under this subparagraph $ 303.11(e)(2) does not preclud Board of Directors from acting o application upon which the Boa Review may not wish to act. voting member of the Board of R attending the meeting at which a plication is considered may re that the application be referred t Board of Directors for its consi tion and upon receipt of such re the Board of Review shall forwar application to the Board of Dire together with its recommendatio to the disposition of such applic:
(2) The Board of Directors has gated to the Director of the Cor tion's Division of Bank Supery and where confirmed in writing b Director of the Division of Ban pervision, to the Regional Direct the Region in which the app bank is located, the authorit behalf of the Board of Directors prove requests for employment by insured banks pursuant to se 19 of the Federal Deposit Insu Act for all other employees and policymaking officers: Provided, the applicant bank's primary su sory authority offers no objecti such application. This authority extend to the approval but not t denial of such applications. The gation of authority to the Region rector to approve applications this subparagraph does not pre the Director of the Division of Supervision or the Board of R from acting on any application the Regional Director may not w approve, or upon which the Re Director may not wish to act. (35 FR 19747, Dec. 30, 1970, as amer 38 FR 4572, Feb. 16, 1973; 38 FR 1426 31, 1973; 39 FR 16230, May 8, 1974;
21044, June 18, 1974; 43 FR 9788, 9789, Mar. 10, 1978; 43 FR 48622, Oct. 19, 1978)
$ 303.12 Applications where authority is
not delegated. (a) Circumstances precluding delegation. Authority to act on applications listed in $ 303.11 is not delegated by the Board of Directors in the following circumstances:
(1) Where a condition other than one agreed to in writing by the bank, or other than a time limitation, is to be prescribed in approving an application;
(2) Where all necessary final approvals have not been obtained from the appropriate State authority. 3
(3) Notwithstanding the limitations in paragraphs (a) (1) and (2) of this section, the authority delegated in $ 303.11(a)(7) may be exercised during the period of September 22, 1976 to December 31, 1976, inclusive, with respect to branch applications of insured State nonmember banks in Florida, on the basis of notices of intent to approve branches issued by the Commissioner of Banking of the State of Florida in lieu of final approval as required by paragraph (a)(2) of this section, and in addition to those conditions referred to in paragraph (a)(1) of this section, there may be imposed a condition providing that the approving Order will not become effective until the bank has received final approval from the Commissioner of Banking of the State of Florida to establish the branch and conduct banking business at that location.
(b) Approving authority. In all cases where authority to act on applications or requests listed in this part is not delegated to the Director of the Division of Bank Supervision (or, in his absence, the Deputy Director (Operations Branch)), or to a Regional Director, the authority to act on such applications or requests remains vested in the Board of Directors of the Corporation.
(c) Conditions precedent to delegation to approve branch applications. (Important: The requirements set
forth in this paragraph (c) are procedural in nature only and should not be construed as standards or criteria which will be used in determining whether a specific application will be approved or denied.) Authority to approve branch applications pursuant to § 303.11(a)(7) is delegated only where each of the six factors set forth in section 6 of the Federal Deposit Insurance Act has been considered and favorably resolved" and, in addition, all of the following requisites have been satisfied:
(1) The applicant is in substantial compliance with the rules and regulations of the Corporation.
(2) The applicant has adequate fidelity coverage.
(3) Legal fees and other expenses incurred in connection with the proposed branch are determined to be reasonable under the standards set by the Board of Directors. 6
(4) Establishment of the proposed branch will not have a significantly adverse effect on competition in any relevant area or lead to destructive competition.
(5) In the case of a mutual or guaranty sar ings bank, the applicant's adjusted’ capital and reserves, including written commitments for additional capital funds, constitute at least 5 percent of its adjusted’ gross assets; Provided, however, That the authority to make such a determination is not delegated to any Regional Director where the applicant's adjusted capital and reserves, including written commitments
*The six factors are: (1) The financial history and condition of the applicant, (2) the adequacy of its capital structure, (3) its future earnings prospects, (4) the general character of its management, (5) the convenience and needs of the community to be served by the applicant, and (6) whether or not its corporate powers are consistent with the purposes of the Federal Deposit Insurance Act (12 U.S.C. 1816).
5Including a $1 million excess bond if primary blanket bond coverage is less than $1 million.
6 A copy of FDIC's Statement of Policy on Legal Fees and Other Expenses Incident to Applications for Insurance and Consent to Establish Branches is provided with all application forms for the consent of the FDIC to establish branches.
Based on classifications made at the last examination of the applicant.