Summary
On June 1, 2006, the FDIC will begin using the electronic delivery of Special Alerts (SAs) – through its free secure Web site, FDICconnect – as its primary method of distribution to insured financial institutions. Institutions that are unable to receive SAs electronically must complete and return the attached paper-delivery request form to the FDIC by May 15, 2006.
Highlights
- An immediate e-mail notification that an SA has been issued. There is no need for routine manual checks of FDICconnect to determine whether a new SA has been issued.
- The immediate availability of the SA. Through the traditional mail system, receipt of the paper copy typically takes a week or longer.
- Secure transmission of the SA attachments, which are often confidential, such as electronic copies of fraudulent and genuine instruments.
- The availability for multiple registrants from the same institution to receive SAs.
- Those institutions that are not yet registered are encouraged to do so immediately using the instructions contained in this FIL.
Continuation of FIL-32-2006
Distribution
All Insured Banks and Savings Associations
Suggested Routing
Chief Executive Officer
Executive Officers
Note
FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/financial-institution-letters/2006/index.html.
To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.
Paper copies of FDIC FILs may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342 or (703) 562-2200).
Additional Related Topics
President's Management Agenda
Government Paperwork Elimination Act
Designated Coordinator Registration Form
Delivery of Special Alerts
Electronic Distribution to Become Primary Method
Beginning June 1, 2006, the Federal Deposit Insurance Corporation (FDIC) will change its primary method of distributing Special Alerts (SAs) to insured financial institutions from paper-copy delivery through the U.S. Postal Service to electronic delivery through the FDIC's free secure Web site, FDICconnect. The change is expected to provide institutions with a number of benefits, including:
- An immediate e-mail notification that a SA has been issued. There will be no need for routine manual checks of FDICconnect to determine whether a new SA has been issued.
- The immediate availability of the SA. Through the traditional mail system, receipt of the paper copy typically takes a week or longer.
- Secure transmission of the SA attachments, which are often electronic copies of fraudulent and genuine instruments.
- The availability for multiple registrants from the same institution to receive SAs.
In addition to providing these benefits to the banking industry, the change to electronic delivery reaffirms the FDIC's commitment to:
- Comply with the Government Paperwork Elimination Act of 1998 (GPEA);
- Address President Bush's Management Agenda, which directs government agencies to establish electronic alternatives to current paper processes where feasible; and
- Provide increased customer service to FDIC-insured institutions by improving communications.
Approximately 45 percent of insured institutions already subscribe to receive SAs through FDICconnect. The FDIC is encouraging institutions that have not yet registered for FDICconnect to do so as soon as possible so that they may benefit from the opportunities the system provides. Attached is an overview of the FDICconnect registration process, which includes instructions for registration, and a FDICconnect Designated Coordinator Registration Form, which includes instructions for approving and submitting the form.
In addition to receiving SAs, there are other business transactions that institutions may wish to use. A complete list of available transactions is attached.
To guarantee that the SA notification e-mails are received, institutions should ensure that their network spam filters are set to accept all e-mails from fdic.gov.
Institutions without Internet access may request to continue receiving SAs through the mail by completing the attached paper-delivery request form and faxing it to the FDIC at (703) 465-4314. To ensure that no disruption in delivery occurs, this form must be submitted to the FDIC by May 15, 2006.
The FDIC also offers electronic distribution of SAs through its online subscription service. Since this service is not secure, confidential SA attachments of fraudulent and genuine instruments are not included. To decrease the number of unnecessary e-mails, institution users of this on-line subscription service may wish to discontinue receiving SAs through this mechanism. Discontinuing the receipt of SAs through the FDIC's online subscription service will not disrupt the receipt of other important information. To change your user profile on the FDIC's online subscription service, access the following URL: http://www.fdic.gov/about/subscriptions/profile_intro.html.
For more information, please contact Gina Luckenbill, Information Management Analyst, Division of Supervision and Consumer Protection, at (202) 898-3848 (e-mail, GLuckenbill@fdic.gov).
Sandra L. Thompson
Acting Director
Division of Supervision and Consumer Protection