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Financial Institution Letter

Submitting Examination Data Institutions will be Able to Securely Exchange Electronic Examination Information with their State Regulator using FDICconnect

Summary: Starting July 9, 2007, the FDIC will provide participating state bank regulators access to the FDICconnect Examination File Exchange system. The FDIC encourages insured financial institutions to use the system to quickly and securely transmit examination information to the FDIC and/or their state banking regulator.


 

Highlights: 
 

  • With the enhancements to FDICconnect in July 2007, institutions will be able to securely exchange electronic pre-examination and examination files with the FDIC and/or their state banking regulator. This service will be available to all FDIC-insured institutions.
  • The FDIC encourages all institutions to take advantage of this system when contacted by the FDIC and/or a state banking regulator for information before or during an examination.
  • The FDIC provides technical and instructional support for bankers using FDICconnect. Please contact the FDICconnect Help Desk by calling toll-free 1-877-275-3342 (select options 1 for English, 1 for financial institutions, and 5 for the Help Desk) or sending an e-mail to FDICconnect@fdic.gov .

 

Continuation of FIL-53-2007 

Distribution: 
All Insured Financial Institutions

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/2007/index.html .

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html .

Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562- 2200).

 



 

Financial Institution Letters 
FIL-53-2007 
June 26, 2007

Submitting Examination Data 
Institutions will be Able to Securely Exchange Electronic Examination Information with their State Banking Regulator Using FDICconnect 

Starting July 9, 2007, the FDIC will provide participating state bank regulators with access to the FDICconnect Examination File Exchange system. This change allows for the secure electronic transmission of examination information between insured financial institutions, the FDIC and/or state banking regulators.

The FDIC currently requests information that is reviewed prior to the on-site portion of the examination. With the expansion of FDICconnect, institutions and other affiliated parties, such as data servicers, will be able to quickly and securely exchange files with the FDIC and/or their participating state banking regulator. In addition, use of the system could relieve examination burden on institutions by allowing FDIC staff to complete a significant portion of the examination process offsite. The FDIC encourages all insured institutions to take advantage of this system when contacted by the FDIC and/or a state banking regulator for information before or during an examination.

The FDIC provides technical and instructional support for bankers using FDICconnect. You may contact the FDICconnect Help Desk by calling toll-free 1-877-275-3342 (select options 1 for English, 1 for financial institutions, and 5 for the Help Desk) or sending an e-mail to FDICconnect@fdic.gov .

The expansion of FDICconnect demonstrates 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;
  • Provide increased customer service to FDIC-insured institutions by improving existing business processes to enable more efficient and effective communication; and
  • Reduce examination burden on its institutions.

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

Director

Division of Supervision and Consumer Protection


Additional Related Topics:

  • President's Management Agenda
  • Government Paperwork Elimination Act
FIL-53-2007
Attachment(s)

Last Updated: June 26, 2007