Application Process
Applications generally must be filed by banking organizations for the following types of activities: formation/expansion; engaging in nonbank activities; changes in control; addition or changes in directors or senior executive officers; stock redemptions and in emergency situations, such as when a bank is in danger of failing. In addition, institutions interested in membership in the Federal Reserve must file an application for membership. An overview of the types of applications and the circumstances under which they must be filed can be accessed using the "Application Types" link below.
The Federal Reserve generally follows a six-step process when working on applications submitted by banking organizations. These steps are: receipt, acknowledgement, requests for additional information, final action, pre-consummation events, and consummation/return/withdrawal. Processing times vary based on the type of application being filed and the amount of additional information that is required.
Application Process: six-step process
Semiannual Reports on Banking Applications Activity
Electronic Applications and Applications Filing Information (E-Apps)