FDIC Issues Revised Statement of Policy on Minority Depository Institutions

The FDIC issued a revised statement of policy regarding minority depository institutions ("MDIs") that "updates, strengthens and clarifies" existing policies. The final statement of policy:

• describes the FDIC's efforts to preserve MDIs and to enhance communication;

• defines the program terms for technical assistance, outreach, training and education; and

• explains how the FDIC assesses an MDI's performance based on examination standards.

The statement of policy will go into effect 60 days after its publication in the Federal Register.