FEDERAL DEPOSIT INSURANCE CORPORATION

CHARTER OF

THE FDIC ADVISORY COMMITTEE 

OF STATE REGULATORS

1. Committee’s Official Designation (Title): FDIC Advisory Committee of State

Regulators (the “Committee”).

2. Authority: Discretionary committee established under agency authority in accordance

with the provisions of the Federal Advisory Committee Act, as amended, 5 U.S.C. App.

2.

3. Objectives and Scope of Activities: The Committee will provide advice and

recommendations to the FDIC on a broad range of policy issues regarding the regulation

of state-chartered financial institutions throughout the United States, including its

territories. The Committee will provide a forum where state regulators and the FDIC can

discuss a variety of current and emerging issues that have potential implications

regarding the regulation and supervision of state-chartered financial institutions. The

Committee is intended to facilitate regular discussion of: safety and soundness and

consumer protection issues; the creation of new banks; the protection of our nation’s

financial system from risks such as cyber-attacks or money laundering; and other timely

issues.

4. Description of Duties: The Committee will provide advice and recommendations

only. It will have no formal decision-making role, will have no access to confidential

supervisory or other confidential information, and will not have access to or discuss any

non-public information regarding specific financial companies.

5. Agency or Official to Whom the Committee Reports: The Committee reports to the

Chairman of the Board of Directors of the FDIC (the “FDIC Chairman”).

6. Support: The FDIC will establish such operating procedures as are required to

support the Committee, consistent with the Federal Advisory Committee Act, as

amended. The FDIC will provide whatever support is required for the Committee’s

activities, to the extent permitted by law and subject to the availability of resources.

7. Estimated Annual Operating Costs and Staff Years: The annual operating costs

associated with supporting the Committee’s functions are estimated to be $300,000 per

year, including staff time. It is estimated that two staff-years per year of FDIC personnel

time will be required to support the Committee on a continuing basis. Committee
members will be reimbursed for expenses for travel, per diem, and other miscellaneous 

expenses incurred in the performance of their duties for the Committee, subject to FDIC 

approval. 

8. Designated Federal Officer: A permanent full-time or part-time employee, appointed

in accordance with agency procedures and designated as such by the FDIC Chairman,

will serve as the Designated Federal Officer (“DFO”). The FDIC Chairman may appoint

an alternate DFO (ADFO). The DFO or ADFO will approve or call all of the

Committee’s and subcommittees’ meetings, prepare and approve all meeting agendas,

attend all Committee and subcommittee meetings, adjourn any meeting when the DFO or

ADFO determines adjournment to be in the public interest, and chair meetings when

directed to do so by the FDIC Chairman.

9. Estimated Number and Frequency of Meetings: The Committee shall meet at such

intervals as are necessary to carry out its functions. It is anticipated that the Committee

will meet at least two times per year.

10. Duration: The Committee will exist for two years from the date of the Charter filing,

unless earlier renewed.

11. Termination: The Committee will terminate two years from the date of the Charter

filing, unless earlier renewed or terminated.

12. Membership and Designation: In accordance with the Membership Balance Plan

for the Committee, the majority of the members of the Committee will represent state

bank regulators from across the United States, including its territories; other members of

the Committee may include individuals with expertise in the regulation of state-chartered

financial institutions. Members will serve for a term of two years, which may be

renewed or otherwise extended for an additional period. The number of members of the

Committee will not exceed 15. Committee members will not receive compensation for

their services. No Special Government Employees and no Regular Government

Employees are expected to be on the Committee. If desired by the FDIC, the FDIC

Chairman will select the Chairman of the Committee from among the members of the

Committee.

13. Subcommittees: The FDIC Chairman is authorized to create any subcommittees that

may be necessary to fulfill the Committee’s mission. Subcommittees may include as

members individuals who are appointed Committee members and/or other individuals.

Any subcommittee created will report back to the parent Committee and will not provide

advice or work product(s) directly to the FDIC.

14. Recordkeeping: The records of the Committee will be handled in accordance with

the FDIC’s records disposition schedule. These records will be available for public

inspection and copying, subject to the Freedom of Information Act, 5 U.S.C. § 552.
15. Filing Date: The charter has been filed with the Chairman of the FDIC; the Senate

Committee on Banking, Housing, and Urban Affairs; the House Committee on Financial

Services; the General Services Administration’s Committee Management Secretariat; and

furnished to the Library of Congress on December 7, 2021.

 12-07-21_________ __________________________________

Dated Jelena McWilliams

 Chairman

 Federal Deposit Insurance Corporation