# 12 C.F.R. § 303.242 (2026): Exercise of trust powers

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_242

## Section

- **Citation:** 12 C.F.R. § 303.242 (2026)
- **Heading:** Exercise of trust powers
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Title 12 CFR: Banks and Banking / Chapter III: FEDERAL DEPOSIT INSURANCE CORPORATION / Part 303: FILING PROCEDURES / Subpart M: Other Filings / § 303.242: § 303.242   Exercise of trust powers.

## Text

(a)
Scope.
This section contains the procedures to be followed by a State nonmember bank or State savings association that seeks to obtain the FDIC's prior written consent to exercise trust powers. The FDIC's prior written consent to exercise trust powers is not required in the following circumstances:
(1) Where a State nonmember bank or State savings association received authority to exercise trust powers from its chartering authority prior to December 1, 1950; or
(2) Where the institution continues to conduct trust activities pursuant to authority granted by its chartering authority subsequent to a charter conversion or withdrawal from membership in the Federal Reserve System.
(b)
Where to file.
Applicants shall submit to the appropriate FDIC office a completed form, “Application for Consent to Exercise Trust Powers.” This form may be obtained from any FDIC regional director.
(c)
Content of filing.
The filing shall consist of the completed trust application form.
(d)
Additional information.
The FDIC may request additional information at any time during processing of the filing.
(e)
Expedited processing for eligible depository institutions.
An application filed under this section by an eligible depository institution as defined in § 303.2(r) will be acknowledged in writing by the FDIC and will receive expedited processing, unless the applicant is notified in writing to the contrary and provided with the basis for that decision. The FDIC may remove an application from expedited processing for any of the reasons set forth in § 303.11(c)(2.). Absent such removal, an application processed under expedited procedures will be deemed approved 30 days after the FDIC's receipt of a substantially complete application.
(f)
Standard processing.
For those applications that are not processed pursuant to the expedited procedures, the FDIC will provide the applicant with written notification of the final action when the decision is rendered.
[83 FR 60337, Nov. 26, 2018]

## Nearby sections

- [12 C.F.R. § 303.240 (2026) § 303.240   General.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_240.md)
- [12 C.F.R. § 303.241 (2026) § 303.241   Reduce or retire capital stock or capital debt instruments.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_241.md)
- [12 C.F.R. § 303.242 (2026) § 303.242   Exercise of trust powers.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_242.md)
- [12 C.F.R. § 303.243 (2026) § 303.243   Brokered deposits.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_243.md)
- [12 C.F.R. § 303.244 (2026) § 303.244   Golden parachute and severance plan payments.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_244.md)
- [12 C.F.R. § 303.245 (2026) § 303.245   Waiver of liability for commonly controlled depository institutions.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_245.md)
- [12 C.F.R. § 303.246 (2026) § 303.246   Conversion with diminution of capital.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_246.md)
- [12 C.F.R. § 303.247 (2026) § 303.247   Continue or resume status as an insured institution following termination under section 8 of the FDI Act.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_247.md)
- [12 C.F.R. § 303.248 (2026) § 303.248   Truth in Lending Act—Relief from reimbursement.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_248.md)
- [12 C.F.R. § 303.249 (2026) § 303.249   Management official interlocks.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_249.md)
- [12 C.F.R. § 303.250 (2026) § 303.250   Modification of conditions.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_250.md)
- [12 C.F.R. § 303.251 (2026) § 303.251   Extension of time.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_251.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T12_P303_S303_242. Check the current official text before relying on it. Not legal advice.