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Financial Institution Letter

Deposit Insurance Assessments One-Time Assessment Credit Statement – REMINDER

November 17, 2006
Notes
 


Summary: The FDIC is reminding FDIC-insured depository institutions that their Preliminary Statements of One-Time Assessment Credit are available for viewing through FDIC connect . Insured depository institutions have only until December 18, 2006, to submit a Request for Review to correct any errors in their Statements.

Highlights:
  • The FDIC Board of Directors recently approved the final rule to implement the One-Time Assessment Credit, as required by the Federal Deposit Insurance Reform Act of 2005. The rule takes effect today, November 17, 2006.
  • An institution's Preliminary Statement of One-Time Credit is available only through FDIC connect , the FDIC's e-business portal.
  • An institution may request a review of its One-Time Assessment Credit eligibility or amount no later than December 18, 2006 .
  • Because the amounts shown in the Statement will not reflect credits as a result of transfers under the "de facto rule," an institution claiming credits under this rule must file a request for review.
  • An institution that does not request a review of its One-Time Assessment Credit eligibility or amount by December 18, 2006, will be barred from subsequently requesting a review.
  • If an institution agrees with the information presented on the Preliminary Statement of One-Time Assessment Credit, it does not need to take any further action.
  • Refer to Financial Institution Letter (FIL)-93-2006, issued October 18, 2006, for a copy of the final rule and guidelines for filing a request for review.

Distribution:
All FDIC-Insured Institutions

Suggested Routing:
Chief Executive Officer
President
Chief Financial Officer

Note:
FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/financial-institution-letters/2006/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).


Additional Related Topics:

  • FDIC Assessments Regulations, 12 CFR 327, Subpart A
  • FDIC Dividends Regulations, 12 CFR 327, Subpart C
FIL-101-2006
Attachment(s)

Last Updated: November 17, 2006