Summary: | On May 22, 2009, the FDIC adopted a final rule imposing a 5 basis point special assessment on each insured depository institution's assets minus Tier 1 capital as of June 30, 2009. The amount of the special assessment for any institution will not exceed 10 basis points times the institution's assessment base for the second quarter 2009. The special assessment will be collected on September 30, 2009. An additional special assessment of up to 5 basis points later in 2009 is probable, but the amount is uncertain. |
Highlights:
Continuation of FIL-23-2009 Distribution: Suggested Routing: Note: 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).
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Financial Institution Letters FIL-23-2009 May 22, 2009 |
Deposit Insurance Assessments On May 22, 2009, the FDIC Board of Directors (Board) adopted the attached final rule on special assessments. Special Assessment : The special assessment will be calculated as 5 basis points times each insured depository institution's assets minus Tier 1 capital as reported in the report of condition of June 30, 2009. The amount of the special assessment for any institution will not exceed 10 basis points times the institution's assessment base for the second quarter 2009 risk-based assessment. The special assessment will be collected on September 30, 2009, at the same time the regular quarterly risk-based assessment for the second quarter 2009 are collected. Further Special Assessments : The Board may, by vote, impose an additional special assessment in 2009 of up to 5 basis points on assets minus Tier 1 capital on all insured depository institutions if the Board believes that the reserve ratio of the DIF is estimated to fall to a level that would adversely affect public confidence or to a level which shall be close to or below zero. Any such additional special assessment will not exceed 10 basis points times the institution's assessment base for the corresponding quarter. The latest possible date for imposing an additional special assessment under the final rule would be December 31, 2009, with collection on March 30, 2010. An additional special assessment in 2009 is probable. Examiner Guidance : The FDIC will issue guidance to FDIC examiners following the adoption of this rule instructing them to assign component and composite ratings without regard to payment of the special assessment. Arthur J. Murton Director Division of Insurance and Research |
Additional Related Topics:
- FDIC Operational regulations Governing the
- Assessment Process, 12 CFR 327.1 to 327.15