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FDIC: Proposal to Change the Assessment Base and Corresponding Rate Schedule

ABA Contact: Rob Strand, rstrand@aba.com at (202) 663-5350
Published Proposal: 75 Federal Register 72582; November 24, 2010 
Comments Due: January 3, 2011  (Filed January 3, 2011)
Final Rule: 76 Federal Register 10672; February 25, 2011

Summary of the Proposed Rule:
The FDIC is proposing to amend 12 CFR 327 to change the premium assessment base, as provided in the Dodd-Frank Act. Recognizing the broadening of the base, the proposal would scale down the assessment rate schedule and:

  • alter the unsecured debt adjustment;
  • add an adjustment for long-term debt held by an insured depository institution where the debt is issued by another bank or credit union; 
  • eliminate the secured liability adjustment;  
  • change the brokered deposit adjustment to conform to the change in the assessment base and change the way the adjustment would apply to large institutions.

As proposed, the change would apply starting with second quarter 2011 assessments, for which assessments will be due September 30, 2011.