New Institutions

Assessment Rates

FDIC

Newly insured institutions are defined as any bank or thrift that has not been chartered for at least five years as of the last day of any quarter for which it is being assessed. Newly insured institutions will be assessed as outlined below.

1. Effective January 1, 2009, for the first quarter of 2009 (that is, for the June 2009 invoice), and until a Risk Category I new institution receives CAMELS component ratings, it will have an initial base assessment rate that is one basis point above the minimum initial base assessment rate applicable to Risk Category I institutions. All other new institutions in Risk Category I would be treated as are established institutions except as provided in item #4 below.
2. Effective April 1, 2009, for the last three quarters of 2009 (that is, for the September 2009, December 2009, and March 2010 invoices) and until a Risk Category I new institution receives CAMELS component ratings, it will have an initial base assessment rate that is two basis points above the minimum initial base assessment rates applicable to Risk Category I institutions. All other new institutions in Risk Category I would be treated as are established institutions except as provided in item #4 below.
3. Effective January 1, 2010, (that is beginning with the June 2010 invoice) any new institution in Risk Category I, regardless of whether it has CAMELS component ratings or not, will be assessed at the maximum initial base assessment rate applicable to Risk Category I institutions and subject to item #4 below. Invoicing at the maximum initial base assessment rate for a Risk Category I newly insured institution will continue until the institution has been insured for five years. For example, an institution that became insured on December 15, 2008, and remained in Risk Category I, would pay at the maximum initial base assessment rate through invoice payment date Friday, March 28, 2014 (which is payment for deposit insurance coverage for the fourth quarter of 2013).
4. Either before or after January 1, 2010:
   no new institution, regardless of risk category, would be subject to the unsecured debt adjustment;
   any new institution, regardless of risk category, would be subject to the secured liability adjustment; and
   a new institution in Risk Categories II, III or IV would be subject to the brokered deposit adjustment.

   
   After January 1, 2010, no new institution in Risk Category I would be subject to the large bank adjustment.

For more information, go to: Risk Categories and Risk-based Assessment Rates.

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FICO
• The FICO assessment rate is set quarterly and is the same for all insured institutions. There is no difference in the FICO charge for new institutions. See FICO and the Assessments Invoice section for more information.

Initial Invoice
Newly insured institutions are assessed beginning with the quarter in which they become insured. For example:

*The initial invoice is essentially pro-rated for the number of days an institution is open in its first quarter because of the daily average method of deposit reporting on its Report of Condition (see below).

Deposit Reporting
Any institution that became newly insured by the FDIC on or after April 1, 2007, must report daily averages, on an unconsolidated basis, in Schedule RC-O (Schedule DI for Thrifts) beginning with its March 31, 2008, Report of Condition. When daily averages are reported in the first report the institution files after becoming FDIC-insured, the dollar amounts include the days since the institution began operations and zero for the days prior to the date the institution began operations, effectively pro-rating the first quarter’s assessment base.
Click here for more information on Deposit Reporting.