Billing & Payment -
Deposit insurance assessments are collected quarterly. All net
invoice payments are collection electronically
via Automated Clearing House (ACH) Direct Debit/Credit.
Calculation
of FDIC deposit insurance assessments -
Beginning January 1, 2007, an institution’s risk-based
assessment for each quarter is determined after the quarter
ends and the resulting assessment is collected at the end
of the following
quarter. For example, an institution’s June invoice reflects
the FDIC risk-based assessment for the first quarter of
the year. The FDIC assessment is determined by multiplying
the institution’s
assessable base amount by its risk-based assessment rate.
The assessable base amount is determined from the institution’s
Call Report or TFR. For an explanation of the determination
of the risk-based assessment rate, go
to: Risk
Categories and Risk-based Assessment Rates.
FICO
(Financing Corporation) assessments -
FICO assessments are also collected on the quarterly invoice.
The FDIC is the collection agent for FICO. The FICO assessment
services the interest on the noncallable thrift bonds issued
between 1987 and 1989. The FICO assessment will end in
2019 when the final bonds mature. The FICO rate is set
quarterly by dividing
the debt service requirement by the insurance fund’s assessable
base. The quarterly FICO obligation does not represent
a payment that covers any time period – neither in advance
nor in arrears. FICO, which is a separate charge from FDIC
deposit insurance
premiums, is an obligation due each quarter from all insured
institutions. The FICO charge does not mirror the coverage
period of deposit insurance premiums. Rather, it is a charge
that must
be expensed but not necessarily over any time period. More
information is available on FICO.
TAGP
assessment -
The Transaction Account Guarantee Program (TAGP) is part of the
Temporary Liquidity Guarantee Program (TLGP) that began on October
14, 2008. If
an institution opted in the TAGP, an assessment charge appears
on line 9 of their invoice beginning with the March 2009 invoice.
The information
for the TAGP computation is taken from Call Report Schedule RC-O
line items 4a and 4b or from the Thrift Financial Report (TFR)
Schedule DI
line items 570 and 575. The TAGP computation consists of the: (1)
Guarantee Base which equals the amount of non-interest
bearing transaction accounts
less (the number of accounts times $250,000.00); and (2) the Daily
Multiplier which equals the annual rate of 10 basis points divided
by 365 days and
rounded to 7 decimal places. The Guarantee Fee on line
9 of the invoice equals the number of days guaranteed in the quarter
times
the Guarantee
Base amount times the Daily Multiplier. For
more information, see the TLGP information
page.
Special
Assessment -
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 cannot exceed
10 basis
points times the institution's deposit insurance assessment base
for the second quarter 2009. This special assessment is included with
the
September 30, 2009, invoice. For more information, see the sample
invoice above and FIL-23-2009.
Signature
Confirmation - Do not return the invoice
if you agree with it. If you disagree with the information
on the invoice, correct the information on the invoice and
return it to
the address provided on the invoice within 90 days of the
invoice date.
Amendments -
If your institution has filed an amendment to it's Report
of Condition and Income (“Call Report”) or Thrift
Financial Report (“TFR”),
no further action is necessary to
have the amendment reflected on your invoice. The amendment will
flow from the Call
Report system
to the
assessment system and an adjustment will be reflected on the
upcoming invoice. An amendment to a TFR that is beyond the Office
of Thrift
Supervision deadline
for changes but within the three year statute of limitations
on changing assessments can be sent directly to the FDIC at
the address shown
on the assessment invoice.
FDICconnect -
Since March 2005, invoices are only available through FDICconnect.
That is, invoices are not mailed, emailed, or faxed. Only an institution’s
FDICconnect Coordinator or authorized user can download the invoice.
For more information on FDICconnect, or to download additional
copies of current and previous invoices, go to: https://www2.fdicconnect.gov.
