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2000 - FDIC Rules and Regulations
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PART 312—ASSESSMENT OF FEES UPON ENTRANCE TO OR EXIT FROM
THE
BANK INSURANCE FUND OR THE SAVINGS ASSOCIATION
INSURANCE FUND
Sec.
312.1
Definitions.
312.2
Bank Insurance Fund reserve ratio.
312.3
Savings Association Insurance Fund reserve ratio.
312.4
Entrance fees assessed in connection with conversion transactions
from the Savings Association Insurance Fund to the Bank Insurance Fund.
312.5
Exit fees assessed in connection with conversion transactions
from the Savings Association Insurance Fund to the Bank Insurance Fund.
312.6
Entrance fees assessed in connection with conversion transactions
from the Bank Insurance Fund to the Savings Association Insurance Fund.
312.7
Exit fees assessed in connection with conversion transactions
from the Bank Insurance Fund to the Savings Association Insurance Fund.
312.8
Entrance and exit fees assessed in connection with insured
deposit transfers from the Savings Association Insurance Fund to the
Bank Insurance Fund.
312.9
Entrance and exit fees assessed in connection with insured
deposit transfers from the Bank Insurance Fund to the Savings
Association Insurance Fund.
312.10
Payment of entrance and exit fees.
AUTHORITY: 12 U.S.C. 1815(d); 12 U.S.C. 1819.
SOURCE: The provisions of this Part 312 appear at 54 Fed. Reg.
40380, October 2, 1989, except as otherwise noted.
§ 312.1 Definitions.
For the purposes of this part:
(a) The term "Bank Insurance Fund" shall mean the fund
established by section 11(a)(5) of the Federal Deposit Insurance Act,
12 U.S.C. 1821(a)(5). The
term "Savings Association Insurance Fund" shall mean the fund
established by section 11(a)(6) of the Federal Deposit Insurance Act,
12 U.S.C. 1821(a)(6).
(b) The terms "Bank Insurance Fund member" and "Savings
Association Insurance Fund member" shall have the meanings given
them in sections 7(l) (4) and (5) of the
Federal Deposit Insurance Act, 12
U.S.C. 1817(l) (4), (5), respectively.
(c) The term "Bank Insurance Fund reserve ratio" shall mean
the ratio of the net worth of the Bank Insurance Fund to the value of
the aggregate total domestic deposits held in all Bank Insurance Fund
members. The term "Savings Association Insurance Fund reserve
ratio" shall mean the ratio of the value of the net worth of the
Savings Association Insurance Fund to the value of the aggregate total
domestic deposits held in all Savings Association Insurance Fund
members.
(d) The term "conversion transaction" shall have the meaning
given it in section 5(d)(2)(B) of the Federal Deposit Insurance Act,
12 U.S.C. 1815(d)(2)(B).
(e) The terms "default" and "in danger of default"
shall have the meanings given them in section 3(x) of the Federal
Deposit Insurance Act, 12 U.S.C.
1813(x).
(f) The term "deposit broker" shall have the meaning given it
in section 29 of the Federal Deposit Insurance Act,
12 U.S.C. 1831f.
(g) The term "entrance fee deposit base" generally refers to
those deposits which the Federal Deposit Insurance Corporation, in
its discretion, estimates to have a high probability of remaining
with the acquiring or resulting depository institution for a reasonable
period of time following the acquisition, in excess of those deposits
that would have remained in the insurance fund of the depository
institution in default or in danger of default had such institution
been resolved by means of an insured deposit transfer. The estimated
dollar amount of the entrance fee deposit base shall be determined on a
case-by-
{{8-16-91 p.2234}}case basis by the Federal
Deposit Insurance Corporation at the time offers to acquire an insured
depository institution (or any part thereof) are solicited by the
Federal Deposit Insurance Corporation or the Resolution Trust
Corporation.
(h) The term "insured deposit transfer" shall mean a
transaction wherein the insured deposits of an insured depository
institution in default or in danger of default, are paid by means of a
transferred deposit pursuant to a written agreement between the Federal
Deposit Insurance Corporation or the Resolution Trust Corporation and
an insured depository institution. The term "transferred deposit"
shall have the meaning given it in section 3(n) of the Federal Deposit
Insurance Act, 12 U.S.C.
1813(n).
(i) The term "premium" shall mean the amount paid by an
insured depository institution in consideration for the right to enter
into an insured deposit transfer agreement. The premium shall not
include the amount of any transferred deposits, nor shall the premium
include any amount paid for the purchase of assets or the right to
purchase assets of a depository institution in default or in danger of
default.
(j) The term "retained deposit base" shall mean the total
deposits transferred from a Savings Association Insurance Fund Member
to a Bank Insurance Fund Member, or from a Bank Insurance Fund member
to a Savings Association Insurance Fund member, less the following
deposits:
(1) Any deposit acquired, directly or indirectly, by or through
any deposit broker; and
(2) Any portion of any deposit account exceeding $80,000.
[Codified to 12 C.F.R. § 312.1]
[Section 312.1 amended at 54 Fed. Reg. 52927, December 26,
1989; 55 Fed. Reg. 10412, March 21, 1990]
§ 312.2 Bank Insurance Fund reserve ratio.
The Bank Insurance Fund reserve ratio to be used in computing the
entrance fee under this part with respect to any particular conversion
transaction shall be the most recent Bank Insurance Fund reserve ratio
calculated quarterly by the Federal Deposit Insurance Corporation prior
to the date on which deposit liabilities are transferred from a Savings
Association Insurance Fund member to a Bank Insurance Fund member in
connection with that conversion
transaction. 1
[Codified to 12 C.F.R. § 312.2]
[Section 312.2 amended at 56 Fed. Reg. 29895, July 1,
1991]
§ 312.3 Savings Association Insurance Fund reserve ratio.
The Savings Association Insurance Fund reserve ratio to be used in
computing the entrance fee under this part with respect to any
particular conversion transaction shall be the most recent Savings
Association Insurance Fund reserve ratio calculated quarterly by the
Federal Deposit Insurance Corporation prior to the date on which
deposit liabilities are transferred from a Bank Insurance Fund member
to a Savings Association Insurance Fund member in connection with that
conversion transaction.
[Codified to 12 C.F.R. § 312.3]
[Section 312.3 added at 54 Fed. Reg. 52928, December 26,
1989; amended at 56 Fed. Reg. 29895, July 1, 1991]
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§ 312.4 Entrance fees assessed in connection with conversion
transactions from the Savings Association Insurance Fund to the Bank
Insurance Fund.
(a) Each insured depository institution participating in a
conversion transaction as a result of which insured deposits are
transferred from a Savings Association Insurance Fund member to a Bank
Insurance Fund member shall pay an entrance fee to the Bank Insurance
Fund.
(b) The entrance fee shall be the product derived by multiplying
the dollar amount of total deposits transferred from the Savings
Association Insurance Fund member to the Bank Insurance Fund member by
the Bank Insurance Fund reserve ratio.
(c) Notwithstanding paragraph (b) of this section, the entrance fee
to be assessed against an insured depository institution participating
in a conversion transaction:
(1) Occurring in connection with the acquisition of a Savings
Association Insurance Fund member in default or in danger of default,
or
(2) Otherwise arranged by the Federal Deposit Insurance
Corporation in its capacity as exclusive manager of the Resolution
Trust Corporation.
shall be the product derived by multiplying the dollar amount of the
entrance fee deposit base transferred from the Savings Association
Insurance Fund member to the Bank Insurance Fund member by the Bank
Insurance Fund reserve ratio.
[Codified to 12 C.F.R. § 312.4]
[Section 312.4 amended at 55 Fed. Reg. 10413, March 21,
1990]
§ 312.5 Exit fees assessed in connection with conversion
transactions from the Savings Association Insurance Fund to the Bank
Insurance Fund.
(a) Each insured depository institution participating in a
conversion transaction as a result of which insured deposits are
transferred from a Savings Association Insurance Fund member to a Bank
Insurance Fund member shall pay an exit fee.
(b) The exit fee shall be the product derived by multiplying the
dollar amount of total deposits transferred from the Savings
Association Insurance Fund member to the Bank Insurance Fund member by
0.90 percent (0.0090).
(c) Notwithstanding paragraph (b) of this section, the exit fee to
be assessed against an insured depository institution participating in
a conversion transaction:
(1) Occurring in connection with the acquisition of a Savings
Association Insurance Fund member in default or in danger of default,
or
(2) Otherwise arranged by the Federal Deposit Insurance
Corporation in its capacity as exclusive manager of the Resolution
Trust Corporation, shall be the product derived by multiplying the
dollar amount of the retained deposit base transferred from the Savings
Association Insurance Fund member to the Bank Insurance Fund member by
0.90 percent (0.0090).
(d) The exit fee required to be paid by this section shall be paid
to the Savings Association Insurance Fund or, if the Secretary of the
Treasury determines that the Financing Corporation has exhausted all
other sources of funding for interest payments on the obligations of
the Financing Corporation and orders that such exit fee be paid to the
Financing Corporation.
(e) Exit fees paid to the Savings Association Insurance Fund
pursuant to paragraph (d) of this section shall be held in a reserve
account until such time as the Federal Deposit Insurance Corporation
and the Secretary of the Treasury determine that it is not necessary to
reserve such funds for the payment of interest on the obligations of
the Financing Corporation.
(f) Before January 1, 1997, amendments to this section shall be
determined jointly by the Federal Deposit Insurance Corporation and the
Secretary of the Treasury.
[Codified to 12 C.F.R. § 312.5]
[Section 312.5 added at 55 Fed. Reg. 10413, March 21,
1990]
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§ 312.6 Entrance fees assessed in connection with conversion
transactions from the Bank Insurance Fund to the Savings Association
Insurance Fund.
(a) Each insured depository institution participating in a
conversion transaction as a result of which insured deposits are
transferred from a Bank Insurance Fund member to a Savings Association
Insurance Fund member shall pay an entrance fee to the Savings
Association Insurance Fund.
(b) The entrance fee shall be the product derived by multiplying
the dollar amount of total deposits transferred from the Bank Insurance
Fund member to the Savings Association Insurance Fund member by the
Savings Association Insurance Fund reserve ratio, or by .01 percent
(0.0001), whichever is greater.
(c) Notwithstanding paragraph (b) of this section, the entrance fee
to be assessed against an insured depository institution
participating in a conversion transaction occurring in connection
with the acquisition of a Bank Insurance Fund member in default or in
danger of default shall be the product derived by multiplying the
dollar amount of the entrance fee deposit base transferred from the
Bank Insurance Fund member to the Savings Association Insurance Fund
member by the Savings Association Insurance Fund reserve ratio, or by
.01 percent (0.0001), whichever is greater.
(d) Interim entrance fee until initial calculation of
Savings Association Insurance Fund reserve ratio. Notwithstanding
paragraphs (b) and (c) of this section, until such time as the Savings
Association Insurance Fund reserve ratio is initially calculated and
made publicly available, the entrance fee for all conversions from the
Bank Insurance Fund to the Savings Association Insurance Fund shall be
the product derived by multiplying the dollar amount of total deposits
transferred from the Bank Insurance Fund member to the Savings
Association Insurance Fund member by .01 percent (0.0001), unless the
conversion transaction is occurring in connection with the acquisition
of a Bank Insurance Fund member in default or in danger of default,
where it shall be the product derived by multiplying the dollar amount
of the entrance fee deposit base transferred from the Bank Insurance
Fund member to the Savings Association Insurance Fund member by 0.01
percent (0.0001).
[Codified to 12 C.F.R. § 312.6]
[Section 312.6 added at 54 Fed. Reg. 52928, December 26,
1989; 55 Fed. Reg. 10413, March 21, 1990]
§ 312.7 Exit fees assessed in connection with conversion
transactions from the Bank Insurance Fund to the Savings Association
Insurance Fund.
(a) Each insured depository institution participating in a
conversion transaction as a result of which insured deposits are
transferred from a Bank Insurance Fund member to a Savings Association
Insurance Fund member shall pay an exit fee to the Bank Insurance Fund.
(b) The exit fee shall be the product derived by multiplying the
dollar amount of total deposits transferred from the Bank Insurance
Fund member to the Savings Association Insurance Fund member by .01
percent (0.0001).
(c) Notwithstanding paragraph (b) of this section, the exit fee to
be assessed against an insured depository institution participating in
a conversion transaction occurring in connection with the acquisition
of a Bank Insurance Fund member in default or in danger of default
shall be the product derived by multiplying the dollar amount of the
retained deposit base transferred from the Bank Insurance Fund member
to the Savings Association Insurance Fund member by 0.01 percent
(0.0001).
[Codified to 12 C.F.R. § 312.7]
[Section 312.7 added at 54 Fed. Reg. 52928, December 26,
1989; amended at 55 Fed. Reg. 10413, March 21, 1990]
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§ 312.8 Entrance and exit fees assessed in connection with
insured deposit transfers from the Savings Association insurance Fund
to the Bank Insurance Fund.
(a) Insured deposit transfers resulting in a transfer of insured
deposits from a Savings Association Insurance Fund member to a Bank
Insurance Fund member, shall be subject to an entrance fee and an exit
fee.
(b) The entrance fee shall be the product derived by multiplying
the dollar amount of the retained deposit base of the Savings
Association Insurance Fund member in default or in danger of default by
the Bank Insurance Fund ratio.
(c) The exit fee shall be the product derived by multiplying the
dollar amount of the retained deposit base of the Savings Association
Insurance Fund member in default or in danger of default by 0.90
percent (0.0090).
(d) Notwithstanding paragraphs (a), (b), and (c) of this section,
the sum total of the entrance fee and the exit fee required by this
section shall in no event exceed the amount of the premium.
(e) The entrance and exit fees required by this section shall be
paid by the acquiring institution from the premium as follows. First,
the premium shall be allocated in payment of the exit fee to one-third
of the premium received. Second, the remaining premium shall be
allocated to the entrance fee. Third, if any premium remains, it shall
be applied to the remaining balance (if any) owing on the exit fee.
Fourth, any amount remaining after application pursuant to steps one
through three shall be allocated to the Resolution Trust Corporation.
(f) The entrance fee required by this section shall be paid to the
Bank Insurance Fund. The exit fee required by this section shall be
paid to the Savings Association Insurance Fund or, if the Secretary of
the Treasury determines that the Financing Corporation has exhausted
all other sources of funding for interest payments on the obligations
of the Financing Corporation and orders that such exit fee be paid to
the Financing Corporation.
(g) Exit fees paid to the Savings Association Insurance Fund
pursuant to paragraph (f) of this section shall be held in a reserve
account until such time as the Federal Deposit Insurance Corporation
and the Secretary of the Treasury determine that it is not necessary to
reserve such funds for the payment of interest on the obligations of
the Financing Corporation.
(h) Insured deposit transfers occurring before March 21, 1990 shall
not be subject to the assessment of entrance or exit fees.
(i) Before January 1, 1997, amendments to this section concerning
exit fees assessed in connection with insured deposit transfers from
the Savings Association Insurance Fund to the Bank Insurance Fund shall
be determined jointly by the Federal Deposit Insurance Corporation and
the Secretary of the Treasury.
[Codified to 12 C.F.R. § 312.8]
[Section 312.8 added at 55 Fed. Reg. 10414, March 21,
1990]
§ 312.9 Entrance and exit fees assessed in connection with
insured deposit transfers from the Bank Insurance Fund to the Savings
Association Insurance Fund.
(a) Insured deposit transfers resulting in a transfer of insured
deposits from a Bank Insurance Fund member to a Savings Association
Insurance Fund member, shall be subject to an entrance fee and an exit
fee.
(b) The entrance fee shall be the product derived by multiplying
the dollar amount of the retained deposit base of the Bank Insurance
Fund member in default or in danger of default by the Savings
Association Insurance Fund ratio or by .01 percent (0.0001), whichever
is greater.
(c) The exit fee shall be the product derived by multiplying the
dollar amount of the retained deposit base of the Bank Insurance Fund
member by 0.01 percent (0.0001).
(d) Notwithstanding paragraphs (a), (b), and (c) of this section,
the sum total of the entrance fee and the exit fee required by this
section shall in no event exceed the amount of the premium.
{{8-30-02 p.2236.02}}
(e) The entrance and exit fees required by this section shall be
paid by the acquiring institution from the premium as follows. First,
the premium shall be allocated in payment of the exit fee to one-third
of the premium received. Second, the remaining premium will be
allocated to the entrance fee. Third, if any premium remains, it shall
be applied to the remaining balance (if any) owing on the exit fee.
Fourth, any amount remaining after application pursuant to steps one
through three shall be allocated to the Federal Deposit Insurance
Corporation.
(f) The entrance fee required by this section shall be paid to the
Savings Association Insurance Fund. The exit fee required by this
section shall be paid to the Bank Insurance Fund.
(g) Insured deposit transfers occurring before March 21, 1990 shall
not be subject to the assessment of entrance or exit fees.
[Codified to 12 C.F.R. § 312.9]
[Section 312.9 added at 55 Fed. Reg. 10414, March 21,
1990]
§ 312.10 Payment of entrance and exit fees.
(a) A resulting or acquiring depository institution shall be liable
for the payment of the entrance and exit fees required by this part.
(b) Notwithstanding paragraph (a) of this section, an acquiring
depository institution participating in an insured deposit transfer
pursuant to § 312.8 or § 312.9 of this part shall pay the entrance
and exit fees from the premium, and in any event, shall not be liable
for the payment of that portion of the entrance and exit fees that
exceeds the premium paid by such acquiring depository institution.
(c) The "conversion transaction payment date" shall be either
March 31st or September 30th, whichever occurs first following the
expiration of 30 days from the date the deposits are transferred.
(d) A resulting or acquiring depository institution shall pay the
entrance and exit fees required by this part on the conversion
transaction payment date.
(e) Notwithstanding paragraph (d) of this section, where the sum of
the entrance and exit fees required to be paid by an insured depository
institution pursuant to §§ 312.4, 312.5, 312.6, or 312.7 of this
part exceeds $5,000, a resulting or acquiring depository institution
may, at its option, and upon notification to the Federal Deposit
Insurance Corporation, pay the entrance and exit fees in equal annual
installments, interest-free, over a period of not more than five years.
The first such installment shall be paid on the date described in
paragraph (c) of this section.
(f) Entrance and exit fees required to be paid by an insured
depository institution as the result of an insured deposit transfer
pursuant to §§ 312.8 or 312.9 of this part shall be paid on the
conversion transaction payment date described in paragraph (c) of this
section.
[Codified to 12 C.F.R. § 312.10]
[Section 312.10 added at 55 Fed. Reg. 10414, March 21, 1990]
[The page following this is 2237.]
1The Federal Deposit Insurance Corporation prepares statements
of financial condition as of December 31st of each year. These
financial statements are audited by the United States General
Accounting Office. The Bank Insurance Fund reserve ratio is derived, in
part, from these audited financial statements. The most recent reserve
ratio may be obtained by contacting the Office of Corporate
Communications, Federal Deposit Insurance Corporation, Washington, D.C.
20429. Go Back to Text
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