Deposit Insurance Assessments 30-Day Extension of Comment Period for Portions of Proposed Assessment Rules That Would Become Effective April 1, 2009

Highlights: 
 

• On October 7, 2008, the FDIC requested comment on proposed rules that would: (1) effective January 1, 2009, raise current assessment rates uniformly by seven basis points for the first quarter 2009 assessment period only; (2) effective April 1, 2009, alter the way in which the risk-based assessment system differentiates for risk and again change deposit insurance assessment rates; and (3) also effective April 1, 2009, make technical and other changes to the rules governing the risk-based assessment system.
• The proposed rules were published for a 30-day comment period, which is scheduled to close on November 17, 2008.
• To afford interested parties additional time beyond the present 30-day comment period to review only those proposals with an April 1, 2009, effective date, the attached Federal Register notice would extend the period for public comment by 30 days, that is, until December 17, 2008, for items (2) and (3) above.
• The existing 30-day comment period for the proposed seven basis point uniform increase in existing assessment rates for the first quarter of 2009, only, item (1) above – with its separate proposed effective date of January 1, 2009 – is not extended and will end on November 17, 2008.

Continuation of FIL-126-2008 

Distribution: 
All FDIC-Insured Institutions

Suggested Routing: 
Chief Executive Officer 
President 
Chief Financial Officer

Note: 
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/financial-institution-letters/2008/index.html .

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).

Deposit Insurance Assessments 
30-Day Extension of Comment Period for Portions of Proposed Assessment Rules That Would Become Effective April 1, 2009 
 

On October 7, 2008, the FDIC requested comment on proposed rules that would: (1) effective January 1, 2009, raise current assessment rates uniformly by seven basis points for the first quarter 2009 assessment period only; (2) effective April 1, 2009, alter the way in which the risk-based assessment system differentiates for risk and again change deposit insurance assessment rates; and (3) also effective April 1, 2009, make technical and other changes to the rules governing the risk-based assessment system. The proposed rules were published for a 30-day comment period, which is scheduled to close on November 17, 2008.

To afford interested parties additional time beyond the present 30-day comment period to review the proposals with an April 1, 2009, effective date, the FDIC Board of Directors has extended the period for public comment by 30 days, that is, until December 17, 2008, for those parts of the proposal that would become effective April 1, 2009 (items two and three in the preceding paragraph).

The existing 30-day comment period for the proposed seven basis point uniform increase in existing assessment rates for the first quarter of 2009 only (item one in the first paragraph), with its separate proposed effective date of January 1, 2009, is not extended and will end on November 17, 2008.

Arthur J. Murton

Director

Division of Insurance and Research