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Financial Institution Letters

Deposit Insurance Assessments
Extension of Comment Period on Proposed Rules
FIL-59-2006
June 29, 2006


Summary: The FDIC Board of Directors has extended the comment period through August 16, 2006, for three proposed rules governing deposit insurance assessments under the Deposit Insurance Reform Act of 2005. The proposed rules would implement a one-time assessment credit, dividends, and procedural and operational changes to the assessment regulations. The Reform Act requires the FDIC to prescribe the credit and dividend regulations by November 5, 2006. Comments on the proposals were originally due by July 17, 2006.

Highlights:
  • The FDIC Board of Directors has extended the comment period for three proposed rules governing deposit insurance assessments under the Deposit Insurance Reform Act of 2005.
  • Comments on the proposals are due by August 16, 2006.
  • The proposed rules concern a one-time assessment credit for eligible insured depository institutions; the payment of dividends from the Deposit Insurance Fund; and procedural and operational changes regarding the manner in which assessments are determined and collected from insured depository institutions.
  • For more information about the proposed rules, see FIL-46-2006, dated May 18, 2006.

Distribution:
All FDIC-Insured Institutions

Suggested Routing:
Chief Executive Office
President
Chief Financial Officer

Related Topics:
FDIC Assessments Regulations
12 C.F.R. 327

Attachment:
Federal Register notices announcing extension of comment periods

http://edocket.access.gpo.gov/2006/pdf/06-5834.pdf - PDF 46k (PDF Help)
http://edocket.access.gpo.gov/2006/pdf/06-5839.pdf - PDF 53k (PDF Help)
http://edocket.access.gpo.gov/2006/pdf/06-5865.pdf - PDF 53k (PDF Help)

Contact:
Munsell W. St.Clair, Senior Policy Analyst, Division of Insurance and Research, on (202) 898-8967

Printable Format:
FIL-59-2006 - PDF 36k (PDF Help)

Note:
FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2006/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 N. Fairfax Drive, Room E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).



Last Updated 06/29/2006 communications@fdic.gov