Federal Deposit
Insurance Corporation

• The FDIC Board of Directors recently approved the final rule to implement the One-Time Assessment Credit, as required by the Federal Deposit Insurance Reform Act of 2005. The rule takes effect today, November 17, 2006.
• An institution's Preliminary Statement of One-Time Credit is available only through FDICconnect, the FDIC's e-business portal.
• An institution may request a review of its One-Time Assessment Credit eligibility or amount no later than December 18, 2006.
• Because the amounts shown in the Statement will not reflect credits as a result of transfers under the "de facto rule," an institution claiming credits under this rule must file a request for review.
• An institution that does not request a review of its One-Time Assessment Credit eligibility or amount by December 18, 2006, will be barred from subsequently requesting a review.
• If an institution agrees with the information presented on the Preliminary Statement of One-Time Assessment Credit, it does not need to take any further action.
• Refer to Financial Institution Letter (FIL)-93-2006, issued October 18, 2006, for a copy of the final rule and guidelines for filing a request for review.

Distribution:
All FDIC-Insured Institutions

Suggested Routing:
Chief Executive Officer
President
Chief Financial Officer

Related Topics:
FDIC Assessments Regulations, 12 CFR 327, Subpart A
FDIC Dividends Regulations, 12 CFR 327, Subpart C

Attachment:
None

Contact:
Donna M. Saulnier, Senior Assessment Policy Specialist, Division of Finance, (703) 562-6167
Thomas D. Hesselbrock, Senior Assessment Policy Specialist, Division of Finance, (703) 562-6165
assessments@fdic.gov

Printable Format:
FIL-101-2006 - PDF 28k (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 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).