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The Federal Deposit Insurance Reform Act of 2005 allows "eligible insured depository institutions" to share a one-time assessment credit pool of approximately $4.7 billion. The FDIC issued a final rule (HTML | PDF - 100kb) on the One-Time Assessment Credit published on October 18, 2006. (71 Fed. Reg. 61374) (See also FDIC FIL-93-2006) As indicated in the final rule, the FDIC will provide a preliminary Statement of One-Time Credit to all eligible institutions as soon as practicable after October 18, 2006.

To be eligible for the one-time credit, an institution must have been in existence on December 31, 1996, and have paid a deposit insurance assessment prior to that date, or be a “successor” to such an institution. The final rule defines a “successor” as the resulting institution in a merger or consolidation or the acquiring institution under a de facto rule. The de facto rule recognizes a transfer of at least 90 percent of an institution’s assets and deposit liabilities as a substantial divestiture of the transferring institution’s business. An institution deemed a “successor” under this rule acquires a pro rata share of the transferring institution’s assessment base ratio, for purposes of determining the one-time assessment credit.

Each eligible institution's share of the assessment credit pool will be calculated by dividing its December 31, 1996 assessment base by the combined assessment base of all eligible institutions. Assessment credits will be applied to reduce deposit insurance assessments payable after the one-time credit regulations become effective.