New Institutions

Assessment Rates

FDIC
• A well-capitalized new institution without a CAMELS component ratings is assessed one basis point above the minimum rate applicable to Risk Category I institutions. The minimum rate is currently 5 basis points, so the current charge is 6 basis points or a quarterly multiplier of .00015 (6 divided by 10,000 divided by 4).
• Once a new institution is assigned CAMELS component ratings, its assessment rate is determined under the financial ratio method or the debt rating method. For more information, go to: Risk Categories and Risk-based Assessment Rates.

FICO
• The FICO assessment rate is set quarterly and is the same for all insured institutions. There is no difference in the FICO charge for new institutions. See FICO and the Assessments Invoice section for more information.

Initial Invoice
Newly insured institutions are assessed beginning with the quarter in which they become insured. For example:

*The initial invoice is essentially pro-rated for the number of days an institution is open in its first quarter because of the daily average method of deposit reporting on its Report of Condition (see below).

Deposit Reporting
Any institution that became newly insured by the FDIC on or after April 1, 2007, must report daily averages, on an unconsolidated basis, in Schedule RC-O (Schedule DI for Thrifts) beginning with its March 31, 2008, Report of Condition. When daily averages are reported in the first report the institution files after becoming FDIC-insured, the dollar amounts include the days since the institution began operations and zero for the days prior to the date the institution began operations, effectively pro-rating the first quarter’s assessment base.
Click here for more information on Deposit Reporting.

Treatment - New Institutions
For upcoming changes in the treatment of new institutions, see Assessment Rates for 2009.