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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 members, 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 for the quarter in
which they become insured. For example:
| Date new
institution becomes insured: |
June 1 |
| First Report
of Condition filed for quarter ending: |
June 30 |
| First invoice
due and payable |
September
30 |
| Insurance
coverage period of first invoice |
April 1
through June 30* |
*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.
Change in 2010
Beginning in 2010, institutions that are less than 5 years old
will be assessed at no less than the highest rate charged in Risk
Category I. Exceptions may apply for: (1) new institutions owned
by established
institutions or holding companies with established insured institutions;
(2) new insured institutions that were formerly credit unions;
and (3) institutions that result from the merger of a new and an
established institution. Please see the Regulations for more details.
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