Billing & Payment -
Deposit insurance assessments are collected quarterly. All net
invoice payments and collection are conducted electronically via
Automated Clearing House (ACH) Direct Debit/Credit.
Calculation
of FDIC deposit insurance assessments -
Beginning January 1, 2007, an institution’s risk based
assessment for each quarter is determined after the quarter
ends and the resulting assessment is collected at the end of
the following
quarter. For example, an institution’s June invoice reflects
the FDIC risk-based assessment for the first quarter of
the year. The FDIC assessment is determined by multiplying the
institution’s
assessable base amount by its risk-based assessment rate.
The assessable base amount is determined from the institution’s
March 31 Call Report or TFR. The risk-based assessment
rate is determined using financial data from the March 31 Call
Report
or TFR, current supervisory ratings, and long-term debt
issuer ratings where applicable. For more information, see the
discussion
of “Risk Categories and Risk-based Assessment Rates.” More
information is available on current
and previous risk-based assessment rate setting.
FICO
(the Financing Corporation) assessments -
FICO assessments are also collected on the quarterly invoice.
The FDIC is the collection agent for FICO. The FICO assessment
services the interest on the noncallable thrift bonds issued
between 1987 and 1989. The FICO assessment will end in
2019 when the final bonds mature. The FICO rate is set quarterly
by dividing
the debt service requirement by the insurance fund’s assessable
base. The quarterly FICO obligation does not represent
a payment that covers any time period – neither in advance
nor in arrears. FICO, which is a separate charge from FDIC deposit
insurance
premiums, is an obligation due each quarter from all insured
institutions. The FICO charge does not mirror the coverage
period of deposit insurance premiums. Rather, it is a charge
that must
be expensed but not necessarily over any time period. More
information is available on FICO.
Signature
Confirmation - Do not return the invoice
if you agree with it. If you disagree with the information
on the invoice, correct the information on the invoice and
return it to
the address provided within 90 days of the invoice date.
Amendments -
If an amendment has been filed to your Report of Condition and Income
(“Call Report”) or Thrift Financial Report (“TFR”),
you do not need to do anything else to have the amendment reflected
on your invoice. The amendment will flow from the Call Report system
to the
assessment system and an adjustment will be reflected on the upcoming
invoice. An amendment to a TFR that is beyond the Office of Thrift
Supervision deadline
for changes but within the three year statute of limitations on changing
assessments, can be sent directly to the FDIC at the address shown
on the assessment invoice.
FDICconnect -
Since March 2005, invoices are only available through FDICconnect.
That is, invoices are not mailed, emailed, or faxed. Only an institution’s
FDICconnect Coordinator or authorized user can download the invoice.
For more information on FDICconnect, or to download additional
copies of current and previous invoices, go to: https://www2.fdicconnect.gov.
