Federal Deposit Insurance Corporation
550 17th Street NW, Washington, DC 20429
Deposit Insurance Assessments
FIL-74-2004
June 25, 2004
TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Proposed Changes to FDIC Assessment Certified Statement Rule
Summary: The FDIC is seeking comment on proposed changes to its assessment certified
statement rule (12 CFR Part 327). Under the proposed changes, correct certified
statements would not be signed and returned to the FDIC, and insured
institutions would obtain assessment invoices online through FDICconnect.
Comments are due by August 9, 2004
The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) is requesting
comment on the attached proposed rule, which would modernize and simplify the deposit
insurance assessment regulations governing certified statements. Comments are due by August
9, 2004.
Under the proposal, insured institutions would be required to obtain their certified statements on
the Internet via the FDIC's transaction-based e-business Web site, FDICconnect. The
semiannual certified statement process would be synchronized with the present quarterly
invoice process; two quarterly certified statement invoices would become components of the
semiannual assessment certification. Correct certified statements would no longer be signed
and returned to the FDIC.
Under the proposed changes, an institution would electronically retrieve its quarterly certified
statement invoice. If the institution agrees with its quarterly certified statement invoice, it would
simply pay the assessment amount (as it currently does) and retain the invoice in its own files. If
it disagrees with the quarterly certified statement invoice, it would either amend its Report of
Condition or similar report (to correct data errors) or amend its quarterly certified statement
invoice (to correct calculation errors). The FDIC would automatically treat either as the insured
institution's request for revision of its assessment computation, eliminating the requirement of a
separate filing.
It is anticipated that these proposed changes would reduce the time and effort required to
comply with the certified statement process, consistent with the FDIC's ongoing program under
the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) to provide
regulatory burden relief to insured depository institutions.
Written comments may be sent to Robert E. Feldman, Executive Secretary, Attention:
Comments/Executive Secretary Section, Federal Deposit Insurance Corporation, 550 17th
Street, NW, Washington, D.C. 20429. Comments also may be mailed electronically
to comments@fdic.gov or hand-delivered to the guard station at the rear of the 17th Street
building (located on F Street) on business days between 7 a.m. and 5 p.m. Comments also may
be faxed to (202) 898-3838.Inactive
550 17th Street NW, Washington, DC 20429
Deposit Insurance Assessments
FIL-74-2004
June 25, 2004
TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Proposed Changes to FDIC Assessment Certified Statement Rule
Summary: The FDIC is seeking comment on proposed changes to its assessment certified
statement rule (12 CFR Part 327). Under the proposed changes, correct certified
statements would not be signed and returned to the FDIC, and insured
institutions would obtain assessment invoices online through FDICconnect.
Comments are due by August 9, 2004
The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) is requesting
comment on the attached proposed rule, which would modernize and simplify the deposit
insurance assessment regulations governing certified statements. Comments are due by August
9, 2004.
Under the proposal, insured institutions would be required to obtain their certified statements on
the Internet via the FDIC's transaction-based e-business Web site, FDICconnect. The
semiannual certified statement process would be synchronized with the present quarterly
invoice process; two quarterly certified statement invoices would become components of the
semiannual assessment certification. Correct certified statements would no longer be signed
and returned to the FDIC.
Under the proposed changes, an institution would electronically retrieve its quarterly certified
statement invoice. If the institution agrees with its quarterly certified statement invoice, it would
simply pay the assessment amount (as it currently does) and retain the invoice in its own files. If
it disagrees with the quarterly certified statement invoice, it would either amend its Report of
Condition or similar report (to correct data errors) or amend its quarterly certified statement
invoice (to correct calculation errors). The FDIC would automatically treat either as the insured
institution's request for revision of its assessment computation, eliminating the requirement of a
separate filing.
It is anticipated that these proposed changes would reduce the time and effort required to
comply with the certified statement process, consistent with the FDIC's ongoing program under
the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) to provide
regulatory burden relief to insured depository institutions.
Written comments may be sent to Robert E. Feldman, Executive Secretary, Attention:
Comments/Executive Secretary Section, Federal Deposit Insurance Corporation, 550 17th
Street, NW, Washington, D.C. 20429. Comments also may be mailed electronically
to comments@fdic.gov or hand-delivered to the guard station at the rear of the 17th Street
building (located on F Street) on business days between 7 a.m. and 5 p.m. Comments also may
be faxed to (202) 898-3838.Inactive
For more information, please contact Steve Wagoner, Senior Assessment Specialist, Division of
Finance, at 202-416-7152; Linda A. Abood, Supervisory IT Specialist, Division of Information
Resources Management, at 703-516-1202; or Christopher Bellotto, Counsel, Legal Division, at
202-898-3801.
For your reference, FDIC Financial Institution Letters may be accessed on the FDIC's Web site
at http://www.fdic.gov/news/news/financial/2004/index.html. To learn how to automatically
receive FDIC Financial Institution Letters through e-mail, please
visit http://www.fdic.gov/news/news/announcements/index.html.
Fred S. Selby Michael E. Bartell
Director CIO and Director
Division of Finance Division of Information Resources Management
Attachment:
• June 8, 2004, Federal Register, pages 31922-31927 - PDF 70k
Distribution: All Insured Banks and Savings Associations
NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC’s
Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-
3342 or (703) 562-2200).Inactive
Finance, at 202-416-7152; Linda A. Abood, Supervisory IT Specialist, Division of Information
Resources Management, at 703-516-1202; or Christopher Bellotto, Counsel, Legal Division, at
202-898-3801.
For your reference, FDIC Financial Institution Letters may be accessed on the FDIC's Web site
at http://www.fdic.gov/news/news/financial/2004/index.html. To learn how to automatically
receive FDIC Financial Institution Letters through e-mail, please
visit http://www.fdic.gov/news/news/announcements/index.html.
Fred S. Selby Michael E. Bartell
Director CIO and Director
Division of Finance Division of Information Resources Management
Attachment:
• June 8, 2004, Federal Register, pages 31922-31927 - PDF 70k
Distribution: All Insured Banks and Savings Associations
NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC’s
Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-
3342 or (703) 562-2200).Inactive