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Financial Institution Letters


Deposit Insurance Assessments

FIL-40-95
June 16, 1995

 

TO: CHIEF EXECUTIVE OFFICER
SUBJECT: First Installment Payment for the Risk-Related Insurance
Premium for the Semiannual Period Beginning July 1, 1995
ATTENTION: Processor of the FDIC Quarterly Assessment Invoice -
(Period DP-1)

In accordance with the new, automated system of quarterly assessment collections approved by the FDIC's Board of Directors on December 20, 1994 (see FIL-4-95: Financial Institution Letters: dated January 5, 1995), the FDIC on May 30, 1995, mailed your institution's deposit insurance quarterly assessment invoice.

The invoice, addressed to the Chief Executive Officer (CEO), represents the first of two quarterly installment payments for the semiannual period beginning on July 1, 1995. This invoice also shows your institution's risk classification for the semiannual assessment period of July 1, 1995, through December 31, 1995. (Please note that separate mailings announcing the risk classification assignment for a given semiannual period have been eliminated.)

Institutions need to take the following actions to complete the assessment payment process: (1) Verify the information on the invoice as described below, and (2) Ensure that the amount required to satisfy the invoice is available for direct debit on June 30, 1995, also described below.

  1. Reviewing the invoice for accuracy. The invoice shows that an assessment base has been determined for your institution from your March 31, 1995, Report of Condition and Income, or your March 31, 1995, Thrift Financial Report. The assessment base has been multiplied by the quarterly assessment rate applicable to your institution's risk classification. Line 60 of your invoice reflects the amount that is due on June 30, 1995. This amount will be direct debited using the Routing Transit Number (RTN) and Account Number your institution provided to the FDIC. The RTN and Account Number are reflected on lines 57 and 58 of the invoice.

  2. Ensuring funds are available for payment. Institutions shall ensure that funds at least equal to the invoice amount are available in the designated account for the June 30, 1995, direct debit by the Corporation. Failure to provide funding of the amount shall be deemed to constitute nonpayment of the assessment. Please ensure that your institution's authorized account is funded, in a timely manner, for the amount due as shown on Section V, line 60, of the invoice.

Payment Requirement

In accordance with Section 327.3 of the FDIC Rules and Regulations, payment will be accepted via ACH Direct Debit only.

Request for Duplicate Invoice

If you did not receive your invoice and you wish to receive a duplicate, please fax your request to the Assessment Operations Section (AOS) at any of the following fax numbers:

     (703) 516-5327     (703) 516-5446     (703) 516-5039
Your request should contain the following information: Institution Name, 5 digit FDIC Certificate Number, Contact Name and Title, Telephone Number, and Fax Number.

If you prefer to send an E-Mail request for a duplicate invoice via the Internet, please send your request to Melinda Salisbury of the AOS. When addressing your request, enter your institution's E-Mail Gateway address followed by:

     [msalisbury@fdic.gov]
Please note, there should be no space between the last letter of your Gateway address and the first square bracket.

Risk Classification

If you have questions or concerns regarding your Risk Classification as reflected on the invoice, contact the FDIC's Risk-Related Premium Unit at the number given below.

Mergers and Acquisitions

If your institution acquired or merged with another institution during the period April 1 through June 30, 1995, please contact the AOS at the number given below to obtain a copy of the FDIC Merger/Acquisition Worksheet for Period DP-1.

Additional Information & Assistance

For additional assistance, please call the FDIC's Deposit Insurance Assessment Information Line toll-free (800-759-6596) or 202-898-7090 (in the Washington, D.C. area) between 8:30 a.m. and 4:30 p.m. Eastern Time.

Allan K. Long
Assistant Director, Treasury Branch

Distribution: Insured Banks and Savings Associations

Last Updated 07/16/1999 communications@fdic.gov