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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

FICO Assessment

Overview

The Financing Corporation (FICO), established by the Competitive Equality Banking Act of 1987, is a mixed-ownership government corporation whose sole purpose was to function as a financing vehicle for the Federal Savings & Loan Insurance Corporation (FSLIC). Effective December 12, 1991, as provided by the Resolution Trust Corporation Refinancing, Restructuring and Improvement Act of 1991, the FICO's ability to issue new debt was terminated. Outstanding FICO bonds, which are 30-year noncallable bonds with a principal amount of approximately $8.1 billion, mature in 2017 through 2019.

The FICO has assessment authority, separate from the FDIC's authority to assess risk-based premiums for deposit insurance, to collect funds from FDIC-insured institutions sufficient to pay interest on FICO bonds. The FDIC acts as collection agent for the FICO. The Deposit Insurance Funds Act 1996 (DIFA) authorized the FICO to assess both BIF- and SAIF-insured deposits, and require the BIF rate to equal one-fifth the SAIF rate through year-end 1999, or until the insurance funds are merged, whichever occurs first. Since the first quarter of 2000, all FDIC-insured deposits have been assessed at the same rate by FICO. Effective March 31, 2006, the BIF and SAIF were merged into the newly created Deposit Insurance Fund (DIF).

The FICO assessment rate is adjusted quarterly to reflect changes in the assessment base as determined from the quarterly Call Report submissions. The FICO rates for each quarterly collection since enactment of DIFA are presented below. The rate reduction beginning with the fourth quarter of 2011 reflects the change from an assessment base computed on deposits to an assessment base computed on assets as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

FICO Rates
(annual rates, expressed in basis points)
Quarter / year Invoice Payment Date DIF* BIF* SAIF*
Third Quarter 2014 Monday, June 30, 2014 0.620    
Second Quarter 2014 Friday, March 28, 2014 0.620    
First Quarter 2014 Monday, December 30, 2013 0.620    
Fourth Quarter 2013 Monday, September 30, 2013 0.640    
Third Quarter 2013 Friday, June 28, 2013 0.640    
Second Quarter 2013 Friday, March, 29, 2013 0.640    
First Quarter 2013 Friday, December 28, 2012 0.640    
Fourth Quarter 2012 Friday, September 28, 2012 0.660    
Third Quarter 2012 Friday, June 29, 2012 0.660    
Second Quarter 2012 Friday, March 30, 2012 0.660    
First Quarter 2012 Friday, December 30, 2011 0.660    
Fourth Quarter 2011 Friday, September 30, 2011 0.680    
Third Quarter 2011 Thursday, June 30, 2011 1.000    
Second Quarter 2011 Wednesday, March 30, 2011 1.000    
First Quarter 2011 Thursday, December 30, 2010 1.020    
Fourth Quarter 2010 Thursday, September 30, 2010 1.040    
Third Quarter 2010 Wednesday, June 30, 2010 1.040    
Second Quarter 2010 Tuesday, March 30, 2010 1.040    
First Quarter 2010 Wednesday, December 30, 2009 1.060    
Fourth Quarter 2009 Wednesday, September 30, 2009 1.020    
Third Quarter 2009 Tuesday, June 30, 2009 1.040    
Second Quarter 2009 Monday, March 30, 2009 1.040    
First Quarter 2009 Tuesday, December 30, 2008 1.140    
Fourth Quarter 2008 Tuesday, September 30, 2008 1.100    
Third Quarter 2008 Monday, June 30, 2008 1.120    
Second Quarter 2008 Friday, March 28, 2008 1.120    
First Quarter 2008 Friday, December 28, 2007 1.140    
Fourth Quarter 2007 Friday, September 28, 2007 1.140    
Third Quarter 2007 Friday, June 29, 2007 1.140    
Second Quarter 2007 Friday, March 30, 2007 1.220    
First Quarter 2007 Tuesday, January 02, 2007 1.220    
Fourth Quarter 2006 Friday, September 29, 2006 1.240    
Third Quarter 2006 Friday, June 30, 2006 1.260    
Second Quarter 2006 Thursday, March 30, 2006 1.280    
First Quarter 2006 Tuesday, January 03, 2006 1.320    
Fourth Quarter 2005 Friday, September 30, 2005   1.340 1.340
Third Quarter 2005 Thursday, June 30, 2005   1.340 1.340
Second Quarter 2005 Wednesday, March 30, 2005   1.420 1.420
First Quarter 2005 Monday, January 03, 2005   1.440 1.440
Fourth Quarter 2004 Thursday, September 30, 2004   1.460 1.460
Third Quarter 2004 Wednesday, June 30, 2004   1.480 1.480
Second Quarter 2004 Tuesday, March 30, 2004   1.540 1.540
First Quarter 2004 Friday, January 02, 2004   1.540 1.540
Fourth Quarter 2003 Tuesday, September 30, 2003   1.520 1.520
Third Quarter 2003 Monday, June 30, 2003   1.600 1.600
Second Quarter 2003 Friday, March 28, 2003   1.620 1.620
First Quarter 2003 Thursday, January 02, 2003   1.680 1.680
Fourth Quarter 2002 Monday, September 30, 2002   1.700 1.700
Third Quarter 2002 Friday, June 28, 2002   1.720 1.720
Second Quarter 2002 Friday, March 29, 2002   1.760 1.760
First Quarter 2002 Wednesday, January 02, 2002   1.820 1.820
Fourth Quarter 2001 Friday, September 28, 2001   1.840 1.840
Third Quarter 2001 Friday, June 29, 2001   1.880 1.880
Second Quarter 2001 Friday, March 30, 2001   1.900 1.900
First Quarter 2001 Tuesday, January 02, 2001   1.960 1.960
Fourth Quarter 2000 Friday, September 29, 2000   2.020 2.020
Third Quarter 2000 Friday, June 30, 2000   2.060 2.060
Second Quarter 2000 Thursday, March 30, 2000   2.080 2.080
First Quarter 2000 Monday, January 03, 2000   2.120 2.120
Fourth Quarter 1999 Thursday, September 30, 1999   1.184 5.920
Third Quarter 1999 Wednesday, June 30, 1999   1.160 5.800
Second Quarter 1999 Tuesday, March 30, 1999   1.176 5.880
First Quarter 1999 Monday, January 04, 1999   1.220 6.100
Fourth Quarter 1998 Wednesday, September 30, 1998   1.164 5.820
Third Quarter 1998 Tuesday, June 30, 1998   1.220 6.100
Second Quarter 1998 Monday, March 30, 1998   1.244 6.220
First Quarter 1998 Friday, January 02, 1998   1.256 6.280
Fourth Quarter 1997 Tuesday, September 30, 1997   1.264 6.320
Third Quarter 1997 Monday, June 30, 1997   1.260 6.300
Second Quarter 1997 Friday, March 28, 1997   1.300 6.500
First Quarter 1997 Thursday, January 02, 1997   1.296 6.480

* Effective March 31, 2006, the BIF and SAIF were merged into the newly created Deposit Insurance Fund (DIF).