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Federal Deposit
Insurance Corporation

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

Deposit Insurance Assessments

 

Penalties

The FDI Act provides for a penalty for an institution’s failure to make an assessment payment on the due date. An institution that fails to timely pay an assessment of $10,000.00 or more is subject to a penalty of not more than 1 percent of the late assessment amount due for each day that the assessment is unpaid. An institution that fails to timely pay an assessment of less than $10,000.00 is subject to a limited penalty per day for each day that the assessment is unpaid. Penalties are computed from the day after the original payment settlement date through and including the date of final payment settlement. For more information, please see 12 U.S.C. § 1828(h) and 12 CFR 308.132.

Late Interest Charges

Daily interest (to compensate for the time value of money) is paid on overpayments and charged on underpayments of assessments. The overpayment or underpayment amount plus accrued interest will appear in the adjustment section of an upcoming quarterly invoice for the applicable institution. The interest rate charged for a quarter is the coupon equivalent yield of the average discount rate set on the 3-month Treasury bill at the last auction held by the United States Treasury Department during the preceding quarter. Generally, interest is applied from the day after the date the original assessment was due up through the date the assessment underpayment or overpayment is settled. For more information, see 12 CFR part 327.7.

To allow banks to estimate interest on a prior period adjustment, the FDIC is making available a spreadsheet (“Interest Estimator”) on which a bank may enter its originally reported and amended information. The Interest Estimator contains interest rate information going back three years and will estimate the interest that will apply based on information that a bank enters.

Download the Interest Estimator updated as of February 9, 2017.
Disclaimer: The Interest Estimator does not purport to predict actual interest amounts for underpayments or overpayments and should not be so construed. The purpose of this workbook is to allow an institution to estimate the interest amount on an overpayment or underpayment.

Interest Rates

Interest Rates
(Expressed as a percentage)
  Days Covered  
Quarter / year The Day After Through Interest Rate
Third Quarter 2016 December 30, 2016 March 30, 2017
0.56%
Second Quarter 2016 September 30, 2016 December 30, 2016
0.25%
First Quarter 2016 June 30, 2016 September 30, 2016
0.26%
Fourth Quarter 2015 March 30, 2016 June 30, 2016
0.30%
Third Quarter 2015 December 30, 2015 March 30, 2016
0.27%
Second Quarter 2015 September 30, 2015 December 30, 2015
0.02%
First Quarter 2015 June 30, 2015 September 30, 2015
0.02%
Fourth Quarter 2014 March 30, 2015 June 30, 2015
0.04%
Third Quarter 2014 December 30, 2014 March 30, 2015
0.04%
Second Quarter 2014 September 30, 2014 December 30, 2014
0.02%
First Quarter 2014 June 30, 2014 September 30, 2014
0.04%
Fourth Quarter 2013 March 28, 2014 June 30, 2014
0.05%
Third Quarter 2013 December 30, 2013 March 28, 2014
0.07%

 

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