Subject: Request for Change of Assessment Risk Classification
By letter dated July 30, 2001, you requested a change to the capital
group of the assessment risk classification assigned to [Bank] (“Bank”), for
the semiannual assessment period that began on July 1, 2001.
At its meeting held on January 28, 2002, the Federal Deposit Insurance
Corporation’s (“FDIC”) Assessment Appeals Committee (“Committee”) considered
your request and determined that it should be granted. The committee
determined that the Bank had an agreement with the FDIC regarding its
capital group which included an understanding that the Bank would be treated
as if it were well capitalized for purposes of the semiannual period that
began on July 1, 2001, because the Bank:
1. Communicated with the FDIC’s Division of Supervision in December
2001 regarding its capital position relative to planned future
2. Reached an agreement regarding the maintenance of its existing capital
group with the FDIC prior to the capital cut-off date associated with the
semiannual assessment period in question;
3. Acted in reliance on that agreement;
4. Had at all relevant times the ability and willingness to maintain its
existing capital group; and
5. Was well capitalized, as defined by Part 327 of the FDIC’s Rules and
Regulations (12 CFR Part 327), during the semiannual periods preceding and
following the one at issue in this request.
Therefore, the assessment risk classification assigned to the Bank will
be changed from “3A” to “1A” for the semiannual assessment period beginning
July 1, 2001.
You may contact Ms. Cheryl Timmons, Chief, Assessment Operations Section
of the FDIC’s Division of Finance at (202) 416-7546 with questions on the
method and timing of any refunds or credits that result from this action.