[Federal Register Volume 73, Number 221 (Friday, November 14, 2008)]
[Proposed Rules]
[Pages 67423-67424]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-26972]


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FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Part 327

RIN 3064-AD35


Assessments

AGENCY: Federal Deposit Insurance Corporation.

ACTION: Proposed rule; extension of comment period.

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SUMMARY: On October 7, 2008, the Federal Deposit Insurance Corporation 
(FDIC) issued a notice of proposed rulemaking with request for comments 
on revisions to 12 CFR part 327 (see 73 FR 61560). The rulemaking 
proposed effective January 1, 2009, to raise the current assessment 
rates uniformly by seven basis points for the first quarter 2009 
assessment period only; effective April 1, 2009, alter the way in which 
the FDIC's risk-based assessment system differentiates for risk and 
again change

[[Page 67424]]

deposit insurance assessment rates; and also effective April 1, 2009, 
make technical and other changes to the rules governing the risk-based 
assessment system. The proposed rules were published for a 30-day 
comment period, which is scheduled to close on November 17, 2008. In 
order to afford interested parties additional time beyond the present 
30-day comment period to review the proposals with an April 1, 2009 
effective date, the FDIC is extending the period for public comment by 
30 days, that is, until December 17, 2008. The present 30-day comment 
period for the proposed seven basis point rate increase for the first 
quarter of 2009 only, with its separate proposed effective date of 
January 1, 2009, is not extended and will expire on November 17, 2008.

DATES: Comments must be received on or before December 17, 2008.

ADDRESSES: You may submit comments, identified by RIN number, by any of 
the following methods:
     Agency Web Site: http://www.fdic.gov/regulations/laws/federal/propose.html. Follow instructions for submitting comments on 
the Agency Web Site.
     E-mail: [email protected]. Include the RIN number in the 
subject line of the message.
     Mail: Robert E. Feldman, Executive Secretary, Attention: 
Comments, Federal Deposit Insurance Corporation, 550 17th Street, NW., 
Washington, DC 20429
     Hand Delivery/Courier: Guard station at the rear of the 
550 17th Street Building (located on F Street) on business days between 
7 a.m. and 5 p.m.
    Instructions: All submissions received must include the agency name 
and RIN for this rulemaking. All comments received will be posted 
without change to http://www.fdic.gov/regulations/laws/federal/propose.html including any personal information provided.

FOR FURTHER INFORMATION CONTACT: Munsell W. St. Clair, Chief, Banking 
and Regulatory Policy Section, Division of Insurance and Research, 
(202) 898-8967; and Christopher Bellotto, Counsel, Legal Division, 
(202) 898-3801.

SUPPLEMENTARY INFORMATION: In its notice of proposed rulemaking (73 FR 
61560), the FDIC proposes to improve the way the assessment system 
differentiates risk among insured institutions by drawing upon measures 
of risk that were not included when the FDIC first revised its 
assessment system pursuant to the Federal Deposit Insurance Reform Act 
of 2005 and the Federal Deposit Insurance Reform Conforming Amendments 
Act of 2005 (collectively, the Reform Act).\1\ The proposal will make 
the assessment system more sensitive to risk and the risk-based 
assessment system fairer, by limiting the subsidization of riskier 
institutions by safer ones. In addition, the FDIC proposes to change 
assessment rates, including base assessment rates, and to raise 
assessment revenue as required under the FDIC's October 7, 2008 
Restoration Plan (73 FR 61598).
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    \1\ Federal Deposit Insurance Reform Act of 2005, Public Law 
109-171, 120 Stat. 9; Federal Deposit Insurance Conforming 
Amendments Act of 2005, Public Law 109-173, 119 Stat. 3601.
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    In this rulemaking, the FDIC requested comment on proposed rules 
that would (1) effective January 1, 2009, raise current assessment 
rates uniformly by seven basis points for the first quarter 2009 
assessment period only; (2) effective April 1, 2009, alter the way in 
which the risk-based assessment system differentiates for risk and 
again change deposit insurance assessment rates; and (3) also effective 
April 1, 2009, make technical and other changes to the rules governing 
the risk-based assessment system. The proposed rules were published on 
October 16, 2008, for a 30-day comment period, which is scheduled to 
close on November 17, 2008.
    To afford interested parties additional time beyond the present 30-
day comment period to review only those portions of the proposal that 
would become effective April 1, 2009 (items (2) and (3) above), the 
FDIC is extending the period for public comment by 30 days. In light of 
this determination, the FDIC is providing the public additional time to 
comment on these aspects of the proposal, and requests that you submit 
your comments by December 17, 2008.
    The present 30-day comment period for the proposed seven basis 
point rate increase for the January 2009 assessment period only, which 
has a separate proposed effective date of January 1, 2009, is not 
extended and will expire as originally provided on November 17, 2008.

    Dated at Washington DC, this 7th day of November 2008.

    By order of the Board of Directors.

Federal Deposit Insurance Corporation.
Valerie J. Best,
Assistant Executive Secretary.
 [FR Doc. E8-26972 Filed 11-13-08; 8:45 am]
BILLING CODE 6714-01-P