Federal Deposit Insurance Corporation November 14, 2008 – Federal Register Recent Federal Regulation Documents

Document Number: E8-26972
Type: Proposed Rule
Date: 2008-11-14
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
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 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.