Current through Reg. 49, No. 38; September 20, 2024
(a) Bank assessment
calculation table. The annual assessment for a state bank is calculated as
described in this section and paid as provided by §
3.36 of this title (relating to
Annual Assessments and Specialty Examination Fees), based on the values in the
following table, as such values may be periodically adjusted in the manner
provided by subsection (b) of this section. Certain terms used in this section
and in the following table are defined in §3.36(b).
Attached Graphic
(b) Adjustments for inflation. In
this section, "GDPIPD" means the Gross Domestic Product Implicit Price
Deflator, published quarterly by the Bureau of Economic Analysis, United States
Department of Commerce. The "annual GDPIPD factor" is equal to the percentage
change in the GDPIPD index values published for the first quarter of the
current year compared to the first quarter of the previous year (the
March-to-March period immediately preceding the calculation date), rounded to a
hundredth of a percent (two decimal places).
(1) Each September 1, the table in subsection
(a) of this section, as most recently revised before such date pursuant to this
subsection, may be revised as follows:
(A)
each marginal assessment factor listed in Step 3 of the table is increased (or
decreased) by an amount proportionate to the measure of inflation (or
deflation) reflected in the annual GDPIPD factor, rounded to six decimal
places;
(B) the base assessment
amount listed in Step 4 for assessable asset group 1 is increased (or
decreased) by an amount proportionate to the measure of inflation (or
deflation) reflected in the annual GDPIPD factor, rounded to whole dollars;
and
(C) each base assessment amount
listed in Step 4 for assessable asset groups 2 through 14 is adjusted to an
amount equal to the maximum annual assessment possible for the next lower
assessable asset group (without surcharge), rounded to whole dollars. For
example, the base assessment amount for assessable asset group 2 is equal to
the annual assessment (without surcharge) calculated under assessable asset
group 1 for a bank with exactly $10 million in assessable assets.
(2) If the table in subsection (a)
of this section is revised for inflation (or deflation), then not later than
August 1 of each year, the department shall calculate and prepare a revised
table reflecting the inflation-adjusted values to be applied effective the
following September 1, and shall provide each state bank with notice of and
access to the revised table. At least once every four years, the department
shall propose amendments to this section for the purpose of substituting a
current revised table in subsection (a) of this section, and for such other
purposes as may be appropriate.
