Scott Gottlieb, CPA


105 Maxess Road, Suite N116
Melville, New York 11747

Office: 631-574-4484 or 631-253-CPA2
scott@gottliebcpa.com

 
 
631-574-4484 phone
631-253-0909
facsimile
American Institute of CPA'S
Member of BNI
Certified Quickbooks Pro Advisor
Registered In NY

certified quickbooks proadvisor
  For My Clients
  City/State/Federal Tax Forms & Revenue Links
  IRS Information For All
  NYC Business Forms
  State Business Forms
  Federal Business Forms
  Calculators
  Quickbook Updates
  Home
  Links of Interest
  U.S. Tax Code
  Tax & Government Links
  Tax Humor & History
  Contact Us
  Weather
  Home
 
  Articles & News
  Current Article
  Archived Tax Articles
  American Recovery
Reinvestment Act 2009
  Archives Interest Sites
 

Balance Budget Act 1997

 

Never Underestimate the Value of A CPA


scott@gottliebcpa.com

Pet Adoption

 

 

 

 

 

 

 

 

 

NEWS BYTES
July 2006

FDIC Proposes New Risk-Based Insurance Assessment System

fdic.gov


The FDIC's Board of Directors today approved for public comment two proposed rules governing deposit insurance assessments under the Federal Deposit Insurance Reform Act of 2005. One proposal would create a new system that would more closely tie what banks pay for deposit insurance to the risks they pose. It also would adopt a new base schedule of rates that the FDIC Board could adjust up or down, depending upon the revenue needs of the insurance fund. The second proposal issued today would continue to set the designated reserve ratio (DRR) for the fund at 1.25 percent of estimated insured deposits.

"The proposed new system of risk-based assessments would allow the FDIC to adhere more closely to sound insurance principles because the safer an institution is, the less it will pay for deposit insurance," said FDIC Chairman Sheila Bair. "We hope that most FDIC-insured institutions will find our proposals reasonable and fair, and we look forward to receiving comments."

Comments on the proposed rules are due within 60 days of publication in the Federal Register, which is expected to occur within a week.

In a related action, the FDIC Board also issued for comment a proposed new official sign for institutions to display at teller stations and elsewhere. The proposal also would, for the first time, require both banks and savings associations to use the same sign and rules for advertising FDIC membership. Comments on this proposed rule are also due within 60 days of publication in the Federal Register.

The proposed rules issued today are in addition to three others governing deposit insurance assessments that the Board approved for public comment on May 9, including a proposed rule that would allocate a one-time $4.7 billion assessment credit among insured institutions. Comments on these earlier published rules are due August 16, 2006.

The Reform Act requires the FDIC to prescribe final regulations in these areas by November 5, 2006.

 

 

 

 

 

1997-2009 Scott Gottlieb, CPA. All Rights Reserved.

Disclaimer/Use of Site

The materials on this Web site are for informational purposes only and are not intended and should not be construed as accounting advice. This information is not intended to create, and receipt of it does not constitute, a CPA-Client relationship. You should not act upon this information without seeking counsel from a Certified Public Accountant