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Federal Register / Vol. 86, No. 36 / Thursday, February 25, 2021 / Rules and Regulations TABLE 1 TO PARAGRAPH h Softwood lumber by HTSUS number 4407.11.00
4407.12.00
4407.19.05
4407.19.06
4407.19.10
4409.10.05
4409.10.10
4409.10.20
4409.10.90
4418.99.10

Assessment $/cubic meter
Assessment $/square meter
0.1737
0.1737
0.1737
0.1737
0.1737
0.1737
0.1737
0.1737
0.1737
0.1737

0.004412
0.004412
0.004412
0.004412
0.004412
0.004412
0.004412
0.004412
0.004412
0.004412

Bruce Summers, Administrator, Agricultural Marketing Service.
FR Doc. 202103467 Filed 22421; 8:45 am BILLING CODE P

FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 327
RIN 3064AF65

Assessments, Amendments To Address the Temporary Deposit Insurance Assessment Effects of the Optional Regulatory Capital Transitions for Implementing the Current Expected Credit Losses Methodology Federal Deposit Insurance Corporation FDIC.
ACTION: Final rule.
AGENCY:

The Federal Deposit Insurance Corporation is adopting amendments to the risk-based deposit insurance assessment system applicable to all large insured depository institutions IDIs, including highly complex IDIs, to address the temporary deposit insurance assessment effects resulting from certain optional regulatory capital transition provisions relating to the implementation of the current expected credit losses CECL
methodology. The final rule removes the double counting of a specified portion of the CECL transitional amount or the modified CECL transitional amount, as applicable collectively, the CECL
transitional amounts, in certain financial measures that are calculated using the sum of Tier 1 capital and reserves and that are used to determine assessment rates for large or highly complex IDIs. The final rule also adjusts the calculation of the loss severity measure to remove the double counting of a specified portion of the CECL
transitional amounts for a large or highly complex IDI. This final rule does
SUMMARY:

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not affect regulatory capital or the regulatory capital relief provided in the form of transition provisions that allow banking organizations to phase in the effects of CECL on their regulatory capital ratios.
DATES: The final rule is effective April 1, 2021.
FOR FURTHER INFORMATION CONTACT:
Scott Ciardi, Chief, Large Bank Pricing, 202 8987079 or sciardi@fdic.gov;
Ashley Mihalik, Chief, Banking and Regulatory Policy, 202 8983793 or amihalik@fdic.gov; Nefretete Smith, Counsel, 202 8986851 or nefsmith@
fdic.gov; Sydney Mayer, Senior Attorney, 202 8983669 or smayer@
fdic.gov.
SUPPLEMENTARY INFORMATION:
I. Policy Objectives and Overview of Final Rule The Federal Deposit Insurance Act FDI Act requires that the FDIC
establish a risk-based deposit insurance assessment system for insured depository institutions IDIs.1
Consistent with this statutory requirement, the FDICs objective in finalizing this rule is to ensure that IDIs are assessed in a manner that is fair and accurate. In particular, the primary objective of this final rule is to remove a double counting issue in several financial measures used to determine deposit insurance assessment rates for large or highly complex banks, which could result in a deposit insurance assessment rate for a large or highly complex bank that does not accurately reflect the banks risk to the deposit insurance fund DIF, all else equal.2
The final rule amends the assessment regulations to remove the double 1 12 U.S.C. 1817b. As used in this final rule, the term insured depository institution has the same meaning as it is used in section 3c2 of the FDI
Act, 12 U.S.C. 1813c2. Pursuant to this requirement, the FDIC first adopted a risk-based deposit insurance assessment system effective in 1993 that applied to all IDIs. See 57 FR 45263 Oct.
1, 1992. The FDIC implemented this assessment system with the goals of making the deposit insurance system fairer to well-run institutions and encouraging weaker institutions to improve their condition, and thus, promote the safety and soundness of IDIs.
2 As used in this final rule, the term small bank is synonymous with small institution, the term large bank is synonymous with large institution, and the term highly complex bank is synonymous with highly complex institution, as the terms are defined in 12 CFR 327.8. For assessment purposes, a large bank is generally defined as an institution with $10 billion or more in total assets, a small bank is generally defined as an institution with less than $10 billion in total assets, and a highly complex bank is generally defined as an institution that has $50 billion or more in total assets and is controlled by a parent holding company that has $500 billion or more in total assets, or is a processing bank or trust company. See 12 CFR 327.8e, f, and g.

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counting of a portion of the CECL
transitional amounts, in certain financial measures used to determine deposit insurance assessment rates for large or highly complex banks. In particular, certain financial measures are calculated by summing Tier 1
capital, which includes the CECL
transitional amounts, and reserves, which already reflects the implementation of CECL. As a result, a portion of the CECL transitional amounts is being double counted in these measures, which in turn affects assessment rates for large or highly complex banks. The final rule also adjusts the calculation of the loss severity measure to remove the double counting of a portion of the CECL
transitional amounts for large or highly complex banks.
This final rule amends the deposit insurance system applicable to large banks and highly complex banks only, and it does not affect regulatory capital or the regulatory capital relief provided in the form of transition provisions that allow banking organizations to phase in the effects of CECL on their regulatory capital ratios.3 Specifically, in calculating another measure used to determine assessment rates for all IDIs, the Tier 1 leverage ratio, the FDIC will continue to apply the CECL regulatory capital transition provisions, consistent with the regulatory capital relief provided to address concerns that despite adequate capital planning, unexpected economic conditions at the time of CECL adoption could result in higher-than-anticipated increases in allowances.4
The FDIC did not receive any comment letters in response to the proposal and is adopting the proposed rule as final without change. Under this final rule, amendments to the deposit insurance assessment system and changes to regulatory reporting requirements will be applicable only while the regulatory capital relief described above, or any potential future amendment that may affect the 3 Banking organizations subject to the capital rule include national banks, state member banks, state nonmember banks, savings associations, and toptier bank holding companies and savings and loan holding companies domiciled in the United States not subject to the Federal Reserve Boards Small Bank Holding Company Policy Statement 12 CFR
part 225, appendix C, but exclude certain savings and loan holding companies that are substantially engaged in insurance underwriting or commercial activities or that are estate trusts, and bank holding companies and savings and loan holding companies that are employee stock ownership plans. See 12
CFR part 3 Office of the Comptroller of the Currency; 12 CFR part 217 Board; 12 CFR part 324 FDIC. See also 84 FR 4222 Feb. 14, 2019 and 85 FR 61577 Sept. 30, 2020.
4 See 84 FR 4225 Feb. 14, 2019.

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