The proposed amendment to Rule 69U-140.020, F.A.C., creates additional monetary assessment tiers to extend declining assessments rates for agencies with assets from $2.5B up to and exceeding $10B. This will generally reduce the assessments due for ...

 

DEPARTMENT OF FINANCIAL SERVICES

FSC - Financial Institution Regulation

RULE NO.:RULE TITLE:

69U-140.020Semiannual Assessment

PURPOSE AND EFFECT: The proposed amendment to Rule 69U-140.020, F.A.C., creates additional monetary assessment tiers to extend declining assessments rates for agencies with assets from $2.5B up to and exceeding $10B. This will generally reduce the assessments due for international agencies with assets exceeding $2.5B. Currently, the rule provides for declining assessments until reaching a flat assessment rate for agencies with total assets over $1B. The proposed rule amendment also corrects a mathematical error in the calculation of the base assessments for the current monetary assessment tiers from $500M to $2.5B and includes the statutory minimum assessment and late payment penalty amounts.

SUBJECT AREA TO BE ADDRESSED: Financial Institution Regulation – International Banking Agency Semiannual Assessment.

RULEMAKING AUTHORITY: 655.012(2), 663.12, 663.13 FS.

LAW IMPLEMENTED: 663.12 FS.

IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE NOTICED IN THE NEXT AVAILABLE FLORIDA ADMINISTRATIVE REGISTER.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Jeffrey D. Jones, [phone], [e-mail]

THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS NOT AVAILABLE.