PERMANENT RULES
FINANCIAL INSTITUTIONS
Date of Adoption: May 23, 2001.
Purpose: To increase fees and assessments paid by banks, thrifts, and other entities regulated by the Division of Banks in an amount up to the "fiscal growth factor." Rule allows a waiver of fees and assessments, if certain conditions are met.
Citation of Existing Rules Affected by this Order: Repealing WAC 208-586-135, 208-544-037 and 208-544-050; and amending chapters 208-544 and 208-586 WAC.
Statutory Authority for Adoption: RCW 30.04.030, 33.04.025, 43.320.040.
Adopted under notice filed as WSR 01-07-081 on March 21, 2001 (published on April 4, 2001).
Changes Other than Editing from Proposed to Adopted Version: The proposed rules provided for the removal of the cap on assessment fees and an automatic annual increase on July 1, 2001, and every July 1 thereafter, up to the amount of the fiscal growth factor for that fiscal year, as allowed under Initiative 601. The final rules leave the cap on assessment fees in place and limit the number of annual fee increases to two: One on July 1, 2001, and one on July 1, 2002.
Number of Sections Adopted in Order to Comply with Federal Statute: New 0, Amended 0, Repealed 0; Federal Rules or Standards: New 0, Amended 0, Repealed 0; or Recently Enacted State Statutes: New 0, Amended 0, Repealed 0.
Number of Sections Adopted at Request of a Nongovernmental Entity: New 0, Amended 0, Repealed 0.
Number of Sections Adopted on the Agency's Own Initiative: New 2, Amended 2, Repealed 2.
Number of Sections Adopted in Order to Clarify, Streamline, or Reform Agency Procedures: New 0, Amended 0, Repealed 0.
Number of Sections Adopted Using Negotiated Rule Making:
New 0,
Amended 0,
Repealed 0;
Pilot Rule Making:
New 0,
Amended 0,
Repealed 0;
or Other Alternative Rule Making:
New 0,
Amended 0,
Repealed 0.
Effective Date of Rule:
July 1, 2001.
May 23, 2001
John L. Bley
Director
OTS-4716.3
AMENDATORY SECTION(Amending WSR 01-06-024, filed 2/27/01,
effective 3/30/01)
WAC 208-544-039
Charges and fees effective July 1, ((1999))
2001.
The division intends to increase the rate of its charges
and fees each year for several bienniums. The division intends
to initiate a rule making for this purpose each biennium. This
rule provides for an automatic annual increase in the rate of
charges and fees each fiscal year during the 2001-03 biennium.
(1) Effective July 1, ((1999)) 2001, the rate of charges and
fees under WAC 208-512-045, 208-544-020 and 208-544-030 shall be
as follows:
(a) WAC 208-512-045 (1)(c) and (d) - The fee shall be $100.00 for the issuance and filing of certificates.
(b) WAC 208-512-045 (1)(e) - The fee shall be 50 cents per page.
(c) WAC 208-512-045(2) - The fee shall be $((96.87)) 102.43
per employee hour expended.
(d) WAC 208-544-020(1) - The rates shall be the following:
| If total assets are: | The assessment is: | ||||
| Over | But not Over |
This Amount | Plus | Of Excess Over |
|
| Million | Million | Million | |||
| 0 | 500 | 0 | (( |
0 | |
| 500 | 1,000 | (( |
(( |
500 | |
| 1,000 | 10,000 | (( |
(( |
1,000 | |
| 10,000 | (( |
.000 | 10,000 | ||
(f) WAC 208-544-030(1) - The fee shall be $((69.95)) 73.95
per hour.
(g) WAC 208-544-030(2) - The fee shall be $((96.87)) 102.43
per hour.
(2) ((Thereafter, effective July 1, 2000, and again on July
1, 2001, the charges and fees set forth in subsection (1)(c),
(d), (e), (f), and (g) of this section shall be increased by the
fiscal growth factor as determined by the office of financial
management pursuant to RCW 43.135.025.)) (a) On July 1, 2002, the
rate of charges and fees under subsection (1)(c), (d), (e), (f),
and (g) of this section, as increased in the prior fiscal year,
will increase by a percentage rate equal to the fiscal growth
factor for the then current fiscal year. As used in this
section, "fiscal growth factor" has the same meaning as the term
is defined in RCW 43.135.025.
(b) The director may round off a rate increase under this subsection. However, no rate increase may exceed the applicable fiscal growth factor.
(c) By June 1 of each year the director will make available a chart of the new rates that will take effect on the immediately following July 1.
(3) The director may ((suspend the collection of)) waive any
or all of the charges and/or fees imposed under this section, in
whole or in part, when he or she determines that both of the
following factors are present:
(a) The banking ((examination fund established in RCW 43.320.110)) program fund exceeds the projected acceptable
minimum fund balance level approved by the office of financial
management (OFM); and
(b) That such course of action would be fiscally prudent.
(4)(a) If the charges and fees assessed under WAC 208-544-020(1) relating to a semiannual asset charge and WAC 208-544-030(1) relating to the hourly examination fee exceed ninety-five percent of the charges and fees applicable for a two-year period of the comparable federal chartering regulator (CFCR) or its successor then the charges and fees paid in excess of such amount shall be rebated to the institution pursuant to (d) of this subsection unless abated by the director as provided in (e) of this subsection.
(b) For purposes of determining rebate entitlement, the total of semiannual asset charges and examination fees will be determined by adding the monthly average semiannual asset charge and the monthly average examination fee for any twenty-four month period beginning on or after July 1, 2000. The monthly average semiannual asset charge is determined by dividing the semiannual asset charges by six and applying the monthly average to the previous six months. The monthly average examination fee is determined by dividing the examination fee for each examination during the averaging period by the number of months between each such examination and the previous examination as determined by the date of the examinations and applying the monthly average to those months. The CFCR charge is determined in the same manner. Under no circumstances will an institution be permitted to calculate a rebate based on a period of time that was included, in whole or in part, in the calculation of another rebate under this section.
(c) The rebate is determined by the difference between the sum of the applicable monthly average state charges and fees for the twenty-four month period minus ninety-five percent of the sum of the applicable monthly average CFCR charges and fees for the same period, as each are determined in (b) of this subsection.
(d) Entitlement of the rebate will occur only upon petition and satisfactory proof to the director.
(e) Rebate abatement. At the discretion of the director, all or part of the rebate determined under (d) of this subsection may be denied if the director determines that:
(i) The institution required a substantially greater than average amount of supervisory time for reasons other than as a result of economic, legal, regulatory, or other conditions beyond the control of competent management;
(ii) The institution required a substantially greater than average amount of examination time for an institution of its size for reasons other than as a result of economic, legal, regulatory, or other conditions beyond the control of competent management;
(iii) Examinations or investigations were performed by third parties under personal services contracts;
(iv) The banking program fund does not exceed the projected acceptable minimum fund balance level approved by OFM or is insufficient to satisfy the rebates under this subsection and still maintain the operations of the department at a fiscally prudent level;
(v) The institution maintained a composite uniform financial institution rating (CAMELS) of 3, 4 or 5 during any time during the rebate period; or
(vi) Such other factors as the director may deem equitable or relevant.
(f) Institutions may become eligible to receive a rebate after June 30, 2002, for amounts paid on or after July 1, 2000.
[Statutory Authority: RCW 30.04.030 and 43.320.040. 01-06-024, 208-544-039, filed 2/27/01, effective 3/30/01; 00-17-141, recodified as 208-544-039, filed 8/22/00, effective 9/22/00. Statutory Authority: RCW 30.04.030, 30.04.070, 30.08.095, 33.04.025 and 43.320.040. 99-10-024, 50-44-039, filed 4/28/99, effective 6/25/99.]
The following sections of the Washington Administrative Code are repealed:
| WAC 208-544-037 | Charges and fees effective June 25, 1999. |
| WAC 208-544-050 | Limitations on assessments. |
OTS-4717.3
AMENDATORY SECTION(Amending WSR 01-06-024, filed 2/27/01,
effective 3/30/01)
WAC 208-586-140
Charges and fees effective July 1, ((1999))
2001.
The division intends to increase the rate of its charges
and fees each year for several bienniums. The division intends
to initiate a rule making for this purpose each biennium. This
rule provides for an automatic annual increase in the rate of
charges and fees each fiscal year during the 2001-03 biennium.
(1) Effective July 1, ((1999)) 2001, the rate of charges and
fees under chapters 208-586 and 208-594 WAC shall be as follows:
(a) WAC 208-586-030(1) - The fee shall be $((43.05)) 45.51
per hour.
(b) WAC 208-586-030(2) - The fee shall be $((48.43)) 51.19
per hour.
(c) WAC 208-586-030(3) - The fee shall be $((53.81)) 56.89
per hour.
(d) WAC 208-586-040 - The asset charge shall be ((.0322916))
0.0348046 per thousand dollars of assets.
(e) WAC 208-586-075 - The fee shall be $2,500.00 for the first branch and $500.00 for each additional branch.
(f) WAC 208-586-080 - The fee shall be $50.00 for the home office and each branch.
(g) WAC 208-586-090 - The fee shall be $((64.57)) 68.27 per
hour.
(h) WAC 208-586-100 - The fee shall be $((53.81)) 56.89 per
hour.
(i) WAC 208-586-110 - The fee shall be $((53.81)) 56.89 per
hour.
(j) WAC 208-586-120 - The fee shall be $5,000.00.
(k) WAC 208-594-070 - The fee shall be $1,000.00.
(2) ((Thereafter, effective July 1, 2000, and again on July
1, 2001, the charges and fees set forth in subsection (1)(a),
(b), (c), (d), (g), (h), and (i) of this section shall be
increased by the fiscal growth factor as determined by the office
of financial management pursuant to RCW 43.135.025.)) (a) On July
1, 2002, the rate of charges and fees under subsection (1)(a),
(b), (c), (d), (g), (h), and (i) of this section, as increased in
the prior fiscal year, will increase by a percentage rate equal
to the fiscal growth factor for the then current fiscal year. As
used in this section, "fiscal growth factor" has the same meaning
as the term is defined in RCW 43.135.025.
(b) The director may round off a rate increase under this subsection. However, no rate increase may exceed the applicable fiscal growth factor.
(c) By June 1 of each year, the director will make available a chart of the new rates that will take effect on the immediately following July 1.
(3) The director may ((suspend the collection of)) waive any
or all of the charges and/or fees imposed under this section, in
whole or in part, when he or she determines that both of the
following factors are present:
(a) The banking ((examination fund established in RCW 43.320.110)) program fund exceeds the projected acceptable
minimum fund balance level approved by the office of financial
management; and
(b) That such course of action would be fiscally prudent.
[Statutory Authority: RCW 30.04.030 and 43.320.040. 01-06-024, 208-586-140, filed 2/27/01, effective 3/30/01. Statutory Authority: RCW 33.04.025 and 43.320.040. 00-17-140, recodified as 208-586-140, filed 8/22/00, effective 9/22/00. Statutory Authority: RCW 30.04.030, 30.04.070, 30.08.095, 33.04.025 and 43.320.040. 99-10-024, 419-14-140, filed 4/28/99, effective 6/25/99.]
The following section of the Washington Administrative Code is repealed:
| WAC 208-586-135 | Charges and fees effective June 25, 1999. |