|
Issued and entered June 28, 2002 by Frank M. Fitzgerald, Commissioner of Financial
and Insurance Services
This bulletin supersedes Bank Bulletin No. 2, dated July
1, 1999, and supervisory fee schedules previously issued pursuant to the
Michigan Savings Bank Act.
Section 2203 of the Michigan Banking Code of 1999 and Section 210 of
the Michigan Savings Bank Act require the Commissioner periodically to
establish a schedule of supervisory fees and require each bank and savings
bank to pay an annual supervisory fee. The following supervisory fee schedule
has been established by the Commissioner and is effective July 1, 2002.
Total Assets |
Annual Supervisory Fee |
Over
(millions) |
But less than
(millions) |
This amount |
Plus |
Of assets Over
(millions) |
| $ |
0 |
$ |
4 |
(Minimum fee = $1,000.00) |
4 |
20 |
1,000.00 |
.000159730 |
4 |
20 |
100 |
3,405.69 |
.000125049 |
20 |
100 |
200 |
13,409.64 |
.000081281 |
100 |
200 |
1,000 |
21,537.77 |
.000068768 |
200 |
1,000 |
2,000 |
76,551.81 |
.000056272 |
1,000 |
2,000 |
6,000 |
132,823.51 |
.000050020 |
2,000 |
6,000 |
20,000 |
332,903.31 |
.000042561 |
6,000 |
20,000 |
40,000 |
928,760.11 |
.000040038 |
20,000 |
40,000 |
|
1,729,528.11 |
.000035904 |
40,000 |
NOTE: MCL 487.12203(1) and 487.3210(1) limit the annual
supervisory fee to not more than 25 cents for each $1,000 of total assets
of the bank. This limitation does not apply to the minimum fee, established
this year at $1,000.00.
Holding company subsidiary banks and savings banks which are not the
lead banks in their holding companies will receive a 10% discount from
the fees scheduled above.
Section 2203(6) of the Banking Code of 1999 and Section 210(6) of the
Savings Bank Act require the Commissioner periodically to establish a
schedule of fees beyond those charged for normal supervision. Accordingly,
the Commissioner has established a surcharge, to be calculated as a percentage
of the annual supervisory fee, that will be assessed as follows to banks
and savings banks that have been rated by this agency or federal regulators
as composite CAMELS 3, 4, or 5.
| Composite CAMELS 3 |
10% |
| Composite CAMELS 4 |
25% |
| Composite CAMELS 5 |
50% |
Any questions regarding this bulletin should be directed to:
Office of Financial and Insurance Services
Bank and Trust Division
611 West Ottawa Street
P.O. Box 30220
Lansing, Michigan 48909-7720
Phone: (517) 373-6950
Toll Free (877) 999-6442
|
