Interim Final Rule on Special Assessment Collection

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Federal Register / Vol. 90, No. 242 / Friday, December 19, 2025 / Rules and Regulations

10 5 U.S.C. 603, 604.

11 44 U.S.C. 3506; see 5 CFR part 1320 Appendix

A.1.

bearing upon the general credit situation

of the country. Notice and public

comment would prevent the Board’s

action from being effective as promptly

as necessary in the public interest and

would not otherwise serve any useful

purpose. Notice, public comment, and a

delayed effective date would create

uncertainty about the finality and

effectiveness of the Board’s action and

undermine the effectiveness of that

action. Accordingly, the Board has

determined that good cause exists to

dispense with the notice, public

comment, and delayed effective date

procedures of the APA with respect to

this final amendment to Regulation D.

IV. Regulatory Flexibility Analysis

The Regulatory Flexibility Act

(‘‘RFA’’) does not apply to a rulemaking

where a general notice of proposed

rulemaking is not required.10 As noted

previously, the Board has determined

that it is unnecessary and contrary to

the public interest to publish a general

notice of proposed rulemaking for this

final rule. Accordingly, the RFA’s

requirements relating to an initial and

final regulatory flexibility analysis do

not apply.

V. Paperwork Reduction Act

In accordance with the Paperwork

Reduction Act (‘‘PRA’’) of 1995,11 the

Board reviewed the final rule under the

authority delegated to the Board by the

Office of Management and Budget. The

final rule contains no requirements

subject to the PRA.

List of Subjects in 12 CFR Part 204

Banks, Banking, Reporting and

recordkeeping requirements.

Authority and Issuance

For the reasons set forth in the

preamble, the Board amends 12 CFR

part 204 as follows:

PART 204—RESERVE

REQUIREMENTS OF DEPOSITORY

INSTITUTIONS (REGULATION D)

■1. The authority citation for part 204

continues to read as follows:

Authority: 12 U.S.C. 248(a), 248(c), 461,

601, 611, and 3105.

■2

R Part 204

Banks, Banking, Reporting and

recordkeeping requirements.

Authority and Issuance

For the reasons set forth in the

preamble, the Board amends 12 CFR

part 204 as follows:

PART 204—RESERVE

REQUIREMENTS OF DEPOSITORY

INSTITUTIONS (REGULATION D)

■1. The authority citation for part 204

continues to read as follows:

Authority: 12 U.S.C. 248(a), 248(c), 461,

601, 611, and 3105.

■2. Section 204.10 is amended by

revising paragraph (b)(1) to read as

follows:

§ 204.10

Payment of interest on balances.

*

*

*

*

*

(b) * * *

(1) For balances maintained in an

eligible institution’s master account,

interest is the amount equal to the

interest on reserve balances rate (‘‘IORB

rate’’) on a day multiplied by the total

balances maintained on that day. The

IORB rate is 3.65 percent.

*

*

*

*

*

By order of the Board of Governors of the

Federal Reserve System.

Benjamin W. McDonough,

Deputy Secretary of the Board.

[FR Doc. 2025–23390 Filed 12–18–25; 8:45 am]

BILLING CODE 6210–01–P

FEDERAL DEPOSIT INSURANCE

CORPORATION

12 CFR Part 327

RIN 3064–AG24

Special Assessment Collection

AGENCY: Federal Deposit Insurance

Corporation.

ACTION: Interim final rule; request for

comments.

SUMMARY: The Federal Deposit

Insurance Corporation (FDIC) has been

collecting a special assessment to

recover losses arising from the

protection of uninsured depositors

under the systemic risk exception, as

required by statute

ON

12 CFR Part 327

RIN 3064–AG24

Special Assessment Collection

AGENCY: Federal Deposit Insurance

Corporation.

ACTION: Interim final rule; request for

comments.

SUMMARY: The Federal Deposit

Insurance Corporation (FDIC) has been

collecting a special assessment to

recover losses arising from the

protection of uninsured depositors

under the systemic risk exception, as

required by statute. To ensure that the

FDIC recovers the correct amount of

losses while minimizing the risk of

overcollecting or undercollecting in

aggregate, the FDIC is adopting this

interim final rule to reduce the rate at

which the special assessment will be

collected in the eighth collection quarter

from 3.36 basis points to 2.97 basis

points, and provide an offset to regular

quarterly deposit insurance assessments

for banks subject to the special

assessment if the amount collected

exceeds losses following the resolution

of litigation between the FDIC and SVB

Financial Trust (SVBFT) and again

following the termination of the

receiverships.

DATES: The interim final rule is effective

December 19, 2025. Comments must be

received on or before January 20, 2026.

ADDRESSES: You may submit comments,

identified by RIN 3064–AG24, by any of

the following methods:

• FDIC Website: https://

www.fdic.gov/federal-register-

publications. Follow instructions for

submitting comments on the agency

website.

• Email: Comments@fdic.gov. Include

3064–AG24 in the subject line of the

message.

• Mail: Jennifer M. Jones, Deputy

Executive Secretary, Attention:

Comments–RIN 3064–AG24, Federal

Deposit Insurance Corporation, 550 17th

Street NW, Washington, DC 20429.

• Hand Delivery to FDIC: Comments

may be hand-delivered to the guard

station at the rear of the 550 17th Street

NW building (located on F Street NW)

on business days between 7 a.m. and 5

p.m

bject line of the

message.

• Mail: Jennifer M. Jones, Deputy

Executive Secretary, Attention:

Comments–RIN 3064–AG24, Federal

Deposit Insurance Corporation, 550 17th

Street NW, Washington, DC 20429.

• Hand Delivery to FDIC: Comments

may be hand-delivered to the guard

station at the rear of the 550 17th Street

NW building (located on F Street NW)

on business days between 7 a.m. and 5

p.m.

• Public Inspection: Comments

received, including any personal

information provided, may be posted

without change to https://www.fdic.gov/

federal-register-publications.

Commenters should submit only

information that the commenter wishes

to make available publicly. The FDIC

may review, redact, or refrain from

posting all or any portion of any

comment that it may deem to be

inappropriate for publication, such as

irrelevant or obscene material. The FDIC

may post only a single representative

example of identical or substantially

identical comments, and in such cases

will generally identify the number of

identical or substantially identical

comments represented by the posted

example. All comments that have been

redacted, as well as those that have not

been posted, that contain comments on

the merits of the proposed rule will be

retained in the public comment file and

will be considered as required under all

applicable laws. All comments may be

accessible under the Freedom of

Information Act.

FOR FURTHER INFORMATION CONTACT:

Division of Insurance and Research:

Kayla Shoemaker, Chief, Banking and

Regulatory Policy Section, 202–898–

6962, kashoemaker@fdic.gov; Daniel

Hoople, Acting Associate Director,

Financial Risk Management Branch,

202–898–3835, dhoople@fdic.gov; Legal

Division: Ryan McCarthy, Counsel, 202–

898–7301, rymccarthy@fdic.gov.

SUPPLEMENTARY INFORMATION:

I

n Act.

FOR FURTHER INFORMATION CONTACT:

Division of Insurance and Research:

Kayla Shoemaker, Chief, Banking and

Regulatory Policy Section, 202–898–

6962, kashoemaker@fdic.gov; Daniel

Hoople, Acting Associate Director,

Financial Risk Management Branch,

202–898–3835, dhoople@fdic.gov; Legal

Division: Ryan McCarthy, Counsel, 202–

898–7301, rymccarthy@fdic.gov.

SUPPLEMENTARY INFORMATION:

I. Background

Section 13(c)(4)(G) of the Federal

Deposit Insurance Act (FDI Act) permits

the FDIC to take certain actions with

respect to an insured depository

institution (IDI) for which the FDIC has

been appointed receiver, following a

recommendation by the FDIC Board of

Directors (Board), with the written

concurrence of the Board of Governors

of the Federal Reserve System (Board of

Governors), and a determination of

systemic risk by the Secretary of the

U.S. Department of Treasury (Treasury)

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Federal Register / Vol. 90, No. 242 / Friday, December 19, 2025 / Rules and Regulations

1 12 U.S.C. 1823(c)(4)(G). As used in this interim

final rule, the term ‘‘bank’’ is synonymous with the

term ‘‘insured depository institution’’ as it is used

in section 3(c)(2) of the FDI Act, 12 U.S.C.

1813(c)(2).

2 12 U.S.C. 1823(c)(4)(G). See also: FDIC PR–17–

2023. ‘‘Joint Statement by the Department of the

Treasury, Federal Reserve, and FDIC.’’ March 12,

2023. https://www.fdic.gov/news/press-releases/

2023/pr23017.html.

3 12 U.S.C. 1823(c)(4)(G)(ii)(I).

4 See 88 FR 83329 (Nov. 29, 2023). See also 12

CFR 327.13.

5 Under the special assessment rule, the term

‘‘banking organization’’ includes IDIs that are not

subsidiaries of a holding company as well as

holding companies with one or more subsidiary

IDIs

deral Reserve, and FDIC.’’ March 12,

2023. https://www.fdic.gov/news/press-releases/

2023/pr23017.html.

3 12 U.S.C. 1823(c)(4)(G)(ii)(I).

4 See 88 FR 83329 (Nov. 29, 2023). See also 12

CFR 327.13.

5 Under the special assessment rule, the term

‘‘banking organization’’ includes IDIs that are not

subsidiaries of a holding company as well as

holding companies with one or more subsidiary

IDIs. Estimated uninsured deposits are reported in

Memoranda Item 2 on Schedule RC–O, Other Data

for Deposit Insurance Assessments of both the Call

Report and FFIEC 002. Insured depository

institutions IDIs with less than $1 billion in total

assets as of June 30, 2021, were not required to

report the estimated amount of uninsured deposits

on the Call Report for December 31, 2022.

Therefore, for IDIs that had less than $1 billion in

total assets as of June 30, 2021, the amount and

share of estimated uninsured deposits as of

December 31, 2022, would be zero. For an IDI that

is part of a holding company with more than one

subsidiary IDI, the $5 billion deduction is

apportioned based on its estimated uninsured

deposits as a percentage of total estimated

uninsured deposits held by all IDI affiliates in the

banking organization.

(in consultation with the President).1

On March 12, 2023, the Secretary of the

Treasury, acting on the recommendation

of the Board and Board of Governors,

and after consultation with the

President, invoked the statutory

systemic risk exception with respect to

the resolutions of Silicon Valley Bank

and Signature Bank.2

Under section 13(c)(4)(G) of the FDI

Act, the loss to the Deposit Insurance

Fund (DIF) arising from the use of a

systemic risk exception must be

recovered from one or more special

assessments on IDIs, depository

institution holding companies (with the

concurrence of the Secretary of the

Treasury with respect to holding

companies), or both, as the FDIC

determines to be appropriate.3

The estimated losses to the DIF

attributable to Silicon Valley Bank and

urance

Fund (DIF) arising from the use of a

systemic risk exception must be

recovered from one or more special

assessments on IDIs, depository

institution holding companies (with the

concurrence of the Secretary of the

Treasury with respect to holding

companies), or both, as the FDIC

determines to be appropriate.3

The estimated losses to the DIF

attributable to Silicon Valley Bank and

Signature Bank are periodically adjusted

as the FDIC, as receiver of the failed

banks, sells assets, satisfies liabilities,

and incurs receivership expenses. The

exact amount of actual losses incurred,

and therefore the amount the FDIC must

recover through the special assessment,

will not be determined until the FDIC

terminates the receiverships.

II. The Final Rule Implementing the

Special Assessment

On November 29, 2023, the FDIC

published in the Federal Register a final

rule (the special assessment rule) to

implement a special assessment, as

required by the FDI Act, to recover the

loss to the DIF arising from the

protection of uninsured depositors

following the closures of Silicon Valley

Bank and Signature Bank.4

As stated in that rulemaking, the

special assessment rule allocated the

collection over eight quarterly

assessment periods to reduce the

likelihood of overcollecting and to

mitigate the liquidity effects of the

special assessment on IDIs by requiring

smaller, consistent quarterly payments.

The FDIC began collecting the special

assessment with the invoice for the first

quarterly assessment period of 2024

(i.e., January 1, 2024, through March 31,

2024), with a payment date of June 28,

2024. Throughout the initial eight-

quarter collection period, the special

assessment has been collected at a

quarterly rate of 3.36 basis points,

multiplied by an IDI’s special

assessment base of estimated uninsured

deposits as reported in the Consolidated

Reports of Condition and Income (Call

Report) or Report of Assets and

Liabilities of U.S

31,

2024), with a payment date of June 28,

2024. Throughout the initial eight-

quarter collection period, the special

assessment has been collected at a

quarterly rate of 3.36 basis points,

multiplied by an IDI’s special

assessment base of estimated uninsured

deposits as reported in the Consolidated

Reports of Condition and Income (Call

Report) or Report of Assets and

Liabilities of U.S. Branches and

Agencies of Foreign Banks (FFIEC 002),

reported for the quarter that ended

December 31, 2022, adjusted to exclude

the first $5 billion in estimated

uninsured deposits from the IDI, or for

IDIs that are part of a holding company

with one or more subsidiary IDIs, at the

banking organization level.5

The special assessment rule included

provisions to extend the collection

period or cease collection early in

response to changes to the estimated

losses to the DIF or if assessments

collected change due to corrective

amendments to the amount of

uninsured deposits reported for the

December 31, 2022, reporting period.

Specifically, the special assessment rule

included provisions to allow the FDIC

to extend the collection period over one

or more quarters as needed to collect the

difference between the amount collected

after the initial eight collections and the

estimated or actual losses at the end of

the eight-quarter collection period.

Conversely, if, prior to the end of the

initial eight-quarter collection period,

the estimated or actual losses are less

than the amount collected, the special

assessment rule included a provision to

allow the FDIC to cease collection of the

special assessment before the end of the

initial eight-quarter collection period.

However, pursuant to the special

assessment rule, the FDIC is required to

collect at a quarterly rate of 3.36 basis

points until the FDIC has collected

enough to recover actual or estimated

losses, which means that it may collect

more than the amount of estimated

losses

w the FDIC to cease collection of the

special assessment before the end of the

initial eight-quarter collection period.

However, pursuant to the special

assessment rule, the FDIC is required to

collect at a quarterly rate of 3.36 basis

points until the FDIC has collected

enough to recover actual or estimated

losses, which means that it may collect

more than the amount of estimated

losses. Additionally, even if the FDIC

ceased collection early, a future

decrease in losses would result in the

FDIC overcollecting.

As with all receiverships, the loss

estimates attributable to Silicon Valley

Bank and Signature Bank are

periodically adjusted as the FDIC, as

receiver of the failed banks, sells assets,

satisfies liabilities, and incurs

receivership expenses. The exact

amount of actual losses incurred will be

determined when the FDIC terminates

the receiverships. In the event that the

final loss amounts at the termination of

the receiverships exceed the amount

collected, the special assessment rule

provides for a one-time final shortfall

special assessment.

III. The Interim Final Rule

The objectives of the interim final rule

are to ensure that the FDIC recovers the

correct amount of losses, while

minimizing the risk of overcollecting or

undercollecting. Through this rule,

during the eighth collection quarter, the

FDIC will recover approximately the full

amount of estimated losses as of

September 30, 2025, while minimizing

any amounts collected in excess of the

estimated losses, by reducing the rate at

which the special assessment will be

collected from 3.36 basis points to 2.97

basis points. The interim final rule also

requires the FDIC to provide an offset to

regular quarterly deposit insurance

assessments for IDIs subject to the

special assessment if the aggregate

amount collected exceeds estimated

losses following the resolution of

litigation between the FDIC and SVBFT,

and again following the termination of

the receiverships

d from 3.36 basis points to 2.97

basis points. The interim final rule also

requires the FDIC to provide an offset to

regular quarterly deposit insurance

assessments for IDIs subject to the

special assessment if the aggregate

amount collected exceeds estimated

losses following the resolution of

litigation between the FDIC and SVBFT,

and again following the termination of

the receiverships. As provided for in the

special assessment rule, if losses at the

termination of the receiverships exceed

the amount collected, the FDIC will

implement a one-time final shortfall

special assessment to ensure the full

amount of actual losses is recovered as

required by law.

A. Reduction in Rate for Eighth Special

Assessment Collection

As of September 30, 2025, the total

loss estimate for Silicon Valley Bank

and Signature Bank attributable to the

protection of uninsured depositors

pursuant to the systemic risk

determination, which must be recovered

through the special assessment, was

$16.7 billion. As of September 30, 2025,

the FDIC completed six quarterly

collections of the special assessment, at

an average of $2.1 billion per quarter,

resulting in collection of $12.7 billion.

The FDIC anticipates collecting another

$2.1 billion for the seventh quarter of

the initial collection period, with an

invoice payment date of December 30,

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at

an average of $2.1 billion per quarter,

resulting in collection of $12.7 billion.

The FDIC anticipates collecting another

$2.1 billion for the seventh quarter of

the initial collection period, with an

invoice payment date of December 30,

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Federal Register / Vol. 90, No. 242 / Friday, December 19, 2025 / Rules and Regulations

6 In the event that an IDI’s regular quarterly

deposit insurance assessment amount is less than

the offset amount allocated to the IDI, the FDIC

would apply the offset to the IDI’s assessment

amount for one or more additional quarters as

needed, until the offset amount is exhausted.

7 In the event that the FDIC provides an offset to

regular quarterly deposit insurance assessments

prior to the termination of the receiverships, and

loss estimates later increase relative to amounts

collected, the FDIC will collect the remaining

amount needed to fully recover losses through the

one-time final shortfall special assessment.

8 FASB ASC paragraph 450–20–25–2.

9 See General Instructions to the Call Report,

available at: https://www.fdic.gov/bank-financial-

reports/ffiec-reports-condition-and-income-

instructions-ffiec-031-and-041-report-2.

2025, for a total projected collection of

$14.8 billion.

Absent the interim final rule, the

FDIC would invoice and collect the

eighth quarterly special assessment

period, with an invoice payment date of

March 30, 2026, at the quarterly rate of

3.36 basis points for a projected amount

of $2.1 billion. This would bring the

projected cumulative amount collected

for all eight collection quarters to $16.9

billion. Thus, if the FDIC collected the

eighth quarter at the quarterly rate of

3.36 basis points, as required by the

special assessment rule, the FDIC would

collect approximately $250 million

more than estimated losses as of

September 30, 2025

ts for a projected amount

of $2.1 billion. This would bring the

projected cumulative amount collected

for all eight collection quarters to $16.9

billion. Thus, if the FDIC collected the

eighth quarter at the quarterly rate of

3.36 basis points, as required by the

special assessment rule, the FDIC would

collect approximately $250 million

more than estimated losses as of

September 30, 2025.

To ensure that the FDIC collects the

correct amount (i.e., an amount

approximately equal to the loss estimate

as of September 30, 2025, and to avoid

overcollection), the FDIC, through this

interim final rule, will collect the

special assessment in the eighth

collection quarter, with an invoice

payment date of March 30, 2026, at a

reduced rate of 2.97 basis points. This

is the rate required to collect an amount

approximately equal to the difference

between estimated losses of $16.7

billion as of September 30, 2025, and

the anticipated collection amount of

$14.8 billion through the seventh

quarterly collection period. Because the

cumulative amount collected through

the initial special assessment period is

projected to equal the loss estimate as of

September 30, 2025, the extended

assessment period will not be necessary,

and therefore, as a conforming change,

the interim final rule removes the

extended assessment period provisions

of the special assessment rule.

B. Potential Offset to Regular Quarterly

Deposit Insurance Assessments

To ensure that the FDIC collects the

correct amount, without overcollecting

or undercollecting, the FDIC will

provide offsets to regular quarterly

deposit insurance assessments for IDIs

subject to the special assessment, as

described below. Any offsets provided

would be an amount proportional to the

amount that each bank paid towards the

special assessment.6

The largest known variable that could

result in banks overpaying is the

outcome of pending litigation between

the FDIC and SVBFT

FDIC will

provide offsets to regular quarterly

deposit insurance assessments for IDIs

subject to the special assessment, as

described below. Any offsets provided

would be an amount proportional to the

amount that each bank paid towards the

special assessment.6

The largest known variable that could

result in banks overpaying is the

outcome of pending litigation between

the FDIC and SVBFT. SVBFT has

asserted a $1.71 billion deposit claim,

and the special assessment calculation

assumes the estimated $1.71 billion

claim will result in a $1.71 billion loss

to the DIF. However, the FDIC, as

receiver, has asserted defenses to this

deposit claim, and any amounts

awarded based on its defenses would

offset all or part of the $1.71 billion loss

and reduce the total amount of losses

the FDIC needs to recover through the

special assessment. Thus, the outcome

of the litigation could result in a

significant overpayment of the special

assessment.

As a result, the FDIC has decided to

provide an offset to IDIs subject to the

special assessment at the subsequent

quarterly assessment if, following the

final resolution of the SVBFT litigation,

the total amount collected through the

special assessment exceeds the loss

estimates at that time. More specifically,

the offset would occur beginning the

quarter after the resolution of the final,

unappealable, judgment or settlement of

the litigation between the FDIC and

SVBFT. Under the interim final rule, the

FDIC will provide an offset at that time

if the collection amount exceeds loss

estimates, including any changes to loss

estimates resulting from estimated asset

recoveries or other asset disposition

efforts, and regardless of the outcome of

the SVBFT litigation. However, if the

collection amount is equal to or less

than loss estimates, the FDIC will take

no action until the termination of the

receiverships, consistent with the

special assessment rule

t exceeds loss

estimates, including any changes to loss

estimates resulting from estimated asset

recoveries or other asset disposition

efforts, and regardless of the outcome of

the SVBFT litigation. However, if the

collection amount is equal to or less

than loss estimates, the FDIC will take

no action until the termination of the

receiverships, consistent with the

special assessment rule. The FDIC will,

potentially, provide an offset at that

time due to the magnitude of the SVBFT

litigation, which is significantly larger

than other known variables impacting

the loss estimates.

C. Final Offset to Regular Quarterly

Deposit Insurance Assessments or One-

Time Final Shortfall Special Assessment

In addition, under the interim final

rule, upon termination of the

receiverships, the FDIC will either (1)

provide an offset to regular quarterly

deposit insurance assessments for IDIs

subject to the special assessment if the

amount collected exceeds losses, or (2)

collect from IDIs subject to the special

assessment a one-time final shortfall

special assessment, as provided in the

special assessment rule. In the latter

scenario, the FDIC will implement a

one-time final shortfall special

assessment with advanced notice of 45

days.7 In aggregate, this will ensure that

the FDIC ultimately collects the correct

amount, equal to losses attributable to

the systemic risk exception.

D. Mergers, Consolidations, and

Terminations of Deposit Insurance

Offsets applied following a merger or

consolidation will be provided to a

surviving or resulting IDI. Under the

interim final rule, any offset that would

have been applied to any bank with an

insured status that is terminated after

the effective date of this interim final

rule or prior to the application of any

offset, and for which the deposit

liabilities were not assumed by another

IDI, will not occur.

IV. Accounting Treatment

Each bank should account for the

special assessment in accordance with

U.S

m final rule, any offset that would

have been applied to any bank with an

insured status that is terminated after

the effective date of this interim final

rule or prior to the application of any

offset, and for which the deposit

liabilities were not assumed by another

IDI, will not occur.

IV. Accounting Treatment

Each bank should account for the

special assessment in accordance with

U.S. generally accepted accounting

principles (GAAP). In accordance with

Financial Accounting Standards Board

Accounting Standards Codification

Topic 450, Contingencies (FASB ASC

Topic 450), an estimated loss from a loss

contingency shall be accrued by a

charge to income if information

indicates that it is probable that a

liability has been incurred and the

amount of loss is reasonably estimable.8

Therefore, a bank will recognize in the

Call Report and other financial

statements the accrual of a liability and

estimated loss (i.e., expense) from a loss

contingency for the special assessment

when the bank determines that the

conditions for accrual under GAAP have

been met. In addition, the General

Instructions to the Call Report provide

guidance on ASC Topic 855,

Subsequent Events, which may be

applicable.9

If a bank had previously accrued its

best estimate of the liability for the

special assessment and the related

expense, a bank should adjust its

previous accrual based on subsequent

notifications from the FDIC relating to

changes in the total special assessment

in accordance with FASB ASC Subtopic

450–20.

Similarly, each bank should account

for any shortfall special assessment in

accordance with FASB ASC Topic 450

when the conditions for accrual under

GAAP have been met.

V

sment and the related

expense, a bank should adjust its

previous accrual based on subsequent

notifications from the FDIC relating to

changes in the total special assessment

in accordance with FASB ASC Subtopic

450–20.

Similarly, each bank should account

for any shortfall special assessment in

accordance with FASB ASC Topic 450

when the conditions for accrual under

GAAP have been met.

V. Expected Effects

To estimate the economic effects of

the interim final rule, this analysis

considers all relevant regulations

applicable to FDIC-insured institutions,

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Federal Register / Vol. 90, No. 242 / Friday, December 19, 2025 / Rules and Regulations

10 FDIC Call Report and FFIEC 002 Data,

September 30, 2025.

11 The decline in the number of banking

organizations subject to the special assessment

between enactment and September 30, 2025, is due

to bank mergers.

12 Circular No. A–94, Guidelines and Discount

Rates for Benefit-Cost Analysis of Federal Programs,

Appendix A, October 29, 1992 (Reinstated April 8,

2025).

13 The difference between the $250 million

estimated overcollection and the $246 million

reduction in the eighth quarterly collection is the

result of rounding when calculating the collection

amount, using a special assessment rate in basis

points out to two significant digits, when

considering estimated losses.

14 The effective Federal funds rate was 3.88

percent as of November 25, 2025. https://

www.newyorkfed.org/markets/reference-rates/effr.

$252 million * 3.88 percent = $9.78 million.

15 Annualized yield on earning assets for the

banking industry through the first three quarters of

2025 was 5.56 percent. FDIC Quarterly Banking

Profile, Third Quarter 2025. https://www.fdic.gov/

quarterly-banking-profile/quarterly-banking-profile-

third-quarter-2025-pdf.pdf#page=1. $252 million *

5.56 percent = $14.01 million

erence-rates/effr.

$252 million * 3.88 percent = $9.78 million.

15 Annualized yield on earning assets for the

banking industry through the first three quarters of

2025 was 5.56 percent. FDIC Quarterly Banking

Profile, Third Quarter 2025. https://www.fdic.gov/

quarterly-banking-profile/quarterly-banking-profile-

third-quarter-2025-pdf.pdf#page=1. $252 million *

5.56 percent = $14.01 million.

16 5 U.S.C. 553.

17 5 U.S.C. 553(b)(B).

18 5 U.S.C. 553(d)(1).

as well as information on the financial

condition of FDIC-insured institutions

as of the quarter ending September 30,

2025, as the baseline to which the

effects of the proposed rule are

estimated. As of the quarter ending

September 30, 2025, the FDIC-insured

4,388 depository institutions.10 The

special assessment rule applies to

banking organizations that reported

estimated uninsured deposits in excess

of $5 billion as of the quarter ending

December 31, 2022. The special

assessment rule identified 114 banking

organizations subject to the special

assessment, and 110 banking

organizations remain subject to the

special assessment as of the quarter

ending September 30, 2025.11

The interim final rule will benefit IDIs

subject to the special assessment by

reducing the estimated overcollection in

the eighth collection quarter by $246

million. These funds are a transfer in

the context of cost-benefit analysis.12 To

ensure the FDIC recovers approximately

the full amount of estimated losses as of

September 30, 2025, while minimizing

amounts collected in excess of the

estimated losses, the interim final rule

will reduce the rate at which the special

assessment will be collected in the

eighth collection quarter from 3.36 basis

points to 2.97 basis points. Under the

baseline, affected IDIs will pay $2.1

billion scheduled to be assessed in the

eighth quarterly collection. Under the

interim final rule, affected IDIs will only

pay $1.9 billion in the eight quarterly

collection

interim final rule

will reduce the rate at which the special

assessment will be collected in the

eighth collection quarter from 3.36 basis

points to 2.97 basis points. Under the

baseline, affected IDIs will pay $2.1

billion scheduled to be assessed in the

eighth quarterly collection. Under the

interim final rule, affected IDIs will only

pay $1.9 billion in the eight quarterly

collection. The quarterly collection

amount is projected to be $246 million

lower, which results in quarterly

savings of 11.6 percent for banking

organizations subject to the special

assessment.13

The interim final rule could also

benefit IDIs subject to the special

assessment by providing an offset to

regular quarterly deposit insurance

assessments. If the special assessment

amount collected exceeds estimated

losses following the resolution of

pending litigation between the FDIC and

SVBFT, the FDIC will apply an offset to

regular deposit insurance assessments.

Any such offset will be applied to

quarterly assessments beginning the

quarter after the resolution of the

litigation. If the amount collected

exceeds losses upon termination of the

receiverships, the FDIC will also apply

an offset to regular deposit insurance

assessments.

Any such assessment offset would

increase retained income for affected

IDIs. Affected IDIs could employ

increased retained income by passing it

on to equity holders, retaining it, or

lending those funds to customers. As

mentioned previously, estimated losses

remain uncertain and the amount of

actual losses incurred will be

determined when the FDIC terminates

the receiverships. Therefore, based on

estimated losses as of September 30,

2025, the projected collection amount

through the eighth quarterly collection,

and continued uncertainty in estimated

losses, the FDIC is not estimating an

amount for any assessment offset

ously, estimated losses

remain uncertain and the amount of

actual losses incurred will be

determined when the FDIC terminates

the receiverships. Therefore, based on

estimated losses as of September 30,

2025, the projected collection amount

through the eighth quarterly collection,

and continued uncertainty in estimated

losses, the FDIC is not estimating an

amount for any assessment offset.

Therefore, the FDIC estimates the

interim final rule will convey benefits to

IDIs subject to the special assessment

through prospective returns on the $246

million in funds they will retain from

the reduced eighth quarterly collection

amount. The FDIC does not have the

information necessary to estimate how

IDIs will utilize those funds. If the funds

are invested at the effective federal

funds rate of 3.88 percent, the affected

IDIs will earn annual benefits of $9.53

million.14 If the IDIs instead invest the

funds in banking assets with a yield of

5.56 percent (the annualized yield on

earning assets for the banking industry

through September 30, 2025), the

annual benefits will be $13.66 million.15

Therefore, the FDIC estimates the

economic effect of this interim final rule

to be $9.53 million or $13.66 million

annually.

VI. Request for Comment

The FDIC invites comments on all

aspects of the interim final rule. In

particular, the FDIC requests comment

on the following:

Question 1: Are there alternative

methodologies or timing for applying

offsets or collecting the remaining

amount of the estimated losses

attributable to the protection of

uninsured depositors pursuant to the

systemic risk determination the FDIC

should consider and why?

Question 2: Are there policy or

accounting considerations regarding the

special assessment collection or the

application of an offset to regular

quarterly deposit insurance assessments

that are relevant, but not discussed in

the interim final rule?

Question 3: The FDIC invites

comments on expected effects

tors pursuant to the

systemic risk determination the FDIC

should consider and why?

Question 2: Are there policy or

accounting considerations regarding the

special assessment collection or the

application of an offset to regular

quarterly deposit insurance assessments

that are relevant, but not discussed in

the interim final rule?

Question 3: The FDIC invites

comments on expected effects. In

particular, are there effects of the

interim final rule that the FDIC did not

consider?

VII. Administrative Law Matters

A. Administrative Procedure Act

The FDIC is issuing the interim final

rule without prior notice and the

opportunity for public comment and the

delayed effective date ordinarily

prescribed by the Administrative

Procedure Act (APA).16 Pursuant to

section 553(b)(B) of the APA, general

notice and the opportunity for public

comment are not required with respect

to a rulemaking when an ‘‘agency for

good cause finds (and incorporates the

finding and a brief statement of reasons

therefore in the rules issued) that notice

and public procedure thereon are

impracticable, unnecessary, or contrary

to the public interest.’’ 17 Pursuant to

section 553(d)(1) of the APA, a rule may

become effective without waiting for the

delayed effective date to elapse where

the rule ‘‘grants an exemption or

relieves a restriction.’’ 18

The eighth quarterly special

assessment collection will occur in the

first quarter of 2026, and there is

material benefit to the FDIC in not

delaying the collection (which would

likely be necessary if going through a

full notice-and-comment rulemaking

process) and to IDIs subject to the

special assessment, who benefit from

having certainty regarding the amount

to be collected in the first quarter of

2026. As a result, the FDIC finds that the

public interest is best served by the

interim final rule being effective

immediately upon publication in the

Federal Register and without prior

notice and opportunity for public

comment

ulemaking

process) and to IDIs subject to the

special assessment, who benefit from

having certainty regarding the amount

to be collected in the first quarter of

2026. As a result, the FDIC finds that the

public interest is best served by the

interim final rule being effective

immediately upon publication in the

Federal Register and without prior

notice and opportunity for public

comment.

Nevertheless, the FDIC desires to have

the benefit of public comment and

invites interested parties to submit

comments during a 30-day comment

period, particularly on aspects of the

rule that are less time-sensitive than the

eighth collection amount. The 30-day

comment period will allow the FDIC to

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19 5 U.S.C. 601 et seq.

20 The SBA defines a small banking organization

as having $850 million or less in assets, where an

organization’s ’’assets are determined by averaging

the assets reported on its four quarterly financial

statements for the preceding year.’’ See 13 CFR

121.201 (as amended by 87 FR 69118, effective

December 19, 2022). In its determination, the ’’SBA

counts the receipts, employees, or other measure of

size of the concern whose size is at issue and all

of its domestic and foreign affiliates.’’ See 13 CFR

121.103. Following these regulations, the FDIC uses

an insured depository institution’s affiliated and

acquired assets, averaged over the preceding four

quarters, to determine whether the insured

depository institution is ’’small’’ for the purposes of

RFA.

21 June 30, 2025, Call Report data, the most

current Call Reports for which the FDIC can

determine which insured depository institutions are

‘‘small’’ for purposes of RFA.

22 44 U.S.C. 3501 through 3521.

23 12 U.S.C. 4802.

24 Public Law 106–102, section 722, 113 Stat

the preceding four

quarters, to determine whether the insured

depository institution is ’’small’’ for the purposes of

RFA.

21 June 30, 2025, Call Report data, the most

current Call Reports for which the FDIC can

determine which insured depository institutions are

‘‘small’’ for purposes of RFA.

22 44 U.S.C. 3501 through 3521.

23 12 U.S.C. 4802.

24 Public Law 106–102, section 722, 113 Stat.

1338, 1471 (1999), 12 U.S.C. 4809.

25 5 U.S.C. 801 et seq.

26 5 U.S.C. 801(a)(3).

27 5 U.S.C. 804(2).

receive comments in a timely manner,

given that the interim rule will be

effective on December 19, 2025. In

adopting any final regulation, the FDIC

will revise the interim final rule if

appropriate in light of the comments

received.

B. Regulatory Flexibility Act

The Regulatory Flexibility Act (RFA)

requires an agency to consider whether

the rules it proposes will have a

significant economic impact on a

substantial number of small entities.19

The RFA applies only to rules for which

an agency publishes a general notice of

proposed rulemaking pursuant to 5

U.S.C. 553(b). As discussed previously,

consistent with section 553(b)(B) of the

APA, the FDIC has determined for good

cause that general notice and

opportunity for public comment is

unnecessary, and therefore the FDIC is

not issuing a notice of proposed

rulemaking. Accordingly, the FDIC has

concluded that the RFA’s requirements

relating to initial and final regulatory

flexibility analysis do not apply.

Nevertheless, the FDIC is voluntarily

presenting information in this RFA

section and seeking comment on

whether, and the extent to which, the

interim final rule would affect a

significant number of small entities

uing a notice of proposed

rulemaking. Accordingly, the FDIC has

concluded that the RFA’s requirements

relating to initial and final regulatory

flexibility analysis do not apply.

Nevertheless, the FDIC is voluntarily

presenting information in this RFA

section and seeking comment on

whether, and the extent to which, the

interim final rule would affect a

significant number of small entities. The

Small Business Administration (SBA)

has defined ‘‘small entities’’ to include

banking organizations with total assets

of less than or equal to $850 million.20

The FDIC insures 4,430 institutions as

of June 30, 2025, of which 3,092 are

small entities.21 The special assessment

is paid by IDIs that are part of banking

organizations that reported more than

$5 billion in uninsured deposits for the

reporting period that ended December

31, 2022. Given that no small entity has

reported more than $5 billion in

uninsured deposits, the FDIC does not

believe the interim final rule will have

a direct effect on any small entity.

C. Paperwork Reduction Act

The Paperwork Reduction Act of 1995

(PRA) 22 states that no agency may

conduct or sponsor, nor is the

respondent required to respond to, an

information collection unless it displays

a currently valid Office of Management

and Budget (OMB) control number. The

FDIC’s OMB control numbers for its

assessment regulations are 3064–0057,

3064–0151, and 3064–0179. The interim

final rule does not create any new, or

revise any of these existing assessment

information collections pursuant to the

PRA; consequently, no submissions in

connection with these OMB control

numbers will be made to the OMB for

review.

D

ment

and Budget (OMB) control number. The

FDIC’s OMB control numbers for its

assessment regulations are 3064–0057,

3064–0151, and 3064–0179. The interim

final rule does not create any new, or

revise any of these existing assessment

information collections pursuant to the

PRA; consequently, no submissions in

connection with these OMB control

numbers will be made to the OMB for

review.

D. Riegle Community Development and

Regulatory Improvement Act of 1994

The Riegle Community Development

and Regulatory Improvement Act of

1994 generally provides that new

regulations or amendments to

regulations prescribed by a Federal

banking agency that impose additional

reporting, disclosure, or other new

requirements on IDIs shall take effect on

the first day of a calendar quarter that

begins on or after the date on which the

regulations are published in final form,

unless the agency determines, for good

cause published with the rule, that the

rule should become effective for such

time.23 For the reasons discussed above,

the FDIC has determined that good

cause exists for the interim final rule to

become effective immediately upon

publication in the Federal Register.

E. Plain Language

Section 722 of the Gramm-Leach-

Bliley Act 24 requires the Federal

banking agencies to use plain language

in all proposed and final rulemakings

published in the Federal Register after

January 1, 2000. The FDIC has sought to

present the interim final rule in a simple

and straightforward manner. The FDIC

invites comments on whether the

interim final rule is clearly stated and

effectively organized and how the FDIC

might make the proposal easier to

understand.

F

agencies to use plain language

in all proposed and final rulemakings

published in the Federal Register after

January 1, 2000. The FDIC has sought to

present the interim final rule in a simple

and straightforward manner. The FDIC

invites comments on whether the

interim final rule is clearly stated and

effectively organized and how the FDIC

might make the proposal easier to

understand.

F. Congressional Review Act

For purposes of the Congressional

Review Act, the OMB makes a

determination as to whether a final rule

constitutes a ‘‘major’’ rule.25 If a rule is

deemed a ‘‘major rule’’ by the OMB, the

Congressional Review Act generally

provides that the rule may not take

effect until at least 60 days following its

publication.26

The Congressional Review Act defines

a ‘‘major rule’’ as any rule that the

Administrator of the Office of

Information and Regulatory Affairs of

the OMB finds has resulted in or is

likely to result in (1) an annual effect on

the economy of $100,000,000 or more;

(2) a major increase in costs or prices for

consumers, individual industries,

Federal, State, or local government

agencies or geographic regions; or (3)

significant adverse effects on

competition, employment, investment,

productivity, innovation, or on the

ability of United States-based

enterprises to compete with foreign-

based enterprises in domestic and

export markets.27

The OMB has determined that the

interim final rule is not a major rule for

purposes of the Congressional Review

Act. The FDIC will submit the rule and

other appropriate reports to Congress

and the Government Accountability

Office for review.

List of Subjects in 12 CFR Part 327

Bank deposit insurance, Banks,

Banking, Savings associations.

Authority and Issuance

For the reasons stated in the

preamble, the Federal Deposit Insurance

Corporation amends 12 CFR part 327 as

follows:

PART 327—ASSESSMENTS

■1. The authority citation for part 327

continues to read as follows:

Authority: 12 U.S.C

ment Accountability

Office for review.

List of Subjects in 12 CFR Part 327

Bank deposit insurance, Banks,

Banking, Savings associations.

Authority and Issuance

For the reasons stated in the

preamble, the Federal Deposit Insurance

Corporation amends 12 CFR part 327 as

follows:

PART 327—ASSESSMENTS

■1. The authority citation for part 327

continues to read as follows:

Authority: 12 U.S.C. 1813, 1815, 1817–19,

1821, 1823.

■2. Revise and republish § 327.13 to

read as follows:

§ 327.13

Special assessment pursuant to

March 12, 2023, systemic risk

determination.

(a) Special assessment. A special

assessment shall be imposed on each

insured depository institution to recover

losses to the Deposit Insurance Fund, as

described in paragraph (b) of this

section, resulting from the March 12,

2023, systemic risk determination

pursuant to 12 U.S.C. 1823(c)(4)(G). The

special assessment shall be collected

from each insured depository institution

on a quarterly basis as described in this

section during the initial special

assessment period as defined in

paragraph (i) of this section and, if

necessary, on a one-time basis as

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described in paragraph (l) of this

section.

(b) Losses to the Deposit Insurance

Fund. As used in this section, ‘‘losses to

the Deposit Insurance Fund’’ refers to

losses incurred by the Deposit Insurance

Fund resulting from actions taken by the

FDIC under the March 12, 2023,

systemic risk determination, as may be

revised from time to time.

(c) Calculation of quarterly special

assessment amount. An insured

depository institution’s special

assessment for each quarter during the

initial special assessment period shall

be calculated by multiplying the special

assessment rate defined in paragraph

resulting from actions taken by the

FDIC under the March 12, 2023,

systemic risk determination, as may be

revised from time to time.

(c) Calculation of quarterly special

assessment amount. An insured

depository institution’s special

assessment for each quarter during the

initial special assessment period shall

be calculated by multiplying the special

assessment rate defined in paragraph

(i)(2) of this section by the institution’s

special assessment base as defined in

paragraph (i)(3) of this section.

(d) Invoicing of special assessment.

For each assessment period in which

the special assessment is imposed, the

FDIC shall advise each insured

depository institution of the amount and

calculation of any special assessment

payment due in a form that notifies the

institution of the special assessment

base and special assessment rate

exclusive of any other assessments

imposed under this part. The FDIC shall

also advise each insured depository

institution subject to the special

assessment of any revisions, if any, to

losses to the Deposit Insurance Fund as

defined in paragraph (b) of this section.

This information shall be provided at

the same time as the institution’s

quarterly certified statement invoice

under § 327.2 for the assessment period

in which the special assessment was

imposed.

(e) Payment of quarterly special

assessment amount. Each insured

depository institution shall pay to the

Corporation any special assessment

imposed under this section in

compliance with and subject to the

provisions of §§ 327.3, 327.6, and 327.7.

The date for any special assessment

payment shall be the date provided in

§ 327.3(b)(2) for the institution’s

quarterly certified statement invoice for

the calendar quarter in which the

special assessment was imposed.

institution shall pay to the

Corporation any special assessment

imposed under this section in

compliance with and subject to the

provisions of §§ 327.3, 327.6, and 327.7.

The date for any special assessment

payment shall be the date provided in

§ 327.3(b)(2) for the institution’s

quarterly certified statement invoice for

the calendar quarter in which the

special assessment was imposed.

(f) Uninsured deposits. For purposes

of this section, the term ‘‘uninsured

deposits’’ means an institution’s

estimated uninsured deposits as

reported in Memoranda Item 2 on

Schedule RC–O, Other Data For Deposit

Insurance Assessments in the

Consolidated Reports of Condition and

Income (Call Report) or Report of Assets

and Liabilities of U.S. Branches and

Agencies of Foreign Banks (FFIEC 002)

for the quarter ended December 31,

2022, reported as of the later of:

(1) November 2, 2023, adjusted for

mergers prior to March 12, 2023; or

(2) The date of the institution’s most

recent amendment to its Call Report or

FFIEC 002 for the quarter ended

December 31, 2022, if such amendment

arises from, or is confirmed through, the

FDIC’s Assessment Reporting Review.

Institutions with less than $1 billion in

total assets as of June 30, 2021, were not

required to report such items; therefore,

for purposes of calculating the special

assessment or a shortfall special

assessment under this section, the

amount of uninsured deposits for such

institutions as of December 31, 2022, is

zero.

(g) Five billion dollar deduction from

the special assessment base—

institution’s portion. For purposes of

this section, an institution’s portion of

the $5 billion deduction shall equal the

ratio of the institution’s uninsured

deposits to the sum of the institution’s

uninsured deposits and the uninsured

deposits of all of the institution’s

affiliated insured depository

institutions, multiplied by $5 billion.

r deduction from

the special assessment base—

institution’s portion. For purposes of

this section, an institution’s portion of

the $5 billion deduction shall equal the

ratio of the institution’s uninsured

deposits to the sum of the institution’s

uninsured deposits and the uninsured

deposits of all of the institution’s

affiliated insured depository

institutions, multiplied by $5 billion.

(h) Affiliates. For the purposes of this

section, an affiliated insured depository

institution is an insured depository

institution that meets the definition of

‘‘affiliate’’ in section 3 of the FDI Act,

12 U.S.C. 1813(w)(6).

(i) Special assessment during initial

special assessment period—(1) Initial

special assessment period. The initial

special assessment period shall begin

with the first quarterly assessment

period of 2024 and end the last

quarterly assessment period of 2025.

(2) Special assessment rate during

initial special assessment period. The

special assessment rate during the first

seven quarters of the initial special

assessment period is 3.36 basis points

on a quarterly basis, and the rate during

the last quarterly assessment period of

2025 is 2.97 basis points.

(3) Special assessment base during

initial special assessment period. (i) The

special assessment base for an insured

depository institution during the initial

special assessment period that has no

affiliated insured depository institution

shall equal:

(A) The institution’s uninsured

deposits; minus

(B) Five billion dollars; provided,

however, that an institution’s

assessment base cannot be negative.

(ii) The special assessment base for an

insured depository institution during

the initial special assessment period

that has one or more affiliated insured

depository institutions shall equal:

(A) The institution’s uninsured

deposits; minus

(B) The institution’s portion of the $5

billion deduction; provided, however,

that an institution’s special assessment

base cannot be negative.

ve.

(ii) The special assessment base for an

insured depository institution during

the initial special assessment period

that has one or more affiliated insured

depository institutions shall equal:

(A) The institution’s uninsured

deposits; minus

(B) The institution’s portion of the $5

billion deduction; provided, however,

that an institution’s special assessment

base cannot be negative.

(j) Effect of mergers, consolidations,

and other terminations of insurance on

the special assessment—(1) Final

quarterly certified invoice for acquired

institution. The surviving or resulting

insured depository institution in a

merger or consolidation shall be liable

for any unpaid special assessment or

one-time final shortfall special

assessment outstanding at the time of

the merger or consolidation on the part

of the institution that is not the resulting

or surviving institution consistent with

§ 327.6.

(2) Special assessment for quarter in

which the merger or consolidation

occurs and subsequent quarters. If an

insured depository institution is the

surviving or resulting institution in a

merger or consolidation or acquires all

or substantially all of the assets, or

assumes all or substantially all of the

deposit liabilities, of an insured

depository institution, then the

surviving or resulting insured

depository institution or the insured

depository institution that acquires such

assets or assumes such deposit

liabilities, shall be liable for the

acquired institutions’ special

assessment from the quarter of the

acquisition through the remainder of the

initial special assessment period,

including any one-time final shortfall

special assessment.

then the

surviving or resulting insured

depository institution or the insured

depository institution that acquires such

assets or assumes such deposit

liabilities, shall be liable for the

acquired institutions’ special

assessment from the quarter of the

acquisition through the remainder of the

initial special assessment period,

including any one-time final shortfall

special assessment.

(3) Other termination. When the

insured status of an institution is

terminated, and the deposit liabilities of

such institution are not assumed by

another insured depository institution,

the special assessment and any shortfall

special assessment shall be paid

consistent with § 327.6(c). When an

insured depository institution

voluntarily terminates its deposit

insurance, the institution shall be liable

for any unpaid special assessment or

one-time final shortfall special

assessment outstanding at the time of

the termination and all future special

assessments, if any, the institution

would have been invoiced through the

remainder of the initial special

assessment period, as applicable,

including any one-time final shortfall

special assessment for which the

institution has been given notice before

termination. Any special assessment or

one-time final shortfall special

assessment liabilities will be included,

in full, on the final quarterly assessment

invoice following voluntary

termination.

(k) Corrective reporting

amendments—(1) Recalculation of

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ny special assessment or

one-time final shortfall special

assessment liabilities will be included,

in full, on the final quarterly assessment

invoice following voluntary

termination.

(k) Corrective reporting

amendments—(1) Recalculation of

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Federal Register / Vol. 90, No. 242 / Friday, December 19, 2025 / Rules and Regulations

quarterly special assessment amount.

Corrective amendments to an

institution’s uninsured deposits that

arise from, or are confirmed through, the

FDIC’s Assessment Reporting Review

will apply retroactively beginning the

first quarterly collection period of the

initial special assessment period. An

institution’s special assessment base

and portion of the $5 billion deduction,

along with the portion of the $5 billion

deduction allocated to the institution’s

affiliated insured depository

institutions, will be recalculated for

prior collection quarters. Any

overpayment or underpayment in prior

collection quarters as a result of the

recalculation will be invoiced as

described in paragraph (k)(2) of this

section.

(2) Invoicing overpayment and

underpayment. Any underpayment of

the special assessment by an institution

as the result of corrective amendments

to uninsured deposits will be included,

in full and with interest, on the invoice

for the quarter following the date a

corrective amendment is filed. If a

corrective amendment results in an

overpayment of the special assessment,

the institution will be credited the

overpayment amount, with interest, and

such amount will be applied to the

institution’s subsequent special

assessment invoices beginning in the

quarter following the date of the

amendment. If any excess credit amount

remains after the end of the initial

special assessment period, the excess

credit amount shall be refunded to the

institution

sessment,

the institution will be credited the

overpayment amount, with interest, and

such amount will be applied to the

institution’s subsequent special

assessment invoices beginning in the

quarter following the date of the

amendment. If any excess credit amount

remains after the end of the initial

special assessment period, the excess

credit amount shall be refunded to the

institution. Payment and collection of

interest on amounts resulting from

overpayment and underpayment of the

special assessment shall be consistent

with § 327.7.

(l) One-time final shortfall special

assessment. If the aggregate amount of

the special assessment collected does

not meet or exceed the losses to the

Deposit Insurance Fund, as calculated

after the receiverships resulting from the

March 12, 2023, systemic risk

determination are terminated, insured

depository institutions shall pay a one-

time final shortfall special assessment in

accordance with this paragraph (l).

(1) Notification of one-time final

shortfall special assessment. The FDIC

shall notify each insured depository

institution of the amount of such

institution’s one-time final shortfall

special assessment no later than 45 days

before such shortfall assessment is due.

(2) Aggregate one-time final shortfall

special assessment amount. The

aggregate amount of the one-time final

shortfall special assessment imposed

across all insured depository

institutions shall equal the losses to the

Deposit Insurance Fund, as of

termination of the receiverships to

which the March 12, 2023, systemic risk

determination applied, minus the

aggregate amount of the special

assessment collected under this section

less any amount applied as an offset, as

described in paragraph (p)(1)(i) of this

section, including the net amount of

interest paid or received as a result of

overpayments and underpayments.

ance Fund, as of

termination of the receiverships to

which the March 12, 2023, systemic risk

determination applied, minus the

aggregate amount of the special

assessment collected under this section

less any amount applied as an offset, as

described in paragraph (p)(1)(i) of this

section, including the net amount of

interest paid or received as a result of

overpayments and underpayments.

(3) One-time final shortfall special

assessment rate. The final shortfall

special assessment rate shall be the

aggregate final shortfall special

assessment amount divided by the total

amount of uninsured deposits, as

described in paragraph (f) of this

section, adjusted for mergers,

consolidation, and termination of

insurance as of the assessment period

preceding the final shortfall special

assessment period, minus the $5 billion

deduction for each insured depository

institution or each institution’s portion

of the $5 billion deduction.

(4) One-time final shortfall special

assessment base. (i) The one-time final

shortfall special assessment base for an

insured depository institution that has

no affiliated insured depository

institution shall equal:

(A) The institution’s uninsured

deposits; minus

(B) $5 billion; provided, however, that

an institution’s one-time final shortfall

special assessment base cannot be

negative.

(ii) The one-time final shortfall

special assessment base for an insured

depository institution that has one or

more affiliated insured depository

institutions shall equal:

(A) The institution’s uninsured

deposits; minus

(B) The institution’s portion of the $5

billion deduction, adjusted for

termination of insurance as of the

assessment period preceding the final

shortfall assessment period; provided,

however, that an institution’s one-time

final shortfall special assessment base

cannot be negative.

affiliated insured depository

institutions shall equal:

(A) The institution’s uninsured

deposits; minus

(B) The institution’s portion of the $5

billion deduction, adjusted for

termination of insurance as of the

assessment period preceding the final

shortfall assessment period; provided,

however, that an institution’s one-time

final shortfall special assessment base

cannot be negative.

(5) Calculation of one-time final

shortfall special assessment. An insured

depository institution’s final shortfall

special assessment shall be calculated

by multiplying the final shortfall special

assessment rate by the institution’s one-

time final shortfall special assessment

base.

(6) One-time final special assessment.

The one-time final shortfall special

assessment shall be collected on a one-

time quarterly basis after losses to the

Deposit Insurance Fund are determined

after termination of the receiverships to

which the March 12, 2023, systemic risk

determination applied.

(7) Payment, invoicing, and mergers.

Paragraphs (d), (e), and (j) of this section

are applicable to the one-time shortfall

special assessment.

(m) Request for revisions. An insured

depository institution may submit a

written request for revision of the

computation of any special assessment

or shortfall special assessment pursuant

to this part consistent with § 327.3(f).

(n) Special assessment collection in

excess of losses. Any special assessment

collected under this section that exceeds

the losses to the Deposit Insurance

Fund, as of termination of the

receiverships to which the March 12,

2023, systemic risk determination

applied, shall be placed in the Deposit

Insurance Fund.

(o) Rule of construction. Nothing in

this section shall prevent the FDIC from

imposing additional special assessments

as required to recover current or future

losses to the Deposit Insurance Fund

resulting from any systemic risk

determination under 12 U.S.C.

1823(c)(4)(G).

s to which the March 12,

2023, systemic risk determination

applied, shall be placed in the Deposit

Insurance Fund.

(o) Rule of construction. Nothing in

this section shall prevent the FDIC from

imposing additional special assessments

as required to recover current or future

losses to the Deposit Insurance Fund

resulting from any systemic risk

determination under 12 U.S.C.

1823(c)(4)(G).

(p) Assessment offsets. The FDIC will

provide offsets, in accordance with this

paragraph (p), to the quarterly risk-

based assessments calculated under

§ 327.3(b)(1), of institutions that have

paid the special assessment.

(1) Timing. Assessment offsets will be

provided if the aggregate amount of the

special assessment collected exceeds the

losses to the Deposit Insurance Fund as

of:

(i) The final unappealable judgment

or settlement of the litigation between

the FDIC and SVB Financial Trust (Case

No. 5:24–cv–01321–BLF, U.S. District

Court for the Northern District of

California); and

(ii) The termination of the

receiverships to which the March 12,

2023, systemic risk determination

applied.

(2) Application of offsets. Assessment

offsets will be included on the quarterly

certified statement invoice(s) for the

assessment period following the timing

provisions in paragraphs (p)(1)(i) and

(ii) of this section, if applicable.

(3) Calculation. To determine an

institution’s offset amount, the FDIC

will calculate the percentage that an

insured depository institution

contributed towards the total amount of

the special assessment collected and

then multiply that percentage by the

amount of special assessment collected

in excess of losses to the Deposit

Insurance Fund at the time of the

calculation.

f applicable.

(3) Calculation. To determine an

institution’s offset amount, the FDIC

will calculate the percentage that an

insured depository institution

contributed towards the total amount of

the special assessment collected and

then multiply that percentage by the

amount of special assessment collected

in excess of losses to the Deposit

Insurance Fund at the time of the

calculation.

(4) Mergers, consolidations, and other

terminations of insurance. An offset

under this paragraph (p) shall be

provided to the surviving or resulting

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59376

Federal Register / Vol. 90, No. 242 / Friday, December 19, 2025 / Rules and Regulations

insured depository institution that

acquired, merged with, or acquired all

or substantially all of the assets, or

assumes all or substantially all of the

deposit liabilities, of an insured

depository that paid the special

assessment. No offset, credit, or refund

will be provided to an institution with

an insured status that has been

terminated, and for which the deposit

liabilities of such institution were not

assumed by another insured depository

institution.

Federal Deposit Insurance Corporation.

By order of the Board of Directors.

Dated at Washington, DC, December 16,

2025.

Debra A. Decker,

Executive Secretary.

[FR Doc. 2025–23425 Filed 12–18–25; 8:45 am]

BILLING CODE 6714–01–P

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Parts 120, 142, and 413

[Docket No. FAA–2024–0021; Amendment

Nos. 120–4, 142–12, and 413–14]

RIN 2120–AL84

Falsification, Reproduction, Alteration,

Omission, or Incorrect Statements

AGENCY: Federal Aviation

Administration (FAA), U.S. Department

of Transportation (DOT).

ACTION: Correcting amendments.

SUMMARY: On September 3, 2025, FAA

published a final rule titled

‘‘Falsification, Reproduction, Alteration,

Omission, or Incorrect Statements’’

ment

Nos. 120–4, 142–12, and 413–14]

RIN 2120–AL84

Falsification, Reproduction, Alteration,

Omission, or Incorrect Statements

AGENCY: Federal Aviation

Administration (FAA), U.S. Department

of Transportation (DOT).

ACTION: Correcting amendments.

SUMMARY: On September 3, 2025, FAA

published a final rule titled

‘‘Falsification, Reproduction, Alteration,

Omission, or Incorrect Statements’’.

That final rule incorrectly deleted three

sections of Title 14 of the Code of

Federal Regulations rather than the

intended one paragraph in each of those

sections. This document corrects the

final regulations.

DATES: Effective December 19, 2025.

FOR FURTHER INFORMATION CONTACT:

Jessica E. Kabaz-Gomez, Senior

Attorney, Aviation Litigation Division,

AGC–300, Federal Aviation

Administration, Office of the Chief

Counsel, 800 Independence Avenue

SW, Washington, DC 20591; email

jessica.kabaz-gomez@faa.gov.

SUPPLEMENTARY INFORMATION: On

September 3, 2025, the ‘‘Falsification,

Reproduction, Alteration, Omission, or

Incorrect Statements’’ final rule (RIN

2120–AL84) was published in the

Federal Register at 90 FR 42517. That

final rule amended, restructured, and

consolidated the falsification

regulations presently located throughout

Title 14 of the Code of Federal

Regulations. In addition, that rule also

created a falsification prohibition

applicable to the regulations governing

commercial space transportation. After

publication, FAA discovered that three

sections, 120.103, 142.11, and 413.17,

were inadvertently removed. This was

not FAA’s intent. Rather, FAA sought to

remove and reserve paragraphs

120.103(e), 142.11(e)(3), and 413.17(c).

This document places §§ 120.103,

142.11, and 413.17 back in Title 14 of

the Code of Federal Regulations. These

sections read the same as they did prior

to the publication of the final rule, with

the exception of removing and reserving

paragraphs 120.103(e), 142.11(e)(3), and

413.17(c)

A’s intent. Rather, FAA sought to

remove and reserve paragraphs

120.103(e), 142.11(e)(3), and 413.17(c).

This document places §§ 120.103,

142.11, and 413.17 back in Title 14 of

the Code of Federal Regulations. These

sections read the same as they did prior

to the publication of the final rule, with

the exception of removing and reserving

paragraphs 120.103(e), 142.11(e)(3), and

413.17(c).

List of Subjects

14 CFR Part 120

Air carriers, Air traffic controllers,

Airmen, Alcohol abuse, Alcoholism,

Aviation safety, Drug abuse, Drug

testing, Reporting and recordkeeping

requirements, Safety, Transportation.

14 CFR Part 142

Aircraft, Airmen, Aviation safety,

Educational facilities, Reporting and

recordkeeping requirements, Schools,

Students, Teachers.

14 CFR Part 413

Confidential business information,

Reporting and recordkeeping

requirements, Rockets, Safety, Space

transportation and exploration.

PART 120—DRUG AND ALCOHOL

TESTING PROGRAM

■1. The authority citation for part 120

continues to read as follows:

Authority: 49 U.S.C. 106(f), 40101–40103,

40113, 40120, 41706, 41721, 44106, 44701,

44702, 44703, 44709, 44710, 44711, 45101–

45105, 46105, 46306.

■2. Add § 120.103 to read as follows:

§ 120.103

General.

(a) Purpose. The purpose of this

subpart is to establish a program

designed to help prevent accidents and

injuries resulting from the use of

prohibited drugs by employees who

perform safety-sensitive functions.

(b) DOT procedures. (1) Each

employer shall ensure that drug testing

programs conducted pursuant to 14 CFR

parts 65, 91, 121, and 135 comply with

the requirements of this subpart and the

‘‘Procedures for Transportation

Workplace Drug Testing Programs’’

published by the Department of

Transportation (DOT) (49 CFR part 40).

(2) An employer may not use or

contract with any drug testing

laboratory that is not certified by the

Department of Health and Human

Services (HHS) under the National

Laboratory Certification Program.

omply with

the requirements of this subpart and the

‘‘Procedures for Transportation

Workplace Drug Testing Programs’’

published by the Department of

Transportation (DOT) (49 CFR part 40).

(2) An employer may not use or

contract with any drug testing

laboratory that is not certified by the

Department of Health and Human

Services (HHS) under the National

Laboratory Certification Program.

(c) Employer responsibility. As an

employer, you are responsible for all

actions of your officials, representatives,

and service agents in carrying out the

requirements of this subpart and 49 CFR

part 40.

(d) Applicable Federal regulations.

The following applicable regulations

appear in 49 CFR or 14 CFR:

(1) 49 CFR part 40—Procedures for

Transportation Workplace Drug Testing

Programs.

(2) 14 CFR:

(i) § 67.107—First-Class Airman

Medical Certificate, Mental.

(ii) § 67.207—Second-Class Airman

Medical Certificate, Mental.

(iii) § 67.307—Third-Class Airman

Medical Certificate, Mental.

(iv) § 91.147—Passenger carrying

flight for compensation or hire.

(v) § 135.1—Applicability.

(e) [RESERVED].

PART 142—TRAINING CENTERS

■3. The authority citation for part 142

continues to read as follows:

Authority: 49 U.S.C. 106(f), 40113, 40119,

44101, 44701–44703, 44705, 44707, 44709–

44711, 45102–45103, 45301–45302.

■4. Add § 142.11 to read as follows:

§ 142.11

Application for issuance or

amendment.

(a) An application for a training center

certificate and training specifications

shall—

(1) Be made on a form and in a

manner prescribed by the

Administrator;

(2) Be filed with the responsible

Flight Standards office for the area in

which the applicant’s principal business

office is located; and

(3) Be made at least 120 calendar days

before the beginning of any proposed

training or 60 calendar days before

effecting an amendment to any

approved training, unless a shorter

filing period is approved by the

Administrator.

d by the

Administrator;

(2) Be filed with the responsible

Flight Standards office for the area in

which the applicant’s principal business

office is located; and

(3) Be made at least 120 calendar days

before the beginning of any proposed

training or 60 calendar days before

effecting an amendment to any

approved training, unless a shorter

filing period is approved by the

Administrator.

(b) Each application for a training

center certificate and training

specification shall provide—

(1) A statement showing that the

minimum qualification requirements for

each management position are met or

exceeded;

(2) A statement acknowledging that

the applicant shall notify the

Administrator within 10 working days

of any change made in the assignment

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