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Virginia Administrative Code (Last Updated: January 10, 2017) |
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Title 10. Finance and Financial Institutions |
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Agency 5. State Corporation Commission |
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Chapter 20. Banking and Savings Institutions |
Section 30. Schedule prescribing annual fees paid for examination, supervision, and regulation of state-chartered banks and savings institutions
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Pursuant to the provisions of §§ 6.2-908 and 6.2-1202 of the Code of Virginia, the State Corporation Commission hereby sets the following schedule of annual fees to be paid by state-chartered banks, savings institutions, and savings banks for their examination, supervision, and regulation:
SCHEDULE
Asset Interval
Fee
Assets Exceeding
But Not Exceeding
This Amount
Plus
Assets Exceeding
$0
$5 million
$6,900
0
x
5 million
25 million
6,900
.0004025
x
$5 million
25 million
100 million
14,950
.00023
x
25 million
100 million
200 million
32,200
.0001725
x
100 million
200 million
1 billion
49,450
.0001265
x
200 million
1 billion
5 billion
150,650
.0001035
x
1 billion
5 billion
564,650
.0000805
x
5 billion
The fee assessed using the above schedule shall be rounded down to the nearest whole dollar. The assessment shall be based on the institution's total assets as shown by its Report of Condition as of the close of business for the preceding calendar year.
A bank or savings institution which opens for business January 1 through June 30 shall be assessed a fee of $6,900 for that year.
A bank or savings institution which opens for business on or after July 1 shall be assessed a fee of $5,175 for that year.
Historical Notes
Derived from VR225-01-0204, eff. June 27, 1990; amended, Volume 17, Issue 22, eff. June 27, 2001; Volume 24, Issue 22, eff. June 23, 2008; Volume 28, Issue 01, eff. September 1, 2011.