ADMINISTRATIVE CODE

TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER II: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
PART 375 CALCULATION, ASSESSMENT AND COLLECTION OF PERIODIC FEES

Section 375.10 Purpose

Section 375.20 Definitions

Section 375.30 Call Report Fees (Repealed)

Section 375.31 Electronic Data Processing Fee

Section 375.32 Assessment of 3, 4, or 5 Rated State Banks

Section 375.33 Foreign Banking Office Minimum Quarterly Fee

Section 375.34 Corporate Fiduciary Regulatory Fees

Section 375.36 Foreign Bank Representative Office Regulatory Fees

Section 375.40 Calculation of Call Report and Electronic Data Processing Fees for Resulting State Banks

Section 375.41 Calculation of Corporate Fiduciary Regulatory Fees for Resulting Corporate Fiduciaries

Section 375.50 Assessment of Accrued Fees Against a Converting or Merging State Bank

Section 375.51 Assessment of Accrued Fees Against a Corporate Fiduciary

Section 375.60 Credits and Additional Assessments Not Applicable to Resulting National Banks

Section 375.70 Payment by Electronic Transfer or Automatic Debit

TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER II: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
PART 375 CALCULATION, ASSESSMENT AND COLLECTION OF PERIODIC FEES
SECTION 375.10 PURPOSE

Section 375.10 Purpose

This Part sets forth the manner in which the Office of Banks and Real Estate shall calculate, assess and collect Call Report Fees, Electronic Data Processing Fees, Foreign Bank Representative Office Regulatory Fees, and Corporate Fiduciary Regulatory Fees payable by state banks, foreign bank representative offices, and corporate fiduciaries pursuant to Section 48(3) of the Illinois Banking Act, Section 17 of the Foreign Banking Office Act, Section 4 of the Foreign Bank Representative Office Act, and Section 5-10 of the Corporate Fiduciary Act. Nothing in this Part is to be construed as limiting or being applicable to other fees that the Office of Banks and Real Estate may assess pursuant to the Illinois Banking Act, Foreign Banking Office Act, Foreign Bank Representative Office Act, Corporate Fiduciary Act, or other State laws or rules.

(Source: Amended at 27 Ill. Reg. 487, effective December 27, 2002)

TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER II: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
PART 375 CALCULATION, ASSESSMENT AND COLLECTION OF PERIODIC FEES
SECTION 375.20 DEFINITIONS

Section 375.20 Definitions

"Call Report Fee" means the fee to be paid to the Commissioner by each state bank pursuant to Section 48(3)(a) of the Act.

"Commissioner" means the Commissioner of the Office of Banks and Real Estate or a person authorized by the Commissioner to act in the Commissioner's stead.

"Corporate fiduciary" shall have the meaning ascribed to that term in Section 1-5.05 of the Corporate Fiduciary Act [205 ILCS 620/1-5.05].

"Corporate Fiduciary Regulatory Fee" means the fee to be paid to the Commissioner by each corporate fiduciary pursuant to Section 5-10(a) of the Corporate Fiduciary Act.

"Electronic Data Processing Fee" means the fee to be paid to the Commissioner by each state bank pursuant to Section 48(3)(a-2) of the Act.

"Foreign bank representative office" shall mean those entities subject to the Foreign Bank Representative Office Act [205 ILCS 650].

"State bank" means a banking corporation that has a banking charter issued by the Commissioner under the Act, and shall include a foreign banking office holding a certificate of authority pursuant to the Foreign Banking Office Act [205 ILCS 645].

(Source: Amended at 27 Ill. Reg. 487, effective December 27, 2002)

TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER II: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
PART 375 CALCULATION, ASSESSMENT AND COLLECTION OF PERIODIC FEES
SECTION 375.30 CALL REPORT FEES (REPEALED)

Section 375.30 Call Report Fees (Repealed)

(Source: Repealed at 41 Ill. Reg. 15093, effective December 15, 2017)

Section 375.31 Electronic Data Processing Fee

Each state bank shall pay to the Commissioner an Electronic Data Processing (EDP) Fee equal to 16% of the state bank's Call Report Fee. The EDP Fee shall be calculated by the Commissioner and billed to state banks for remittance with the Call Report Fee.

(Source: Amended at 27 Ill. Reg. 487, effective December 27, 2002)

Section 375.32 Assessment of 3, 4, or 5 Rated State Banks

If a state bank has received a Uniform Financial Institution Rating System (UFIRS) composite rating of 3, 4, or 5 on its last state or federal examination, the state bank's total quarterly fee shall be increased by 25% for a 3 rated bank and 50% for a 4 or 5 rated bank on the bank's subsequent quarter billing. This assessment shall stay in effect until the quarter following the state bank's receipt of a UFIRS composite rating of 1 or 2 at the next state or federal examination.

(Source: Amended at 27 Ill. Reg. 487, effective December 27, 2002)

Section 375.33 Foreign Banking Office Minimum Quarterly Fee

The minimum quarterly fee for a foreign banking office holding a certificate of authority pursuant to the Foreign Banking Office Act [205 ILCS 645] shall be $2,500.

(Source: Amended at 27 Ill. Reg. 487, effective December 27, 2002)

Section 375.34 Corporate Fiduciary Regulatory Fees

a) Each corporate fiduciary shall pay to the Commissioner a Corporate Fiduciary Regulatory Fee that shall be paid in quarterly installments equal to one-fourth of the sum of an annual fixed fee plus a variable exam-day fee.

b) The annual fixed fee shall be $200 for a trust department and for individuals or partnerships that possess a certificate of authority to accept and execute trusts. The annual fixed fee for a trust company shall be $500. The variable exam-day fee shall be calculated at the rate of $450 for each one-half examiner-day of work expended by the Commissioner's examination personnel in performing the most recent statutorily required examination of the corporate fiduciary, subject to a minimum one-day charge.

c) The Corporate Fiduciary Regulatory Fee shall be calculated by the Commissioner and billed to the corporate fiduciaries on the last day of each calendar quarter, with payment due within 30 calendar days after the billing date.

(Source: Amended at 28 Ill. Reg. 773, effective December 29, 2003)

Section 375.36 Foreign Bank Representative Office Regulatory Fees

a) An applicant for a foreign bank representative office license shall submit a completed application, in a form prescribed by the Commissioner, along with an application fee of $700.

b) The Commissioner shall annually send a foreign bank representative office licensee an annual license renewal notice. The annual renewal fee shall be $300.

c) When the Commissioner’s examination personnel conduct an examination of a foreign bank representative office, the variable exam-day fee shall be calculated at the rate of $350 for each one-half examiner-day of work expended in performing the examination, subject to a minimum one-day charge. The variable exam-day fee shall be calculated by the Commissioner and billed to the foreign bank representative office on the last day of the calendar quarter following the calendar quarter in which the examination occurred.

d) Payment of the fees prescribed in subsections (b) and (c) of this Section shall be due within 30 calendar days of the billing date. Any foreign bank representative office that has failed to submit any required fee within 60 calendar days after the billing date may incur an additional late fee of $100 per day.

e) Unless otherwise permitted by the Commissioner, payment of the application fee and annual renewal fee provided for in this Section shall be made to the Commissioner by certified check, money order, an electronic transfer of funds, or an automatic debit of an account. Certified checks or money orders shall be made payable to the Office of Banks and Real Estate.

(Source: Added at 27 Ill. Reg. 487, effective December 27, 2002)

Section 375.40 Calculation of Call Report and Electronic Data Processing Fees for Resulting State Banks

a) When a state bank results from a conversion by any financial institution other than a state bank and no statement of condition for such resulting state bank for the preceding quarter was submitted to the Commissioner pursuant to Section 47 of the Act, the Call Report Fee and EDP Fee shall be calculated for such resulting state bank in the same manner set forth in Section 375.30 and 375.31 of this Part based on the most recent periodic report of condition submitted by the converted financial institution to its primary regulator.

b) When a state bank results from a merger of one or more financial institutions into the resulting state bank, the Call Report Fee and EDP fee shall be calculated for such resulting state bank in the manner set forth in Section 375.30 and 375.31 of this Part based on the aggregate of the total assets reported in the most recent periodic reports of conditions submitted by the merged financial institutions to their primary regulators.

(Source: Amended at 24 Ill. Reg. 225, effective December 31, 1999)

Section 375.41 Calculation of Corporate Fiduciary Regulatory Fees for Resulting Corporate Fiduciaries

When a corporate fiduciary results from a merger of one or more financial institutions into the resulting corporate fiduciary, the Corporate Fiduciary Regulatory Fee shall be calculated for the resulting corporate fiduciary in the manner set forth in Section 375.34 of this Part. If a statutorily required examination is not performed on the resulting corporate fiduciary prior to a quarter end, the variable exam-day fee will be based on the aggregate number of exam days expended by the Commissioner in performing the most recent statutorily required examination for each corporate fiduciary involved in the merger.

(Source: Amended at 27 Ill. Reg. 487, effective December 27, 2002)

Section 375.50 Assessment of Accrued Fees Against a Converting or Merging State Bank

When a state bank converts to a national bank, merges into a resulting national bank, dissolves, surrenders its certificate of authority or in any other manner ceases to be a state bank, such state bank shall be liable on a pro rata basis to the Commissioner for any accumulated Call Report Fee and EDP fee up to, and including, the date that the state bank ceases to be a state bank.

(Source: Amended at 24 Ill. Reg. 225, effective December 31, 1999)

Section 375.51 Assessment of Accrued Fees Against a Corporate Fiduciary

When a corporate fiduciary surrenders its certificate of authority, that corporate fiduciary shall be liable on a pro rata basis to the Commissioner for the accumulated Corporate Fiduciary Regulatory Fee up to, and including, the date of surrender.

(Source: Added at 24 Ill. Reg. 225, effective December 31, 1999)

Section 375.60 Credits and Additional Assessments Not Applicable to Resulting National Banks

A financial institution other than a state bank that results from a conversion by, or merger with, a state bank shall not be eligible for any credit and shall not be liable for any additional assessments described in Section 48(3)(d-1) of the Act [205 ILCS 5/48(3)(d-1)].

(Source: Amended at 24 Ill. Reg. 225, effective December 31, 1999)

Section 375.70 Payment by Electronic Transfer or Automatic Debit

Payment of all fees assessed by the Commissioner pursuant to Section 48(3) of the Act [205 ILCS 5/48(3)], Section 17 of the Foreign Banking Office Act [205 ILCS 645/17], and Section 5-10 of the Corporate Fiduciary Act [205 ILCS 620/5-10] shall be made by each state bank and corporate fiduciary to the Commissioner by means of electronic transfer of funds from, or automatic debit of, an account of the state bank or corporate fiduciary, unless the Commissioner authorizes a state bank or corporate fiduciary to submit payment by some other means.

(Source: Amended at 27 Ill. Reg. 487, effective December 27, 2002)