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Pursuant to 12 U.S.C. sec. 1815(d)(2)(E)(i) and (iii)
(1994), the FDIC deposited the exit fee into the SAIF, and it
deposited the entrance fee into the BIF. Metrobank calculated
the exit fee from a formula under which the fee equaled 0.9
percent (.009) multiplied by the total liability that it assumed
from Community as to the deposits. See 12 C.F.R. secs. 312.1(j),
312.5(c) (2000). Metrobank calculated the entrance fee from a
different formula under which the fee equaled the “Bank Insurance
Fund reserve ratio” (BIF reserve ratio) multiplied by the
“entrance fee deposit base” received from Community. 12 C.F.R.
secs. 312.1(g), 312.4(b) (2000). The BIF reserve ratio was the
ratio of the net worth of the BIF to the value of the aggregate
total domestic deposits held in all participants of the BIF. See
12 C.F.R. sec. 312.1(c) (2000). The entrance fee deposit base
was “those deposits which the Federal Deposit Insurance
Corporation * * * [estimated] to have a high probability of
remaining with * * * [Metrobank] for a reasonable period of time
following the * * * [conversion transaction], in excess of those
deposits that would have remained in the * * * [SAIF had
Community] been resolved by means of an insured deposit
transfer.” 12 C.F.R. sec. 312.1(g) (2000). Community generally
would have been resolved by an insured deposit transfer if its
deposit liabilities had been paid by the FDIC or Resolution Trust
Corporation. See id.
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Last modified: May 25, 2011