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absent a decision by it to the contrary, would always have had
FDIC insurance for its deposit liabilities, including those
deposit liabilities assumed from Community. Metrobank paid the
fees to insure its assumed deposit liabilities with the BIF, the
insurance fund in which it was already a participant, rather than
with the SAIF, a fund with which it was unaffiliated. Any
benefit that Metrobank derived from insuring the assumed deposit
liabilities with the BIF, rather than the SAIF, is insignificant
when weighed against the primary purpose for the payment of the
fees. That purpose, as explained herein, was, in the case of the
exit fee, to protect the integrity of the SAIF for the direct
benefit of the FDIC and the potential benefit of the SAIF’s
participants, one of which was not Metrobank, by imposing upon
Metrobank a final premium for the insurance coverage that the
assumed deposit liabilities had received while insured by the
SAIF before their assumption. The primary purpose of the
entrance fee, as also explained herein, was to protect the
integrity of the BIF by charging an additional first-year premium
for insurance coverage on the assumed deposit liabilities.
It is critical that Metrobank would not have recovered any
portion of either fee were it to have severed its relationship
with the BIF. Metrobank paid the exit fee to the SAIF as a
nonrefundable, final premium for insurance that it had already
received. The SAIF had insured the assumed deposit liabilities
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