2016-17 Assessment

Commercial Banks, Foreign Banks and Trust Companies
The assessment rate was set at $1.39 per thousand dollars of total assets, the same as last year’s rate. Invoices were mailed on July 1. Payments will be due by August 1, unless the institution elects to pay via electronic funds transfer. EFT payments will be due no later than August 8. If you have any questions about the calculation of the assessment for your financial institution, please refer to “How to Calculate Your Assessment” for banks.

Industrial Banks
The assessment rate was set at $1.39 per thousand dollars of total assets the same as last year’s rate. Invoices were mailed on July 1. Payments will be due by August 1, unless the institution elects to pay via electronic funds transfer. EFT payments will be due no later than August 8. If you have any questions about the calculation of the assessment for your financial institution, please refer to “How to Calculate Your Assessment” for industrial banks.

Credit Unions
The assessment rate was set at $0.83 per thousand dollars of total assets, an increase of $0.05 from last year’s rate. Invoices were mailed on July 5. Payments will be due by August 5, unless the institution elects to pay via electronic funds transfer. EFT payments will be due no later than August 12. If you have any questions about the calculation of the assessment for your credit union, please refer to “How to Calculate Your Assessment” for credit unions.

Money Transmitter
The assessment rate for money transmissions was set at $0.01 per $1,000 of transmission money received by a licensee in calendar year 2015, a decrease of $0.02 from last year’s rate. The 2016-17 assessment rate for issuers of travelers checks and payment instruments was set at $0.63 per $1,000 of total payment instruments and stored value sold by the licensee, the same as last year’s rate. Invoices were mailed on July 5. Payments will be due by August 5, unless the institution elects to pay via electronic funds transfer. EFT payments will be due no later than August 12.

Please contact Patrick Carroll at (415) 263-8559 or by email at Patrick.Carroll@dbo.ca.gov with any questions or comments you may have.