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 Federal Deposit Insurance Corporation RIN 3064-ZA22
 AGENCY: Federal Deposit Insurance Corporation.
 ACTION: Notice of Monetary Penalties 2021.
 SUMMARY: The Federal Deposit Insurance Corporation is providing notice of its maximum civil money penalties as adjusted for inflation.
 DATES: The adjusted maximum amounts of civil money penalties in this notice are applicable to penalties assessed after January 15, 2021, for conduct occurring on or after November 2, 2015.
 FOR FURTHER INFORMATION CONTACT: Graham N. Rehrig, Senior Attorney, Legal Division, (202) 898-3829, 
                        *grehrig@fdic.gov;*
                         Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429.


SUPPLEMENTARY INFORMATION: This notice announces changes to the maximum amount of each civil money penalty (CMP) within the Federal Deposit Insurance Corporation's (FDIC) jurisdiction to administer to account for inflation under the Federal Civil Penalties Inflation Adjustment Act of 1990 (1990 Adjustment Act),[1]
                    
                     as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (2015 Adjustment Act).[2]
                    
                     Under the 1990 Adjustment Act, as amended, federal agencies must make annual adjustments to the maximum amount of each CMP the agency administers. The Office of Management and Budget (OMB) is required to issue guidance to federal agencies no later than December 15 of each year providing an inflation-adjustment multiplier (
                    *i.e.,*
                     the inflation-adjustment factor agencies must use) applicable to CMPs assessed in the following year. Agencies are required to publish their CMPs, adjusted under the multiplier provided by the OMB, by January 15 of the applicable year. Agencies, like the FDIC, that have codified the statutory formula for making the CMP adjustments may make annual inflation adjustments by providing notice in the 
                    **Federal Register**
                    .[3] On December 23, 2020, the OMB issued guidance to affected agencies on implementing the required annual adjustment, which guidance included the relevant inflation multiplier.[4]
                    
                     The FDIC has applied that multiplier to the maximum CMPs allowable in 2020 for FDIC-supervised institutions to calculate the maximum amount of CMPs that may be assessed by the FDIC in 2021.[5]
                    
                     There were no new statutory CMPs administered by the FDIC during 2020. The following charts provide the inflation-adjusted maximum CMP amounts for use after January 15, 2021—the effective date of the 2021 annual adjustments—under 12 CFR part 308, for conduct occurring on or after November 2, 2015: Maximum Civil Money Penalty Amounts
U.S. code citation
Current maximum
                             CMP 
                             (through January 
                             14, 2021)
Adjusted maximum
                             
                                CMP 6
                             
                             (beginning January 
                             15, 2021)12 U.S.C. 1464(v):Tier One CMP 7
$4,098
$4,146Tier Two CMP
40,979
2,048,915Tier Three CMP 8
41,463
2,073,13312 U.S.C. 1467(d)
10,245
10,36612 U.S.C. 1817(a):Tier One CMP 9
4,098
4,146Tier Two CMP
40,979
41,463Tier Three CMP 10
2,048,915
2,073,13312 U.S.C. 1817(c):Tier One CMP
3,747
3,791Tier Two CMP
37,458
37,901Tier Three CMP 11
1,872,957
1,895,09512 U.S.C. 1817(j)(16):Tier One CMP
10,245
10,366Tier Two CMP
51,222
51,827Tier Three CMP 12
2,048,915
2,073,13312 U.S.C. 1818(i)(2): 13Tier One CMP
10,245
10,366Tier Two CMP
51,222
51,827Tier Three CMP 14
2,048,915
2,073,133( print page 300)12 U.S.C. 1820(e)(4)
9,365
9,47612 U.S.C. 1820(k)(6)
337,016
341,00012 U.S.C. 1828(a)(3)
127
12912 U.S.C. 1828(h): 15For assessments <$10,000
127
12912 U.S.C. 1829b(j)
21,410
21,66312 U.S.C. 1832(c)
2,976
3,01112 U.S.C. 1884
297
30112 U.S.C. 1972(2)(F):Tier One CMP
10,245
10,366Tier Two CMP
51,222
51,827Tier Three CMP 16
2,048,915
2,073,13312 U.S.C. 3909(d)
2,549
2,57915 U.S.C. 78u-2:Tier One CMP (individuals)
9,639
9,753Tier One CMP (others)
96,384
97,523Tier Two CMP (individuals)
96,384
97,523Tier Two CMP (others)
481,920
487,616Tier Three CMP (individuals)
192,768
195,047Tier Three CMP (others)
963,837
975,23015 U.S.C. 1639e(k):First violation
11,767
11,906Subsequent violations
23,533
23,81131 U.S.C. 3802
11,665
11,80342 U.S.C. 4012a(f)
2,226
2,252
  CFR citation
Current presumptive CMP
                             (through January 14, 2021)
Adjusted presumptive CMP
                             (beginning January 15, 2021)12 CFR 308.132(e)(1)(i):Institutions with $25 million or more in assets:1 to 15 days late
$562
$569.16 or more days late
$1,124
$1,137.Institutions with less than $25 million in assets:1 to 15 days late 17
$188
$190.16 or more days late 18
$374
$378.12 CFR 308.132(e)(1)(ii):Institutions with $25 million or more in assets:1 to 15 days late
$936
$947.16 or more days late
$1,872
$1,894.Institutions with less than $25 million in assets:1 to 15 days late
1/50,000th of the institution's total assets
1/50,000th of the institution's total assets.16 or more days late
1/25,000th of the institution's total assets
1/25,000th of the institution's total assets.12 CFR 308.132(e)(2)
$40,979
$41,463.12 CFR 308.132(e)(3):( print page 301)Tier One CMP
$4,098
$4,146.Tier Two CMP
$40,979
$41,463.Tier Three CMP 19
$2,048,915
$2,073,133.
  Federal Deposit Insurance Corporation. Dated at Washington, DC, on December 30, 2020. James P. Sheesley, Assistant Executive Secretary.


# Footnotes

1.
    
                         Public Law 101-410, 104 Stat. 890, codified at 28 U.S.C. 2461 note. Back to Citation
 2.
    
                         Public Law 114-74,  701(b), 129 Stat. 599, codified at 28 U.S.C. 2461 note. Back to Citation
 3.
    
                         
                        *See*
                         Office of Mgmt. & Budget, Exec. Office of the President, OMB Memorandum No. M-21-10, 
                        *Implementation of Penalty Inflation Adjustments for 2021, Pursuant to the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015*
                         4 (2020), 
                        *https://www.whitehouse.gov/​wp-content/​uploads/​2020/​12/​M-21-10.pdf*
                         (“OMB Guidance”); 
                        *see also*12 CFR 308.132(d) (FDIC regulation that guides readers to the 
                        **Federal Register**
                         to see the annual notice of CMP inflation adjustments). Back to Citation
 4.
    
                         
                        *See*
                         OMB Guidance at 1 (providing an inflation multiplier of 1.01182). Back to Citation
 5.
    
                         Penalties assessed for violations occurring prior to November 2, 2015, will be subject to the maximum amounts set forth in the FDIC's regulations in effect prior to the enactment of the 2015 Adjustment Act. Back to Citation
 6.
    
                         The maximum penalty amount is per day, unless otherwise indicated. 7.
    
                         12 U.S.C. 1464(v) provides the maximum CMP amounts for the late filing of certain Call Reports. In 2012, however, the FDIC issued regulations that further subdivided these amounts based upon the size of the institution and the lateness of the filing. 
                        *See*77 FR 74573, 74576-78 (Dec. 17, 2012), codified at 12 CFR 308.132(e)(1). These adjusted subdivided amounts are found at the end of this chart. 8.
    
                         The maximum penalty amount for an institution is the lesser of this amount or 1 percent of total assets. 9.
    
                         12 U.S.C. 1817(a) provides the maximum CMP amounts for the late filing of certain Call Reports. In 1991, however, the FDIC issued regulations that further subdivided these amounts based upon the size of the institution and the lateness of the filing. 
                        *See*56 FR 37968, 37992-93 (Aug. 9, 1991), codified at 12 CFR 308.132(e)(1). These adjusted subdivided amounts are found at the end of this chart. 10.
    
                         The maximum penalty amount for an institution is the lesser of this amount or 1 percent of total assets. 11.
    
                         The maximum penalty amount for an institution is the lesser of this amount or 1 percent of total assets. 12.
    
                         The maximum penalty amount for an institution is the lesser of this amount or 1 percent of total assets. 13.
    
                         These amounts also apply to CMPs in statutes that cross-reference 12 U.S.C. 1818, such as 12 U.S.C. 2601, 2804(b), 3108(b), 3349(b), 4009(a), 4309(a), 4717(b); 15 U.S.C. 1607(a), 1681s(b), 1691(b), 1691c(a), 1693
                        *o*
                        (a); and 42 U.S.C. 3601. 14.
    
                         The maximum penalty amount for an institution is the lesser of this amount or 1 percent of total assets. 15.
    
                         The $129-per-day maximum CMP under 12 U.S.C. 1828(h), for failure or refusal to pay any assessment, applies only when the assessment is less than $10,000. When the amount of the assessment is $10,000 or more, the maximum CMP under section 1828(h) is 1 percent of the amount of the assessment for each day that the failure or refusal continues. 16.
    
                         The maximum penalty amount for an institution is the lesser of this amount or 1 percent of total assets. Back to Citation
 17.
    
                         The maximum penalty amount for an institution is the greater of this amount or 1/100,000th of the institution's total assets. 18.
    
                         The maximum penalty amount for an institution is the greater of this amount or 1/50,000th of the institution's total assets. 19.
    
                         The maximum penalty amount for an institution is the lesser of this amount or 1 percent of total assets. Back to Citation


[FR Doc. 2020-29175 Filed 1-4-21; 8:45 am] BILLING CODE 6714-01-P