BEFORE THE Department ofADMINISTRATION

OF THE STATE OF MONTANA

 

In the matter of the amendment of ARM 2.59.104 pertaining to semiannual assessment for banks

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NOTICE OF AMENDMENT

 

TO:  All Concerned Persons

 

1.  On March 8, 2012, the Department of Administration published MAR Notice No. 2-59-470 pertaining to the proposed amendment of the above-stated rule at page 460 of the 2012 Montana Administrative Register, Issue Number 5.

 

2.  The department has amended the above-stated rule exactly as proposed.

 

3.  The department has thoroughly considered the comments received.  A summary of the comments received and the department's responses follow:

 

COMMENT #1:  The Montana Independent Bankers Association (MIB) commented that it strongly supports the amendment.

 

RESPONSE #1:  The department appreciates the MIB's support.

 

COMMENT #2:  MIB's membership urges the department to keep the assessment at one-half the prior rate as long as is fiscally responsible. 

 

RESPONSE #2:  As stated in the notice of proposed amendment, this is a one-time 50% reduction in the semiannual assessment for banks.  As also stated in the notice, the department is expecting a significant change in the number of state-chartered banks in calendar year 2012 and will be reviewing the assessment rates after the impact of that change is known.  The department expects to propose a permanent downward revision in the semiannual assessment for banks after anticipated changes in the banking industry occur and the effect of those changes can be determined.

 

 

 

By:   /s/ Janet R. Kelly                                         By:    /s/ Michael P. Manion                

Janet R. Kelly, Director                                       Michael P. Manion, Rule Reviewer

Department of Administration                           Department of Administration

 

 

Certified to the Secretary of State, April 16, 2012.