HI SB1071

Establishes a new tiered annual assessment system for Hawaii financial institutions based on total assets, ranging from $1,000 plus 0.00029111% of assets for institutions under $750,000 in assets to a maximum of $150,000 for institutions with $10 billion or more in assets, with assessments paid semiannually beginning February 15, 2014.

Creates specific nonrefundable application and licensing fees for various financial institution activities including $10,000 for preliminary approval to organize, $2,500 for final charter or license applications, $10,000 for mergers or acquisitions of control, and $5,000 for trust business, insurance, or securities activities.

Expands bank powers to include operating subsidiaries held 50% or more (reduced from 80%), conduct of activities permitted under federal regulations, and ownership of real property through subsidiaries with investment limits of 15% of tier one capital.

Clarifies Commissioner authority to administer financial institutions law, adopt rules, issue interpretations, investigate violations, and require compliance with federal regulatory requirements and guidance.

Broadens lending limit calculations for banks and savings banks to include derivative transactions, repurchase agreements, and securities transactions, with options to comply with federal financial institution lending limits using single calculation methods.