HB3543 Summary

• Amends the Illinois Banking Act to allow the Commissioner to accept federal banking agency examinations on an alternating basis for eligible state banks, reducing duplicative state examinations.

• Changes regulatory fee calculations for state banks and savings banks from year-end Call Reports to most recent quarterly reports of condition for more current asset assessments.

• Establishes a Non-insured Institutions Receivership account in the Bank and Trust Company Fund to collect fees from non-FDIC insured state banks and savings banks to cover receivership administration expenses.

• Modifies State Banking Board of Illinois and Board of Savings Banks eligibility requirements to allow members to continue serving when their bank's asset size changes, while still requiring them to meet their original appointment category requirements.

• Eliminates an additional adjustment fee for savings banks based on year-end asset changes and simplifies the fee structure to use only quarterly report data.