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OCC BULLETIN 2014-39
To: Chief Executive Officers of National Banks and Federal Savings Associations, All Department and Division Heads, All Examining Personnel, and Other Interested Parties

Description: Final Rule

Summary

The Office of the Comptroller of the Currency (OCC) has issued a final rule that increases the OCC’s semiannual assessment on national banks and federal savings associations (collectively, banks) with more than $40 billion in assets. The final rule does not change the assessment amounts for banks with $40 billion or less in assets. The final rule was published in the Federal Register on July 9, 2014.

The final rule raises the marginal assessment rate on bank assets in excess of $40 billion by 14.5 percent. The effective increase in the assessment amount for an individual bank depends on its total assets, with increases ranging from between 0.32 percent and 14 percent. The increase in assessments is effective for the assessment due on September 30, 2014.

The final rule makes a conforming amendment to 12 CFR 8, “Assessment of Fees,” to make 12 CFR 8 consistent with the increase in assessments. The rule also amends 12 CFR 8 by adding a reference to section 318 of the Dodd–Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), which reaffirms the OCC’s broad discretion to set assessments and to determine the assessment methodology. The rule also updates 12 CFR 8.8, “Notice of the Comptroller of the Currency Fees,” to reflect the current title of the “Notice of Fees and Assessments.”

Highlights

The final rule

  • increases the marginal assessment rate on bank assets in excess of $40 billion by 14.5 percent.  The effective increase for an individual bank will range from 0.32 percent to 14 percent, depending on its total assets.
  • amends 12 CFR 8 to clarify, consistent with section 318 of the Dodd-Frank Act, that the OCC may increase marginal assessment rates for reasons other than inflationary indexing.

Note for Community Banks

The final rule does not increase assessments for community banks.

Further Information

Direct questions to Gary Crane, Deputy Chief Financial Officer, Financial Management, at (202) 649-5540; or Mitchell Plave, Special Counsel, Legislative and Regulatory Activities Division, at (202) 649-5490.
 

Amy S. Friend
Senior Deputy Comptroller and Chief Counsel

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