FOR IMMEDIATE RELEASE
April 28, 2014
Contact: Bryan Hubbard
OCC Proposes Increase in Assessments for National Banks and Federal Savings Associations with Total Assets of More Than $40 Billion
WASHINGTON — The Office of the Comptroller of the Currency (OCC) today published a notice of proposed rulemaking in the Federal Register seeking comment on a proposal to raise assessments on national banks and federal savings associations with total assets over $40 billion.
Comments on the notice are requested by June 12, 2014.
Under the proposal, the marginal assessment rate for national banks and federal savings associations (FSAs) with more than $40 billion in assets would increase by 14.5 percent beginning September 30, 2014. The increase in assessments would range from 0.32 percent to 14 percent, depending on the total assets of the institution as reflected on its June 30, 2014, Consolidated Report of Condition and Income. The average increase in assessments for affected banks and FSAs would be 12 percent. The proposal would not increase assessment rates for banks and FSAs with $40 billion or less in total assets.
The proposed increase in assessments for banks and FSAs with more than $40 billion in assets reflects new supervisory and regulatory initiatives. Many of these new obligations require additional resources, with most of those resources allotted for large bank supervision and regulation. The increase for large banks and FSAs also reflects the fact the OCC did not raise marginal rates on the assets of large banks and FSAs in excess of $40 billion between 1995 and 2013. In addition, the OCC lowered marginal rates on large banks and FSAs in 2008 when the OCC added a new asset bracket for assets in excess of $250 billion.
The proposal also requests comment on a conforming amendment to 12 C.F.R. part 8 to make it consistent with the proposed increase in assessments. The proposal would also amend part 8 to add a reference to section 318 of the Dodd-Frank Act, which reaffirmed the Comptroller’s broad discretion to set assessments and to determine the assessment methodology. The proposal would update 12 C.F.R. 8.8 to reflect the current title of the Notice of Fees and Assessments.
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