OCC proposes to increase assessments for large banks and savings associations

This story appeared in Bank Digest.

The Office of the Comptroller of the Currency has proposed assessment increases for banks and federal savings associations with assets of more than $40 billion. The increases would range between 0.32 percent and approximately 14 percent, depending on the total assets of the institution as reflected in its June 30, 2014, Consolidated Report of Condition and Income (Call Report). The proposal would not increase assessments for banks or FSAs with $40 billion or less in total assets.

In conjunction with this increase in assessments, the OCC proposed to update its assessment rules to conform with section 318 of the Dodd-Frank Act. The proposed rule would also revise the assessment rules to update references to the annual Notice of Comptroller of the Currency Fees (Notice of Fees). If adopted as final, the OCC will implement the increase in assessments by issuing an amended Notice of Fees. This amended Notice of Fees would become effective as of the semiannual assessment due on Sept. 30, 2014.