On August 11, the Office of the Comptroller of the Currency (OCC) issued a final rule that increases the OCC’s semiannual assessment on national banks and federal savings associations (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.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. 

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, which reaffirms the OCC’s broad discretion to set assessments and to determine the assessment methodology. The final 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.”

Read more from the Office of the Comptroller of the Currency.