Office of the Comptroller of the Currency Fees and Assessments: Amended Interim Calendar Year 2020 Fees and Assessments Structure
Highlights
- The OCC is reducing assessments due on September 30, 2020, in response to the national emergency declared in connection with the coronavirus disease (COVID-19). Assessments due on September 30, 2020, for all OCC-supervised banks will be calculated using the December 31, 2019, call report for each institution, rather than the June 30, 2020, call report. This change will result in lower assessments for most banks. However, if a bank's assets as reported on the June 30, 2020, call report are lower than on the December 31, 2019, call report, the OCC will calculate the assessment due on September 30, 2020, for the bank using the June 30, 2020, call report.
- All other elements of OCC assessments and fees for 2020, as set out in OCC Bulletin 2019-59 and outlined below, remain in effect:
- For the 2020 assessment year, there will be no inflation adjustment to assessment rates.
- For the 2020 assessment year, the OCC has revised the assessments policy for institutions that enter the federal banking system in the time between assessment cycles. Under this policy, the OCC will assess these new entrants to the federal charter on a prorated basis using call report information as of December 31 or June 30 depending on the date the institution enters the federal banking system. The OCC is adopting this revised policy to ensure that supervisory efforts and resources are allocated and aligned once an institution is subject to the jurisdiction of the OCC. This revision is in line with the OCC's refund policy for institutions that leave the federal banking system.
- The OCC is increasing the hourly fee for special examinations and investigations to $140 from $110. The increase is to ensure adequacy in recovering the cost of conducting special examinations and investigations.
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