Assessments reduced by OCC

The OCC has announced it will reduce assessments on national banks, federal savings associations, and federal branches and agencies of foreign banks for 2019. The reduction will take effect with the March 31, 2019, assessment and reduce the marginal rates in its General Assessment Fee Schedule by 10 percent. The agency anticipates the change will reduce total assessments collected by the agency by more than $90 million in 2019. The reduction in marginal rates reflects cost savings in the OCC’s operations and projections of the OCC’s costs and revenue.

OCC Bulletin 2018-43 was also issued to inform all national banks, federal savings associations, and federal branches and agencies of foreign banks of fees and assessments to be charged by the OCC for calendar year 2019. The bulletin, which becomes effective January 1, 2019, also announced a change in the OCC's refund policy for institutions that leave the federal banking system after the December 31 and June 30 Call Report dates. Under the new policy, if a bank leaves the federal banking system during the first half of a semiannual assessment period, the OCC will issue a refund to the bank for the second half of the bank’s semiannual assessment. If a bank leaves the federal banking system in the second half of the assessment period, no refund will be issued.