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OCC reduces assessments in response to pandemic

The OCC has announced it is reducing assessments on all OCC-supervised banks in response to the national health emergency related to COVID-19.

Assessments due on September 30, 2020, will be calculated using the December 31, 2019, or June 30, 2020, Call Report for each institution, basing the assessment on the Call Report showing the lower total assets figure. The interim reduction of assessments helps avoid penalizing banks for working with their customers throughout the pandemic, sometimes resulting in temporary increases in loans or deposits.

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