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OCC reduces 2023 bank assessments

The OCC on Thursday announced the publication of its assessment rates for the 2023 calendar year, reducing the rates in the general assessment fee schedule, and maintaining assessment rates from 2022 for the independent trust and independent credit card fee schedules.

Changes to the general assessment fee schedule include reductions by 40 percent for all banks on their first $200 million in total balance-sheet assets, and a 20 percent reduction for all banks on balance-sheet assets above $200 million and up to $20 billion. There will be no inflation adjustment to assessment rates.

The calendar year 2023 assessment rates will be in effect as of January 1, 2023, and will be reflected in assessments paid on March 31, 2023, and September 30, 2023.

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