Purpose

The purpose of this issuance is to inform all national banks and federal branches and agencies of changes to fees charged by the Office of the Comptroller of the Currency (OCC) for year 2008.  Changes are effective February 19, 2008.

Semiannual Assessment

Reference: Interim Rule 12 CFR 8 Effective Date: February 19, 2008; and 12 CFR 8.2 through 8.8

2008 Assessment Schedule

Effective February 19, 2008:

• Assessments are due March 31 and September 30, based on call report information as of December 31 and June 30, respectively.  The assessments cover the six-month period beginning on January 1 and July 1, respectively.  For example, the assessment due March 31, 2008, covers the period January 1 through June 30, 2008.
• The OCC has amended its assessment regulation to add two new asset-size categories to the general assessment schedule used to calculate each national bank’s semiannual assessment. The addition of these categories is warranted to take account of significant structural changes in the national banking system and will enable the OCC to realign its assessments to better reflect industry structure and OCC’s corresponding expenses of operations.
• The former top bracket, which covered banks with assets of $40 billion and above, has been replaced with a new bracket that will cover banks with assets between $40 billion and $250 billion. In addition, a new top bracket has been created that will apply to banks with assets in excess of $250 billion. The schedules shown below reflect these changes.
• The independent trust bank and independent credit card bank fee structures will remain the same.
• Banks are no longer required to calculate their assessment and call in the amount to be debited from their account.  The OCC will calculate the assessment due and draft the amount due on March 31 and September 30.  The OCC will provide seven-business-days notice of the amounts to be drafted from an institution’s account.  The institution is responsible for ensuring that the accounts are properly funded on the due dates.
• As has been the case for the last five years, the OCC will charge interest on all payments received after the due date.  The interest rate charged will be the United States Treasury Department’s current value of funds rate that is published quarterly in the Federal Register.
• National banks that depart the national banking system on or before December 31, 2007, or June 30, 2008, will not be subject to the semi-annual assessment for the period beginning January 1, 2008, or July 1, 2008, respectively.  Only those institutions leaving the national banking system prior to the close of business on those dates avoid paying the semi-annual assessment for the period beginning January 1, 2008, or July 1, 2008, as applicable.

The OCC’s assessment schedule continues to include a surcharge for banks that require increased supervisory resources.  The surcharge ensures that fees reflect the increased cost of supervision that applies to those national banks and federal branches and agencies of foreign banks rated 3, 4, or 5 under the uniform financial institution rating system (UFIRS), or the risk management, operational controls, compliance and asset quality (ROCA) rating system as of the relevant call date (i.e., December 31, 2007, or June 30, 2008).  The surcharge is to be applied to all components of an institution’s assessment, including book assets, assets under management (for independent trust banks), and receivables attributable (for independent credit card banks).

• National banks and federal branches and agencies of foreign banks that are subject to the surcharge can calculate their surcharge by multiplying the sum of the assessment based on the institution’s book assets up to $20 billion, the independent trust bank assessment (if applicable), and the independent credit card assessment (if applicable) by 50 percent for 3-rated institutions and 100 percent for 4- and 5-rated institutions.

The OCC will continue to reduce the assessment of nonlead national banks by 12 percent.  A nonlead bank, for this purpose, is a national bank and federal branch or agency that is not the largest national bank, based on total assets, controlled by a company owning two or more national banks.  Nonlead national banks within any company should multiply their calculated general assessment by 0.88 to recognize the 12 percent discount.  The 12 percent discount does not apply to the independent trust bank assessment or the independent credit card bank assessment, given that independent trust banks and independent credit card banks, by definition, are not affiliated with full-service national banks.

Each national bank and federal branch or agency pays the general assessment fee.  Independent trust banks pay the general assessment fee and the independent trust bank assessment.  Independent credit card banks pay the general assessment fee and the independent credit card bank assessment.  Assessments will be calculated using the schedules below and then adjusted for the nonlead discount and/or condition surcharge.

General Assessment Fee Schedule

Independent Trust Bank Semiannual Assessment Schedule

Independent Credit Card Bank Semiannual Assessment Schedule

Hourly Rate for Examinations and Investigations

Reference: 12 CFR 8.6

Effective date:  Examinations and investigations subject to the fee beginning after January 1, 2003.

Rate: $110 per hour to recover the cost of conducting special examinations and investigations described in 12 CFR 8.6.

Licensing Fees

Reference: 12 CFR 5.5

All licensing fees have been suspended for calendar year 2008.  This change is effective January 1, 2008.

Publications

The OCC has an extensive list of paper-based publications available for a fee, as well as publications available free of charge.  For a list of publications and current prices, consult the attached price list.  Please note that publication prices are subject to change before the next schedule of fees is published.

Copies of an array of items, including news releases, issuances (such as bulletins, advisories, and alerts), and other materials may be downloaded free of charge from the agency’s Web site at:  [http://www.occ.gov]. For your convenience, the site contains a search engine to locate materials by subject.

Miscellaneous Fees

Prepayment is required for bank histories and certifications.

Bank histories are provided to determine the successor to an inactive national bank.  They include corporate transactions such as name changes, mergers, closings, and the current address of the successor institution, if available.

Thomas R. Bloom
Senior Deputy Comptroller for the Office of Management and Chief Financial Officer

Related Links

• OCC Publications List
• Safety and Soundness
• Compliance
• Asset Management
• Comptroller's Licensing Manual
• Description of Publications
• Publication Order Form
• Interim Rule 73 FR 9012
• Correction 73 FR 9625