An official website of the United States government
OCC Bulletin 2020-63
June 22, 2020
Share This Page:
Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties
The Office of the Comptroller of the Currency (OCC) today approved an interim final rule to reduce assessments in response to the national emergency declared in connection with the coronavirus disease (COVID-19). Under the interim final rule, assessments due on September 30, 2020, for national banks, federal savings associations, and federal branches and agencies of foreign banks (collectively, banks) will be calculated using the December 31, 2019, "Consolidated Reports of Condition and Income" (call report) for each institution, rather than the June 30, 2020, call report. This change will result in lower assessments for most OCC-supervised banks. 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.
This one-time reduction in assessments follows the 10 percent reduction in the General Assessment Fee Schedule implemented in the 2019 assessment year and the additional 10 percent reduction in the schedule for 2020.
This interim final rule applies to all OCC-supervised banks.
COVID-19 has significantly affected financial institutions, businesses, and consumers. In light of the adverse economic effect of the extraordinary measures that have been taken to limit the public health impact of the COVID-19 pandemic, the OCC is issuing this interim final rule to implement a one-time reduction in assessments for the upcoming semiannual assessment.
Please contact Margaret Sherry, Principal Deputy Comptroller for Management and Deputy Chief Financial Officer, Financial Management, (202) 649-5658, or Mitchell Plave, Special Counsel, (202) 649-5490, Chief Counsel's Office.
Jonathan V. Gould
Senior Deputy Comptroller and Chief Counsel