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Monday, April 28, 2014

OCC Proposes Mid-Year Assessment Increases for Large Banks

The OCC is proposing mid-year increases in the assessment on banks and thrifts with over $40 billion in assets. The increases would apply to the assessment due Sept. 30 based on the June 30 Call Reports.

The marginal assessment rate would increase by 14.5%, which, combined with the base fee would increase banks’ total assessments from 0.32% to 14%, depending on a bank’s total assets.

The proposal is expected to increase the OCC’s assessment revenues by 7 to 7.5%, which the agency said is necessary due to continuing costs of integrating the OTS and the OCC’s increased responsibilities under the Dodd-Frank Act. Comments on the proposed increases are due 45 days after publication in the Federal Register.

Read the proposal.

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