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.