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Wednesday, July 9, 2014

OCC Finalizes Mid-Year Assessment Increases for Large Banks

The OCC is finalizing mid-year increases in the assessment on banks and thrifts with over $40 billion in assets. The increases will apply to the assessment due Sept. 30 based on the June 30 call reports.

The marginal assessment rate will increase by 14.5%, which combined with the base fee will increase banks’ total assessments from 0.32% to 14%, depending on a bank’s total assets. The agency said the increase is necessary due to continuing costs of integrating the Office of Thrift Supervision and the OCC’s increased responsibilities under the Dodd-Frank Act.

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