OCC Proposes Rule to Increase Amount of Semiannual Assessment on National Bank and FSAs with Assets over $40 Billion

The Office of the Comptroller of the Currency ("OCC") issued a proposed rule that would raise the semiannual assessment on national banks and federal savings associations ("FSAs") with more than $40 billion in assets.

The proposal would increase the marginal assessment rates on asset amounts in excess of $40 billion by 14.5 percent, as well as amend 12 CFR 8 to clarify that the OCC may increase the marginal assessment rates for reasons other than inflationary indexing. The total increase in the assessment amount for an individual national bank or FSA would depend on its total assets, with increases ranging from between 0.32 to 14 percent. The proposed increase would not change the assessment amounts for national banks and FSAs with $40 billion or less in assets.

According to the OCC, the proposed increase results from the need to fund new or enhanced OCC activities necessary to supervise the implementation of post-crisis financial reforms, primarily by large national banks and FSAs.

If adopted, the increase in assessments would be effective for the assessment due date of September 30, 2014. Comments on the proposal are due by June 12, 2014.