OCC to Reduce Assessments in 2019

The Office of the Comptroller of the Currency ("OCC") will reduce the total assessments collected on national banks, federal savings associations, and federal branches and agencies of foreign banks for 2019.

The OCC stated that it will reduce the marginal rates in its General Assessment Fee Schedule by 10 percent. The OCC anticipates that the change will reduce total assessments collected by over $90 million in 2019. The change will take effect starting with the March 31, 2019 assessment.

In addition, the OCC revised the refund policy for institutions that leave the federal banking system during an assessment period. Under the new policy, if a bank leaves the federal banking system during the first half of a semiannual assessment period, the OCC will provide a refund to the bank for the second half of the bank's semiannual assessment. The OCC stated that if a bank leaves the federal banking system in the second half of the assessment period, no refund will be provided.

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