FRB Issues Final Rule Establishing Large Financial Companies' Annual Assessment Fees

The Board of Governors of the Federal Reserve System issued a final rule establishing annual assessment fees for its supervision and regulation of large financial companies. The final rule implements Section 318 of the Dodd-Frank Act, which directs the Federal Reserve to collect fees equal to the total estimated expenses necessary to carry out supervisory and regulatory responsibilities for bank holding companies and saving and loan holding companies with total consolidated assets of $50 billion or more and designated nonbank financial companies supervised by the Federal Reserve.The discussion in the release is generally as to how the Board arrived at its calculations, with particular focus on the treatment of non-U.S. banking institutions.

See: Federal Reserve Press Release; Federal Reserve Final Rule.