A 3% reduction in calendar 2021 assessment rates in all fee schedules applied to national banks, federal savings associations, and federal branches and agencies of foreign banks was announced Tuesday by the Office of the Comptroller (OCC), which attributed the reduction to greater operating efficiencies achieved by the agency over the past several years.
“The 2021 assessment level provides sufficient resources that enable the agency to recruit, train, and retain the talent and experience necessary to perform its important mission and continue to invest in initiatives that improve the agency’s ability to ensure the safety, soundness, and fairness of the federal banking system,” the OCC said in its release.
The assessment rate reductions go into effect Jan. 1, 2021, and will be reflected in assessments paid on March 31 and Sept. 30. Those assessments will be based on call report information as of Dec. 31, 2020, and June 30, 2021, and will cover the six-month periods beginning Jan. 1 and July 1 respectively, the agency said. It noted, for example, that the assessment due March 31 covers the period Jan. 1 through June 30.
Additionally, the OCC said:
- The hourly fee for special examinations and investigations is rising to $150 from $140 to ensure cost recovery for these activities.
- The assessment schedule continues to include a surcharge for national banks, federal savings associations, and federal branches and agencies of foreign banks that require increased supervisory resources.
- A 12% discount on assessments of non-lead national banks, federal savings associations, and federal branches and agencies of foreign banks remains in effect.
Full details on the OCC’s 2021 fees and assessments structure are provided in OCC Bulletin 2020-106.