TO: |
Chief Executive Officers of All National Banks, Federal Branches and Agencies, Department and Division Heads, and All Examining Personnel
|
The purpose of this issuance is to inform all national banks and federal branches and agencies of fees charged by the Office of the Comptroller of the Currency (OCC) for year 2008. Changes are effective January 1, 2008.
SEMIANNUAL ASSESSMENT
Reference: 12 CFR 8.2 and 8.6
2008 Assessment Schedule
Effective January 1, 2008: - Assessments are due March 31 and September 30 based on call report information as of December 31 and June 30, respectively. The assessments cover the six-month period beginning on January 1 and July 1, respectively. For example, the assessment due March 31, 2008 covers the period January 1 through June 30, 2008.
- Banks are no longer required to calculate their assessment and call in the amount to be debited from their account. The OCC will calculate the assessment due and draft the amount due on March 31 and September 30. The OCC will provide seven-business-days notice of the amounts to be drafted from an institution’s account. The institution is responsible for ensuring that the accounts are properly funded on the due dates.
- The marginal rates of the OCC’s general assessment schedule continue to be indexed to reflect inflation, as measured by the Gross Domestic Product Implicit Price Deflator (GDPIPD) for the previous June-to-June period. The GDPIPD adjustment is 2.7 percent for 2008. As was the case for the previous six years, the indexation adjustment will apply only to the first $20 billion in a national bank’s assets.
- Fees assessed independent trust banks and independent credit card banks have been adjusted for inflation as well. The schedules shown below reflect these changes.
- As was the case for the last three years, the OCC will charge interest on all payments received after the due date. The interest rate charged will be the United States Treasury Department’s current value of funds rate that is published quarterly in the Federal Register.
- National banks that depart the national banking system on or before December 31, 2007, or June 30, 2008, will not be subject to the semi-annual assessment for the period beginning January 1, 2008 or July 1, 2008, respectively. Only those Institutions leaving the national banking system prior to the close of business on those dates avoid paying the semi-annual assessment for the period beginning January 1, 2008 or July 1, 2008, as applicable.
The OCC’s assessment schedule continues to include a surcharge for banks that require increased supervisory resources. The surcharge ensures that fees reflect the increased cost of supervision that applies to those national banks and federal branches and agencies of foreign banks rated 3, 4, or 5 under the uniform financial institution rating system (UFIRS) or the risk management, operational controls, compliance and asset quality (ROCA) rating system as of the relevant call date (i.e., December 31, 2007, or June 30, 2008). The surcharge is to be applied to all components of an institution’s assessment, including book assets, assets under management (for independent trust banks), and receivables attributable (for independent credit card banks). National banks and federal branches and agencies of foreign banks that are subject to the surcharge can calculate their surcharge by multiplying the sum of the assessment based on the institution’s book assets up to $20 billion, the independent trust bank assessment (if applicable), and the independent credit card assessment (if applicable) by 50 percent for 3-rated institutions and 100 percent for 4- and 5-rated institutions.
The OCC will continue to reduce the assessment of nonlead national banks by 12 percent. A nonlead bank, for this purpose, is a national bank and federal branch or agency that is not the largest national bank, based on total assets, controlled by a company owning two or more national banks. Nonlead national banks within any company should multiply their calculated general assessment by 0.88 to recognize the 12 percent discount. The 12 percent discount does not apply to the independent trust bank assessment or the independent credit card bank assessment, given that independent trust banks and independent credit card banks, by definition, are not affiliated with full-service national banks.
Each national bank and federal branch or agency pays the general assessment fee. Independent trust banks pay the general assessment fee and the independent trust bank assessment. Independent credit card banks pay the general assessment fee and the independent credit card bank assessment. Assessments should be calculated using the schedules below and then adjusted for the nonlead discount and/or condition surcharge.
General
Assessment Fee Schedule
If the amount of total balance sheet assets (consolidated domestic and foreign
subsidiaries) is: (millions) |
The Semiannual Assessment will be: |
Over |
But Not Over |
This Amount |
Plus |
Of Excess Over (millions) |
$ 0
|
$2
|
$5,627 |
0.000000000 |
$0 |
2 |
20 |
5,627 |
0.000233595 |
2 |
20 |
100 |
9,831 |
0.000186876 |
20 |
100 |
200 |
24,781 |
0.000121467 |
100 |
200 |
1,000 |
36,927 |
0.000102780 |
200 |
1,000 |
2,000 |
119,151 |
0.000084093 |
1,000 |
2,000 |
6,000 |
203,244 |
0.000072750 |
2,000 |
6,000 |
20,000 |
502,244 |
0.000063604 |
6,000 |
20,000 |
40,000 |
1,392,700 |
0.000050403 |
20,000 |
40,000 |
|
2,400,760 |
0.000033005
|
40,000 |
Independent Trust Bank Semiannual Assessment Schedule
If the total amount of Fiduciary and Related Assets is: (millions) |
The Independent Trust Bank Semiannual Assessment will be: |
Over |
But Not Over |
This Amount |
Plus |
Of Excess Over (millions) |
$0 |
1,000 |
21,377 |
0.000000000 |
$0 |
1,000 |
10,000 |
21,377 |
0.000004261 |
1,000 |
10,000 |
100,000 |
59,726 |
0.000000713 |
10,000 |
100,000 |
|
123,896 |
0.000000453 |
100,000 |
Independent Credit Card Bank Semiannual Assessment Schedule
If the bank's total off-balance sheet receivables attributable are: (millions) |
The Independent Credit Card Bank Semiannual Assessment will be: |
Over |
But Not Over |
$0 |
$100 |
$45,573 |
100 |
1,000 |
68,090 |
1,000 |
5,000 |
91,146 |
5,000 |
|
113,683 |
HOURLY RATE FOR EXAMINATIONS AND INVESTIGATIONS
Reference: 12 CFR 8.6
Effective date: Examinations and investigations subject to
the fee beginning after January 1, 2003.
Rate: $110 per hour to recover the
cost of conducting special examinations and investigations described in 12 CFR
8.6.
LICENSING FEES
All licensing fees have been suspended for
calendar year 2008. This change is
effective January 1, 2008.
PUBLICATIONS
The
OCC has an extensive list of paper-based publications available for a fee, as
well as publications available free of charge.
For a list of publications and current prices, consult the attached
price list. Please note that publication
prices are subject to change before the next schedule of fees is published.
Copies
of an array of items, including news releases, job announcements, issuances
(such as bulletins, advisories, and alerts) and other materials may be
downloaded free of charge from the agency’s Web site at: [http://www.occ.treas.gov]. For your convenience, the site contains a
search engine to locate materials by subject.
MISCELLANEOUS FEES
Prepayment
is required for bank histories and
certifications.
|
·
Less than 50 years
|
|
·
Fifty years or more
|
|
Bank
histories are provided to determine the successor to an inactive national
bank. They include corporate
transactions such as name changes, mergers, closings, and the current address
of the successor institution, if available.
Certificates
relating to licensing bank activities:
|
$ 100.00
|
|
|
·
Mergers
|
|
·
Articles of association
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|
·
Declaration of insolvency
|
|
·
Charter
|
|
·
Corporate existence
|
|
·
Fiduciary powers
|
|
|
|
Certificate
of Authenticity (12 CFR 4)
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$ 100.00
|
Copies
of certificates
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$ 10.00
|
Freedom
of Information Act and Privacy Act requests:
|
·
Search and review
|
|
·
Photocopying
|
|
|
|
Examination
reports:
|
|
·
Initial copy
|
Free
|
·
Additional copies - each
|
$ 10.00
|
·
Special requests - each
|
$ 50.00
|
/signed/
Thomas R. Bloom
Senior Deputy Comptroller for the Office of Management
and Chief Financial Officer
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Attachments
-
OCC Publications List http://www.occ.treas.gov/pubs1.htm Safety
and Soundness http://www.occ.treas.gov/handbook/ss.htm Compliance http://www.occ.treas.gov/handbook/compliance.htm Asset Management http://www.occ.treas.gov/handbook/amgt.htm Comptroller's Licensing Manual http://www.occ.treas.gov/corpapps/corpapplic.htm Description
of Publications http://www.occ.treas.gov/pubscrpt.htm Publication
Order Form
http://www.occ.treas.gov/publsta.htm
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