Assessment of Fees
Sec.
8.1 Scope and
application.
8.2 Semiannual
assessment.
8.6 Fees for special examinations and investigations.
8.7 Payment of interest on delinquent assessments and
examination and investigation fees.
8.8 Notice of Comptroller of the Currency fees.
AUTHORITY:
12 U.S.C. 93a, 481, 482, 1867, 3102, and 3108; and 15 U.S.C. 78c
and 78l.
§ 8.1 Scope and application.
The
assessments contained in this part are made pursuant to the authority contained
in 12 U.S.C. 93a, 481, 482, 1867, 3102, and 3108; and 15 U.S.C. 78c and 78l.
[70 FR 69643, Nov. 17, 2005]
§ 8.2 Semiannual assessment.
(a) Each
national bank shall pay to the Comptroller of the Currency a semiannual
assessment fee, due by March 31 and September 30 of each year, for the six
month period beginning on January 1 and July 1 before each payment date. The
Comptroller of the Currency will calculate the amount due under this section
and provide a notice of assessments to each national bank no later than 7
business days prior to March 31 and September 30 of each year. The semiannual
assessment will be calculated as follows:
If the banks' total assets (consolidated domestic and foreign
subsidiaries) are:
|
The semiannual assessement is:
|
Over-- |
But not over-- |
This amount-- |
Plus |
Of excess over-- |
|
|
Base amount |
Marginal rates |
|
Column A |
Column B |
Column C |
Column D |
Column E |
Million |
Million |
|
|
Million |
$0
|
$2
|
X1
|
0
|
$0
|
2
|
20
|
X2
|
Y1
|
$2
|
20
|
100
|
X3
|
Y2
|
20
|
100
|
200
|
X4
|
Y3
|
100
|
200
|
1,000
|
X5
|
Y4
|
200
|
1,000
|
2,000
|
X6
|
Y5
|
1,000
|
2,000
|
6,000
|
X7
|
Y6
|
2,000
|
6,000
|
20,000
|
X8
|
Y7
|
6,000
|
20,000
|
40,000
|
X9
|
Y8
|
20,000
|
40,000
|
-- |
X10
|
Y9
|
40,000
|
(1)
Every national bank falls into one of the ten asset-size brackets denoted by
Columns A and B. A bank's semiannual assessment is composed of two parts. The
first part is the calculation of a base amount of the assessment, which is
computed on the assets of the bank up to the lower endpoint (Column A) of the
bracket in which it falls. This base amount of the assessment is calculated by
the OCC in Column C.
(2) The
second part is the calculation of assessments due on the remaining assets of
the bank in excess of Column E. The excess is assessed at the marginal rate
shown in Column D.
(3) The
total semiannual assessment is the amount in Column C, plus the amount of the
bank's assets in excess of Column E times the marginal rate in Column D:
Assessments = C+[(Assets-E) x D].
(4) Each
year, the OCC may index the marginal rates in Column D to adjust for the
percent change in the level of prices, as measured by changes in the Gross
Domestic Product Implicit Price Deflator (GDPIPD) for each June-to-June period.
The OCC may at its discretion adjust marginal rates by amounts less than the
percentage change in the GDPIPD. The OCC will also adjust the amounts in Column
C to reflect any change made to the marginal rate.
(5) The
specific marginal rates and complete assessment schedule will be published in
the ``Notice of Comptroller of the Currency Fees,'' provided for at Sec. 8.8 of
this part. Each semiannual assessment is based upon the total assets shown in
the national bank's most recent ``Consolidated Reports of Condition and
Income'' (Call Report) preceding the payment date. Each bank subject to the
jurisdiction of the Comptroller of the Currency on the date of the second or
fourth quarterly Call Report required by the Office under 12 U.S.C. 161 is
subject to the full assessment for the next six month period.
(6)(i)
Notwithstanding any other provision of this part, the OCC may reduce the
semiannual assessment for each non-lead bank by a percentage that it will
specify in the Notice of Comptroller of the Currency Fees described in Sec.
8.8.
(ii) For
purposes of this paragraph (a)(6):
(A) Lead
bank means the largest national bank controlled by a company, based on
a comparison of the total assets held by each national bank controlled by that
company as reported in each bank's Call Report filed for the quarter
immediately preceding the payment of a semiannual assessment.
(B) Non-lead
bank means a national bank that is not the lead bank controlled by a
company that controls two or more national banks.
(C) Control
and company have the same meanings as these terms have in sections
2(a)(2) and 2(b), respectively, of the Bank Holding Company Act of 1956 (12
U.S.C. 1841(a)(2) and (b)).
(b)(1)
Each Federal branch and each Federal agency shall pay to the Comptroller of the
Currency a semiannual assessment fee, due by March 31 and September 30 of each
year, for the six month period beginning on January 1 and July 1 before each
payment date. The Comptroller of the Currency will calculate the amount due
under this section and provide a notice of assessments to each national bank no
later than 7 business days prior to March 31 and September 30 of each year.
(2) The
amount of the semiannual assessment paid by each Federal branch and Federal
agency shall be computed at the same rate as provided in the Table in 12 CFR
8.2(a); however, only the total domestic assets of the Federal branch or
Federal agency shall be subject to assessment.
(3) Each
semiannual assessment of each Federal branch or Federal agency is based upon
the total assets shown in the Federal branch's Call Report most recently
preceding the payment date. Each Federal branch or Federal agency subject to
the jurisdiction of the OCC on the date of the second and fourth Call Reports
is subject to the full assessment for the next six-month period.
(4)(i)
Notwithstanding any other provision of this part, the OCC may reduce the
semiannual assessment for each non-lead Federal branch or agency by an amount
that it will specify in the Notice of Comptroller of the Currency Fees
described in Sec. 8.8.
(ii) For
purposes of this paragraph (b)(4):
(A) Lead
Federal branch or agency means the largest Federal branch or agency of
a foreign bank, based on a comparison of the total assets held by each Federal
branch or agency of that foreign bank as reported in each Federal branch's or
agency's Call Report filed for the quarter immediately preceding the payment of
a semiannual assessment.
(B) Non-lead
Federal branch or agency means a Federal branch or Federal agency that
is not the lead Federal branch or agency of a foreign bank that controls two or
more Federal branches or agencies.
(c) Additional assessment for independent credit card
banks--(1) General rule. In addition to the assessment
calculated according to paragraph (a) of this section, each independent credit
card bank will pay an assessment based on receivables attributable to credit
card accounts owned by the bank. This assessment will be computed by adding to
its asset-based assessment an additional amount determined by its level of
receivables attributable. The dollar amount of the additional assessment will
be published in the ``Notice of Comptroller of the Currency Notice of Fees,''
described at Sec. 8.8.
(2) Credit card banks affiliated with full-service
national banks. The OCC will assess an independent credit card bank in
accordance with paragraph (c)(1) of this section, notwithstanding that the bank
is affiliated with a full-service national bank, if the OCC concludes that the
affiliation is intended to evade this part.
(3) Definitions. For purposes of this
paragraph (c), the following definitions apply:
(i) Affiliate has the same meaning as this
term has in 12 U.S.C. 221a(b).
(ii) Engaged primarily in card operations means a
bank described in section 2(c)(2)(F) of the Bank Holding Company Act (12 U.S.C.
1841(c)(2)(F)) or whose ratio of total gross receivables attributable to the
bank's balance sheet assets exceeds 50%.
(iii) Full-service national bank is a national
bank that generates more than 50% of its interest and non-interest income from
activities other than credit card operations or trust activities and is
authorized according to its charter to engage in all types of permissible
banking activities.
(iv) Independent credit card bank is a
national bank that engages primarily in credit card operations and is not
affiliated with a full- service national bank.
(v) Receivables attributable is the total
amount of outstanding balances due on credit card accounts owned by an
independent credit card bank (the receivables attributable to those accounts)
on the last day of the assessment period, minus receivables retained on the
bank's balance sheet as of that day.
(4) Reports of receivables attributable.
Independent credit card banks will report receivables attributable data to the
OCC semiannually at a time specified by the OCC.
(d) Surcharge based on the condition of the bank.
Subject to any limit that the OCC prescribes in the Notice of the Comptroller
of the Currency Fees, the OCC shall apply a surcharge to the semiannual
assessment computed in accordance with paragraphs (a) through (c) of this
section. This surcharge will be determined by multiplying the semiannual
assessment computed in accordance with paragraphs (a) through (c) of this
section by--
(1) 1.5, in the case of any bank that receives a composite
rating of 3 under the Uniform Financial Institutions Rating System (UFIRS) and
any Federal branch or agency that receives a composite rating of 3 under the
ROCA rating system (which rates risk management, operational controls,
compliance, and asset quality) at its most recent examination; and
(2) 2.0, in the case of any bank that receives a
composite UFIRS rating of 4 or 5 and any Federal branch or agency that receives
a composite rating of 4 or 5 under the ROCA rating system at its most recent
examination.
[44 FR 20065, Apr. 4, 1979, as amended at 49 FR 26205, June 27, 1984; 49 FR
50602, Dec. 31, 1984; 53 FR 48627, Dec. 1, 1988; 55 FR 49842, Nov. 30, 1990; 57
FR 22416, May 28, 1992; 61 FR 64002, Dec. 2, 1996; 62 FR 54745, Oct. 21, 1997;
62 FR 64137, Dec. 4, 1997; 66 FR 29893, June 1, 2001; 66 FR 57647, Nov. 16,
2001; 66 FR 58786, Nov. 23, 2001; 67 FR 57509, Sept. 11, 2002; 67 FR 62873,
Oct. 9, 2002; 70 FR 69643, Nov. 17, 2005]
§
8.6 Fees for special examinations and investigations.
(a) Fees. Pursuant to the authority contained
in 12 U.S.C. 481 and 482, the Office of the Comptroller of the Currency
assesses a fee for:
(1) Examining the fiduciary activities of national
banks and related entities;
(2) Conducting special examinations and investigations
of national banks and Federal branches or Federal agencies of foreign banks;
(3) Conducting special examinations and investigations
of an entity with respect to its performance of activities described in section
7(c) of the Bank Service Company Act (12 U.S.C. 1867(c)), if the OCC determines
that assessment of the fee is warranted with regard to a particular bank
because of the high risk or unusual nature of the activities performed; the
significance to the bank's operations and income of the activities performed;
or the extent to which the bank has sufficient systems, controls, and personnel
to adequately monitor, measure, and control risks arising from such activities;
(4) Conducting special examinations and investigations of
affiliates of national banks and Federal branches or Federal agencies of
foreign banks; and
(5) Conducting examinations and investigations made
pursuant to 12 CFR part 5, Rules, Policies, and Procedures for Corporate
Activities.
(b) Notice of Comptroller of the Currency Fees. The
OCC publishes the fee schedule for fiduciary activities, special examinations
and investigations, examinations of affiliates and examinations related to
corporate activities in the Notice of Comptroller of the Currency Fees
described in Sec. 8.8.
(c) Additional assessments on trust banks--(1) Independent
trust banks. The assessment of independent trust banks will include a
fiduciary and related asset component, in addition to the assessment calculated
according to Sec. 8.2 of this part, as follows:
(i) Minimum fee. All independent trust banks will
pay a minimum fee, to be provided in the Notice of Comptroller of the Currency
Fees.
(ii) Additional amount for independent trust banks with
fiduciary and related assets in excess of $1 billion. Independent
trust banks with fiduciary and related assets in excess of $1 billion will pay
an amount that exceeds the minimum fee. The amount to be paid will be
calculated by multiplying the amount of fiduciary and related assets by a rate
or rates provided by the OCC in the Notice of Comptroller of the Currency Fees.
(iii) Surcharge based on the condition of the
bank. Subject to any limit that the OCC prescribes in the Notice of
the Comptroller of the Currency Fees, the OCC shall adjust the semiannual
assessment computed in accordance with paragraphs (c)(1)(i) and (ii) of this
section by multiplying that figure by 1.5 for each independent trust bank that
receives a composite rating of 3 under the Uniform Financial Institutions
Rating System (UFIRS) at its most recent examination and by 2.0 for each bank
that receives a composite UFIRS rating of 4 or 5 at such examination.
(2) Trust banks affiliated with full-service national banks.
The OCC will assess a trust bank in accordance with paragraph (c)(1) of this
section, notwithstanding that the bank is affiliated with a full-service
national bank, if the OCC concludes that the affiliation is intended to evade
the assessment regulation.
(3) Definitions. For purposes of this paragraph (c)
of this section, the following definitions apply:
(i) Affiliate has the same meaning as this term has
in 12 U.S.C. 221a(b);
(ii) Full-service national bank is a national
bank that generates more than 50% of its interest and non-interest income from
activities other than credit card operations or trust activities and is
authorized according to its charter to engage in all types of permissible
banking activities.
(iii) Independent trust bank is a national bank that has
trust powers, does not primarily offer full-service banking, and is not
affiliated with a full-service national bank; and
(iv) Fiduciary and related assets are
those assets reported on Schedule RC-T of FFIEC Forms 031 and 041, Line 9
(columns A and B) and Line 10 (column B), any successor form issued by the
FFIEC, and any other fiduciary and related assets defined in the Notice of
Comptroller of the Currency Fees.
[59 FR 59642, Nov. 18, 1994, as amended at 65 FR 75862, Dec. 5, 2000; 66 FR
23153, May 8, 2001; 66 FR 29894, June 1, 2001; 67 FR 37665, May 30, 2002; 70 FR
69643, Nov. 17, 2005]
§
8.7 Payment of interest on delinquent assessments and examination and
investigation fees.
(a)
Each national bank, each Federal branch, and each Federal agency shall pay to
the Comptroller of the Currency interest on its delinquent payments of
semiannual assessments. In addition, each national bank and each entity with a
trust department examined by the Comptroller of the Currency and each
institution that is the subject of a special examination or investigation
conducted by the Comptroller of the Currency shall pay to the Comptroller of
the Currency interest on its delinquent payments of examination and
investigation fees. Semiannual assessment payments will be considered
delinquent if they are received after the time for payment specified in Sec.
8.2. Examination and investigation fees will be considered delinquent if not
received by the Comptroller of the Currency within 30 calendar days of the
invoice date.
(b) In
the event that an entity that is required to make semiannual assessment
payments or trust examination fee payments believes that the notice of
assessments prepared by the Comptroller of the Currency contains an error of
miscalculation, the entity may provide the Comptroller of the Currency with a
written request for a revised assessment notice and a refund of any
overpayments. Any such request for a revised notice and refund must be made
after timely payment of the semiannual assessment under the dates specified in
Sec. 8.2.
(1)
Refund the amount of the overpayment or
(2)
Provide notice of its unwillingness to accept the request for a revised notice
of assessments. In the latter instance, the Comptroller of the Currency and the
entity claiming the overpayment shall thereafter attempt to reach agreement on
the amount, if any, to be refunded; the Comptroller of the Currency shall
refund this amount within 30 calendar days of such agreement.
The Comptroller of the Currency shall be considered delinquent if it fails to
return an overpayment in accordance with the time limitations specified in this
paragraph (b). The Comptroller of the Currency shall pay interest on any such
delinquent payments.
(c)
Interest on delinquent payments, as described in paragraphs (a) and (b) of this
section, will be assessed beginning the first calendar day on which payment is
considered delinquent, and on each calendar day thereafter up to and including
the day payment is received. Interest will be simple interest, calculated for
each day payment is delinquent by multiplying the daily equivalent of the
applicable interest rate by the amount delinquent. The rate of interest will be
the United States Treasury Department's current value of funds rate (the ``TFRM
rate''); that rate is issued under the Treasury Fiscal Requirements Manual and
is published quarterly in the Federal Register. The interest rates applicable
to a delinquent payment will be determined as follows:
(1) For
delinquent days occurring from January 1 to March 31, the rate will be the TFRM
rate that is published the preceding December for the first quarter of the
ensuing year.
(2) For
delinquent days occurring from April 1 to June 30, the rate will be the TFRM
rate that is published the preceding March for the second quarter of that year.
(3) For
delinquent days occurring from July 1 to September 30, the rate will be the
TFRM rate that is published the preceding June for the third quarter of that
year.
(4) For
delinquent days occurring from October 1 to December 31, the rate will be the
TFRM rate that is published the preceding September for the fourth quarter of
that year.
[48 FR 30599, July 1, 1983. Redesignated and amended at 49 FR 50605, Dec. 31,
1984; 70 FR 69643, Nov. 17, 2005]
§ 8.8
Notice of Comptroller of the Currency fees.
(a) December
notice of fees. A ``Notice of Comptroller of the Currency Fees'' shall
be published no later than the first business day in December of each year for
fees to be charged by the Office during the upcoming year. These fees will be
effective January 1 of that upcoming year.
(b) Interim
notice of Comptroller of the Currency fees. The OCC may issue an
``Interim Notice of Comptroller of the Currency Fees'' or issue an amended
``Notice of Comptroller of the Currency Fees'' from time to time throughout the
year as necessary. Interim or amended notices will be effective 30 days after
issuance.
[55 FR 49842, Nov. 30, 1990, as amended at 70 FR 69644, Nov. 17, 2005]
|
Last Revised: Sunday,
January 1, 2006 16:14:35 |
|