Comptroller of the Currency
Administrator of National Banks

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

Independent Trust Bank Semiannual Assessment Schedule

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

Reference: 12 CFR 5.5

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.

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.

/signed/           Thomas R. Bloom Senior Deputy Comptroller for the Office of Management and Chief Financial Officer

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