OCC 2004-54 OCC Bulletin Subject: Notice of Comptroller of the Currency Fees for Year 2005 Description: Year 2005 Fee Structure Date: December 1, 2004 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 2005. Changes are effective January 1, 2005. SEMIANNUAL ASSESSMENT Reference: 12 CFR 8.2 and 8.6 Assessments are due January 31, and July 31, 2005, based on call report information as of December 31, 2004, and June 30, 2005, respectively. Assessments are paid in advance. For example, the assessment due January 31, 2005, covers the period January 1 through June 30, 2005. 2005 Assessment Schedule Effective January 1, 2005: * 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 2.2 percent for 2005. As was the case in 2002, 2003, and 2004, 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 in 2003 and 2004, 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 are under the OCC's jurisdiction on December 31, 2004, or June 30, 2005, are subject to the full semi- annual assessment based on that call report date. For example, an institution that exits the national banking system on December 31, 2004, or June 30, 2005, will be subject to the full semi- annual assessment that is due on January 31, 2005, or July 31, 2005. Institutions must leave the national banking system prior to the call report date to avoid paying the full semi-annual assessment. The OCC's assessment schedule also 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, 2004, or June 30, 2005). 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 determine 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 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. ________________________________________ Thomas R. Bloom Senior Deputy Comptroller for the Office of Management and Chief Financial Officer Attachments: * The OCC's 2005 Schedule of Fees [http://www.occ.treas.gov/ftp/bulletin/2004-54a.pdf] * OCC Publications List [http://www.occ.treas.gov/pubs1.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]