OCC BULLETIN 2016-43 Calendar Year 2017 Fees and Assessments Structure
December 01, 2016 / Source: OCC
Subject: Office of the Comptroller of the Currency Fees and Assessments
Date: December 1, 2016
To: Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies of Foreign Banks, Department and Division Heads, All Examining Personnel, and Other Interested Parties
This bulletin informs all national banks, federal savings associations, and federal branches and agencies of foreign banks of fees and assessments charged by the Office of the Comptroller of the Currency (OCC) for calendar year 2017. The bulletin becomes effective January 1, 2017.
Note for Community Banks
This notice applies to all banks.
- For the 2017 assessment year, the OCC has adjusted the rates for all asset categories for inflation.
Reference: 12 CFR 8, “Assessment of Fees”
2017 Assessment Schedule
As of January 1, 2017,
- 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 periods beginning January 1 and July 1, respectively. For example, the assessment due March 31 covers the period January 1 through June 30.
- the marginal rates of the OCC’s general assessment schedule are 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 1.2 percent for 2017. The indexing adjustment applies to all assets of national banks, federal savings associations, and federal branches or agencies of foreign banks.
- fees assessed on independent trust banks and on independent credit card banks have also been adjusted for inflation.
- the OCC sends the assessment invoice, which includes the calculated assessment fee due, and drafts the fee amount on March 31 and September 30. The OCC provides seven business days’ notice of the amount to be drafted from an institution’s designated account. The institution is responsible for ensuring that the account is funded properly on the due dates.
- the OCC continues to charge interest on all payments received after the due date. The interest rate charged is the U.S. Department of the Treasury’s current value of funds rate published quarterly in the Federal Register.
- national banks, federal savings associations, and federal branches and agencies of foreign banks that are no longer subject to OCC supervision on or before December 31, 2016, or June 30, 2017, are not subject to the semiannual assessment for the period beginning January 1 or July 1, respectively. Only those institutions leaving the federal banking system before the close of business on those dates avoid paying the semiannual assessment for the period beginning January 1 or July 1, as applicable.