Office of the Comptroller of the Currency Fees and Assessments: Calendar Year 2024 Fees and Assessments Structure

The Office of the Comptroller of the Currency (OCC) has published a new bulletin to announce its assessment rates and fee schedule for national banks, federal savings associations, and federal branches and agencies of foreign banks and savings associations for the upcoming year starting January 1, 2024. Highlights of the upcoming fee schedule are as follows:
– the OCC will maintain banks‘ general assessment fees as they applied in the previous supervisory year. The OCC does not plan to apply an inflation adjustment for the upcoming supervisory year;
– the hourly-based fee for „special examinations and investigations“ will be increased from $161 to $170 per hour; and
– the pro-rated approach towards institutions entering the supervisory framework of the OCC in midst of an assessment cycle is somewhat altered for firms that have not yet submitted a call report: thereafter, such firms will be assessed „a prorated fraction of the lowest tier of the general assessment fee schedule, plus any additional assessments due under other assessment categories in 12 CFR 8“. For those institutions that have submitted a call report, there will be a pro-rated fee based on institutions‘ call reports as of December 31 or June 30 of the year prior to coming under OCC supervision.
To find out details on the new fee schedule, please refer to the enclosed document or follow above noted link.
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To conclude the OCC notes that invoices will be sent to institutions on March 31, 2024 and September 30, 2024. There will be a reasonable notice period before drafting the fee amounts from institutions‘ designated accounts, and it’s the responsibility of a bank to ensure the account is funded appropriately on the due dates. The OCC will charge interest on any late payments using the U.S. Department of the Treasury’s current value of funds rate published quarterly in the Federal Register.