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Assessment of Fees

banking-occ · OCC · Rule · Published 2005-11-17 · Effective 2005-12-19 · 70 FR 69641

Document

Document number
05-22815
Federal Register citation
70 FR 69641
CFR reference
12 CFR 8
Type
Rule
Action
Interim final rule.
Category
banking-occ
Sub-agency
OCC
Publication date
2005-11-17
Effective date
2005-12-19
Treasury docket
Docket No. 05-20

Abstract

The Office of the Comptroller of the Currency (OCC) is issuing this interim final rule, with a request for comment, to amend its regulation at 12 CFR Part 8 concerning the timing of payments of OCC assessments. The interim final rule replaces the current process of assessment collection, which requires national banks to make the initial calculation of the amount due to the OCC. Under the revised assessment of fees process established by this interim rule, the OCC, rather than each national bank, will calculate the semiannual assessment fee based on the most recent Consolidated Reports of Condition and Income (Call Report). The fee will be due by March 31 and September 30 of each year, two months later than under the current process. Thus, payments that would have been due on January 31, 2006, will instead be due on March 31, 2006. The OCC will notify each national bank of the amount of its semiannual assessment and will automatically deduct that amount from each bank's designated bank account on the payment due date. The interim rule changes the assessment collection process only; it does not make any changes to the method for calculating assessments due from national banks.

Source

Authoritative
Federal Register document
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