OCC Reduces 2020 Assessments on National Banks and Federal Savings Associations

WASHINGTON—The Office of the Comptroller of the Currency (OCC) is reducing the rates in all fee schedules by 10 percent for the 2020 calendar year.

The 2020 reduction is in addition to the 10-percent reduction in the General Assessment Fee Schedule rates that the OCC implemented for the 2019 calendar year. The reduction in rates reflects increased operating efficiencies that the agency has achieved over the last several years. While reduced, the 2020 assessment level provides resources that enable the agency to recruit, train, and retain the talent and experience necessary to perform its important mission and continue to invest in initiatives that ultimately improve the function of this agency and the safety and soundness of the federal banking system.

"The OCC has made a concerted effort to operate more effectively and efficiently," said Comptroller of the Currency Joseph Otting. "We have looked to gain efficiency, while delivering the same high-quality supervision to national banks, federal savings associations, and federal branches of foreign banks. Now that we have demonstrated the ability to operate successfully at a lower cost, we can reduce the assessments we charge, while ensuring the federal banking system operates in a safe, sound, and fair manner."

The reduced assessments go into effect January 1, 2020 and will be reflected in assessments paid on March 31, 2020 and September 30, 2020.

Related Link

• OCC Bulletin 2019-59, Office of the Comptroller of the Currency Fees and Assessments: Calendar Year 2020 Fees and Assessments Structure