On 9 July 2014, the Office of the Comptroller of the Currency ("OCC") published a final rule that increases assessments on national banks and federal savings associations ("FSAs") with total assets over $40 billion. The final rule, which becomes effective on 8 August 2014, would raise the marginal assessment rate for national banks and FSAs with more than $40 billion in assets by 14.5 percent beginning 30 September 2014. The final rule will not affect assessment rates for banks and FSAs with $40 billion or less in total assets.
The full text of the OCC final rule is available at: http://www.occ.gov/news-issuances/federal-register/79fr38768.pdf.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
