The reduction reflects increased operating efficiencies that the agency has achieved over the last several years.
The Office of the Comptroller of the Currency has announced that it is reducing the rates in all fee schedules by three percent for the 2021 calendar year. The fees and assessments are applicable to national banks, federal savings associations, and federal branches and agencies of foreign banks. According to the OCC, the reduction reflects increased operating efficiencies that the agency has achieved over the last several years. The reduced assessments go into effect Jan. 1, 2021, and will be reflected in assessments paid on March 31, 2020, and Sept. 30, 2020.
In addition, the OCC stated that there will be no inflation adjustment to assessment rates for the 2021 assessment year, and the agency is increasing the hourly fee for special examinations and investigations to $150 from $140. The increase is to ensure adequacy in recovering the cost of conducting special examinations and investigation.
The OCC described a change related to how it assesses institutions that enter the federal banking system in the time between assessment cycles. Under the policy, the OCC will assess these new entrants to the federal charter on a prorated basis using call report information as of December 31 or June 30, depending on the date the institution enters the federal banking system.
Institutions that enter the federal banking system in the time between assessment cycles and have not previously filed call reports 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.
The OCC stated that it has adopted this policy to ensure that "supervisory efforts and resources are allocated and aligned once an institution is subject to the jurisdiction of the OCC."
November CRA evaluations. The OCC also released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of Nov. 1, 2020 through Nov. 30, 2020. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The possible ratings are outstanding, satisfactory, needs to improve, and substantial noncompliance. Of the 39 evaluations made public, 25 are rated satisfactory, and 14 are rated outstanding.
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