[Federal Register Volume 84, Number 162 (Wednesday, August 21, 2019)]
[Rules and Regulations]
[Pages 43475-43479]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-17535]



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 Rules and Regulations
                                                 Federal Register
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 This section of the FEDERAL REGISTER contains regulatory documents 
 having general applicability and legal effect, most of which are keyed 
 to and codified in the Code of Federal Regulations, which is published 
 under 50 titles pursuant to 44 U.S.C. 1510.
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 The Code of Federal Regulations is sold by the Superintendent of Documents. 
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  Federal Register / Vol. 84, No. 162 / Wednesday, August 21, 2019 / 
Rules and Regulations  

[[Page 43475]]



DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

12 CFR Part 8

[Docket No. OCC-2018-0039]
RIN 1557-AE58


Assessment of Fees

AGENCY: Office of the Comptroller of the Currency, Treasury.

ACTION: Final rule.

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SUMMARY: The Office of the Comptroller of the Currency (OCC) is 
adopting a final rule to revise its assessment rule to provide partial 
assessment refunds to national banks, Federal savings associations, and 
Federal branches and agencies of foreign banks (collectively, banks 
under the jurisdiction of the OCC) that exit the OCC's jurisdiction 
within the first half of each six-month period beginning the day after 
the date of the second or fourth quarterly Consolidated Report of 
Condition and Income (Call Report). The final rule will not change the 
current payment due dates for assessments nor will it change the way 
assessments are calculated for banks that remain under the OCC's 
jurisdiction. The final rule will also make technical changes to the 
assessments rules.

DATES: Effective September 20, 2019.

FOR FURTHER INFORMATION CONTACT: Deborah Thomas, AT Team Lead, 
Financial Management, (202) 649-5540; or Mitchell Plave, Special 
Counsel, Chief Counsel's Office, (202) 649-5490; or for persons who are 
deaf or hearing impaired, TTY, (202) 649-5597, 400 7th Street SW, 
Washington, DC 20219.

SUPPLEMENTARY INFORMATION:

I. Background

    The National Bank Act \1\ and the Home Owners' Loan Act \2\ 
authorize the Comptroller to fund the OCC's operations through 
assessments, fees, and other charges on banks under the jurisdiction of 
the OCC.\3\ In setting assessments, the Comptroller has broad authority 
to consider variations among institutions, including the nature and 
scope of the activities of the entity, the amount and type of assets 
that the entity holds, the financial and managerial condition of the 
entity, and any other factor the Comptroller determines is 
appropriate.\4\
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    \1\ Revised Statutes of the United States, Title LXII, 12 U.S.C. 
1 et seq.
    \2\ The Home Owners' Loan Act, 12 U.S.C. 1461 et seq.
    \3\ 12 U.S.C. 16, 481, 482, 1467.
    \4\ 12 U.S.C. 16. See also 12 U.S.C. 1467 (providing that the 
Comptroller has the authority to recover costs of examination of 
Federal savings associations ``as the Comptroller deems necessary or 
appropriate'').
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    The OCC collects assessments from banks under its jurisdiction in 
accordance with 12 CFR part 8. Under part 8, the base assessment for 
banks is calculated using a table with eleven categories, or brackets, 
each of which comprises a range of asset-size values. The assessment 
for each bank is the sum of a base amount, which is the same for every 
bank in its asset-size bracket, plus a marginal amount, which is 
computed by applying a marginal assessment rate to the amount in excess 
of the lower boundary of the asset-size bracket.\5\ The marginal 
assessment rate declines as asset size increases, reflecting economies 
of scale in bank examination and supervision.
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    \5\ 12 CFR 8.2(a). Only the total domestic assets of Federal 
branches and agencies are subject to assessment. 12 CFR 8.2(b)(2).
---------------------------------------------------------------------------

    The OCC's annual Notice of Office of the Comptroller of the 
Currency Fees and Assessments (Notice of Fees) sets forth the marginal 
assessment rates applicable to each asset-size bracket for each year, 
as well as other assessment components and fees. Under part 8, the OCC 
may adjust the marginal rates to account for inflation through the 
annual Notice of Fees.\6\ The OCC also has the discretion under part 8 
to adjust marginal rates by amounts other than inflation.\7\ The OCC 
may issue an interim or amended Notice of Fees if the Comptroller 
determines that it is necessary to revise assessments to meet the OCC's 
supervisory obligations.\8\
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    \6\ 12 CFR 8.2(a)(4).
    \7\ Id.
    \8\ 12 CFR 8.8(b).
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    Under 12 CFR 8.2, the OCC collects assessments on a semiannual 
basis, with fees due by March 31 and September 30 (payment due dates) 
of each year for the six-month period beginning on January 1 and July 1 
before each payment due date.\9\ Under this schedule, banks under the 
jurisdiction of the OCC pay half of the semiannual assessment 
prospectively and half retrospectively. This schedule for collection of 
assessments was adopted in 2005 when the OCC issued a rule to 
streamline the assessments billing process.\10\ Between 1976, when the 
OCC adopted the marginal assessments structure, and 2005, the OCC 
collected assessments prospectively for five months and retrospectively 
for one month.\11\
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    \9\ 12 CFR 8.2(a) and (b)(1).
    \10\ 70 FR 69641 (Nov. 17, 2005).
    \11\ 41 FR 3284 (Jan. 22, 1976).
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    Under current 12 CFR 8.2(a)(5) and (b)(3), each bank under the 
jurisdiction of the OCC on the date of the second or fourth quarterly 
Call Report is subject to the full assessment for the next six-month 
period. As noted in the Notice of Fees for 2018,\12\ only those 
institutions leaving OCC jurisdiction before the close of business on 
the date of the second or fourth quarterly Call Report avoid paying the 
semiannual assessment for the period beginning January 1 or July 1, as 
applicable.
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    \12\ See OCC Bulletin 2017-60 (Office the Comptroller of the 
Currency Fees and Assessments).
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II. Description of the Proposed Rule and Comments Received

Assessment Refunds

    The OCC published a proposed rule in the Federal Register on March 
20, 2019, to amend 12 CFR part 8 to provide partial assessment refunds 
to banks that exit the jurisdiction of the OCC within the first half of 
each six-month period beginning the day after the date of the second or 
fourth quarterly Call Report.\13\ Under the current assessments 
structure, banks that are subject to the jurisdiction of the OCC on the 
date of the second or fourth quarterly Call Report (December 31 or June 
30) are subject to the full assessment for the next six-month period 
beginning January 1 or July 1, with payment due

[[Page 43476]]

March 31 or September 30, as appropriate.\14\ Under the proposed rule, 
banks that leave OCC jurisdiction by the date of the first or third 
quarterly Call Report, which coincides with the appropriate payment due 
date, would receive a refund of assessments for the second three months 
of the semiannual assessment period. For example, a bank that was 
subject to the jurisdiction of the OCC as of December 31, the date of 
the fourth quarterly Call Report, would receive a refund of assessments 
for the second three months of the semiannual assessment period 
beginning January 1 if it leaves the OCC's jurisdiction by March 31, 
the date of the first quarterly Call Report.
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    \13\ 84 FR 10270 (March 20, 2019).
    \14\ 12 CFR 8.2(a) and (b).
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    The proposed rule was intended to eliminate the requirement that 
banks pay prospectively for one half of each assessment period after 
they no longer are subject to the jurisdiction of the OCC by setting 
the refund equal to the prospective portion of the assessment. Under 
the current rule, the payment due date effectively divides each six-
month period into two three-month periods, and a bank subject to the 
jurisdiction of the OCC on the date of the applicable Call Report 
(December 31 or June 30) must pay the full assessment on the payment 
due date of the semiannual assessment (March 31 and September 30) even 
if it has left OCC jurisdiction by that date. This structure can result 
in banks prospectively paying assessment fees for three-month periods 
during which they are not subject to the jurisdiction of the OCC at any 
time. Under the proposed rule, the payment due date continues to divide 
each six-month period into two three-month periods. However, a bank 
that leaves the OCC's jurisdiction after the fourth quarterly Call 
Report (December 31), but before the date of the first quarterly Call 
Report (March 31), would not be obligated to pay for the second half of 
that semiannual assessment period. Similarly, a bank that leaves the 
OCC's jurisdiction after the second quarterly Call Report (June 30), 
but before the date of the third quarterly Call Report (September 30) 
would also not be obligated to pay for the second half of that 
semiannual assessment period. In doing so, the proposed rule would 
assess a bank to cover only the relevant three-month period during 
which it was subject to the jurisdiction of the OCC.

Technical and Conforming Amendments

    The proposed rule also included technical and conforming 
amendments. These were intended to reduce ambiguity and make 
terminology consistent throughout 12 CFR part 8. The first proposed 
change would amend Sec. Sec.  8.2(d) and 8.6(c)(1)(iii) concerning the 
condition surcharge to replace the phrase ``at its most recent 
examination'' with the phrase ``prior to December 31 or June 30, as 
appropriate.'' This change would clarify that the condition surcharge 
is calculated in tandem with the OCC's calculation of other assessment 
components based on Call Report information as of December 31 and June 
30 of each year.\15\ This amendment to the rule would not change the 
OCC's current practice of calculating a bank's surcharge as of its most 
recent ratings prior to December 31 or June 30, as appropriate. Under 
this policy, surcharges are neither raised nor lowered between December 
31 and June 30, as appropriate, and the payment due dates of March 31 
and September 30, as appropriate.
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    \15\ See OCC Bulletin 2017-60 (Office the Comptroller of the 
Currency Fees and Assessments) (describing the process for 
calculating assessments).
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    The second proposed technical change would make several revisions 
to 12 CFR 8.7 concerning interest on delinquent assessments and fees 
and refunds in the case of an error or miscalculation of assessments or 
fees. First, it would add the prefatory clause, ``Within 30 calendar 
days of receipt of such notice, the OCC shall either--'' at Sec.  
8.7(b)(1). This clause was originally included at Sec.  8.7(b) as 
introductory text and was inadvertently deleted in connection with a 
prior rulemaking. Restoring it would clarify the OCC's obligations 
under Sec.  8.7(b). This change would also redesignate the current 
Sec.  8.7(b)(1) and (2) as Sec.  8.7(b)(1)(i) and (ii), respectively. 
In addition, the proposed rule would redesignate the current Sec.  
8.7(b) concluding text as Sec.  8.7(b)(2). Finally, the proposed rule 
would simplify the language used in Sec.  8.7(a) and (b) and clarify 
that provisions dealing with special examination or investigation fees 
apply to any institution subject to a special examination or 
investigation. These amendments would not change the OCC's current 
policy of considering assessment payments delinquent if received after 
the time for payment specified in 12 CFR 8.2; considering special 
examination and investigation fees delinquent if not received within 30 
calendar days of the invoice date; requiring interest on delinquent 
payments and fees; and providing either a refund or notice of its 
unwillingness to accept a refund request within 30 calendar days of 
receipt of a request.
    The proposed rule would also conform all references to the ``Office 
of the Comptroller of the Currency,'' ``Comptroller of the Currency,'' 
or ``Office'' to ``OCC,'' except with respect to references to the 
Notice of Fees; conform all references to ``Notice of Comptroller of 
the Currency Fees'' or ``Notice of Comptroller of the Currency of 
Fees'' to ``Notice of Office of the Comptroller of the Currency Fees 
and Assessments''; add hyphens to all compound modifiers where a hyphen 
is not currently used; remove references to ``Thrift Financial 
Reports,'' which are no longer used; remove a duplicate reference to 
``Uniform Financial Institutions Rating System'' in 12 CFR 
8.6(c)(1)(iii); remove a duplicate and unnecessary citation to 
authority in 12 CFR 8.6(a); replace an incorrect reference to ``each 
national bank'' with a reference to ``each Federal branch and agency'' 
in 12 CFR 8.2(b)(1); add the modifier ``national'' to references to 
banks and terms, such as ``independent credit card banks,'' as 
appropriate; add the term ``independent trust'' before references to 
banks and Federal savings associations in 12 CFR 8.6(c)(1)(iii) and add 
a reference to independent trust Federal savings associations where the 
provision currently only refers to banks; and add conforming references 
to Federal branches and agencies, as necessary.

Comments on the Proposed Rule

    The OCC received one comment on the proposed rule. The commenter, a 
trade association for banks, supported the proposed rule, stating that 
it would improve the fairness of the assessments process and 
appropriately refine the scope of fees and charges for banks under the 
jurisdiction of the OCC. In the commenter's opinion, the proposal would 
also improve the ability of banks to serve their customers and 
communities.

III. Description of the Final Rule

    The final rule adopts the assessment refund process presented in 
the proposed rule without change. Under the final rule, banks that exit 
the jurisdiction of the OCC within the first half of each six-month 
period beginning the day after the date of the second or fourth 
quarterly Call Report will receive a refund equal to the prospective 
portion of the assessment. This change will prevent banks that exit the 
OCC's jurisdiction from paying assessment fees for the three-month 
periods during which they are not subject to the OCC's jurisdiction at 
any time. This change will not affect current payment due

[[Page 43477]]

dates or the manner in which assessments are calculated.
    The final rule adopts the technical and conforming amendments in 
the proposed rule without substantive change. These amendments will 
reduce ambiguity and make terminology consistent throughout part 8. The 
final rule also makes a technical correction to the text of the 
proposed rule. This correction revises proposed 12 CFR 8.2(a)(5) and 
(b)(3) by substituting ``first'' and ``third'' for ``second'' and 
``fourth,'' as appropriate, to reflect the new proposed refund policy. 
This technical correction does not substantively change the partial 
refund process as proposed and is consistent with the description of 
the refund policy in the preamble to the proposed rule. The final rule 
also makes a technical correction to the proposed rule's prefatory 
clause at Sec.  8.7(b)(1) by removing the word ``notice'' and replacing 
it with the word ``request.'' This is a nonsubstantive change that 
aligns the wording with the phraseology in Sec.  8.7(b).

Regulatory Analysis

Paperwork Reduction Act of 1995

    In accordance with the Paperwork Reduction Act of 1995 (PRA) (44 
U.S.C. 3501 et seq.) the OCC may not conduct or sponsor, and an 
organization is not required to respond to, an information collection 
unless the information collection displays a currently valid Office of 
Management and Budget (OMB) control number. This final rule does not 
contain a collection of information under the PRA.

Regulatory Flexibility Act

    In general, the Regulatory Flexibility Act (RFA) (5 U.S.C. 601 et 
seq.) requires that in connection with a rulemaking, an agency prepare 
and make available for public comment a regulatory flexibility analysis 
that describes the impact of the rule on small entities. Under section 
605(b) of the RFA, this analysis is not required if an agency certifies 
that the rule will not have a significant economic impact on a 
substantial number of small entities and publishes its certification 
and a brief explanatory statement in the Federal Register along with 
its rule.
    The OCC currently supervises approximately 886 small entities.\16\ 
Although the number of OCC-supervised small banks affected will vary 
each year, the OCC does not expect that the final rule will affect a 
substantial number (generally defined as five percent or more of OCC-
supervised small entities) in any given year, based on the OCC's 
experience with departures from the charters in recent years. For 
example, had the final rule applied in 2018, the OCC would have 
refunded assessments totaling $579,000 to 22 banks, 19 of which were 
small banks (approximately two percent of OCC-supervised small 
entities). Similarly, if the final rule had applied in 2017, the OCC 
would have refunded assessments totaling $663,000 to 16 banks, 12 of 
which were small banks; in 2016, the OCC would have refunded 
assessments totaling $392,000 to 26 banks, all of which were small 
banks; and in 2015, the OCC would have refunded assessments totaling 
$555,000 to 29 banks, 27 of which were small banks. In each of these 
years, the number of institutions that would have been affected by the 
final rule was less than five percent of OCC-supervised small entities. 
Therefore, the final rule would not have affected a substantial number 
of small entities during these years.
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    \16\ The OCC bases its estimate of the number of small entities 
on the SBA's size thresholds for commercial banks and savings 
institutions, and trust companies, which are $550 million and $38.5 
million, respectively. Consistent with the General Principles of 
Affiliation in 13 CFR 121.103(a), the OCC counts the assets of 
affiliated financial institutions when determining if we should 
classify an OCC-supervised institution as a small entity. The OCC 
uses December 31, 2017, to represent size because a ``financial 
institution's assets are determined by averaging the assets reported 
on its four quarterly financial statements for the preceding year.'' 
See footnote 8 of the U.S. Small Business Administration's Table of 
Size Standards.
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    The OCC also considered whether the final rule will result in a 
significant economic impact on small entities. In general, the OCC 
classifies the economic impact of expected cost (or benefit) to comply 
with a rule on an individual bank as significant if the total estimated 
monetized costs (or benefits) in one year are greater than 5 percent of 
the bank's total annual salaries and benefits or 2.5 percent of the 
bank's total annual non-interest expense. Based on the above criteria, 
and the refund amounts for the years 2015 through 2018 outlined above, 
the OCC estimates that impact of the final rule, had it been in place 
for 2015-2018, would not have had a significant economic impact at any 
of the affected institutions.
    Based on the data and experience of the OCC in recent years with 
departures from the charters, the OCC certifies that the final rule 
will not have a significant economic impact on a substantial number of 
small entities.

Unfunded Mandates Reform Act of 1995

    The OCC analyzed the final rule under the factors set forth in the 
Unfunded Mandates Reform Act of 1995 (UMRA) (2 U.S.C. 1532). Under this 
analysis, the OCC considered whether the final rule includes a Federal 
mandate that may result in the expenditure by State, local, and Tribal 
governments, in the aggregate, or by the private sector, of $100 
million or more in any one year (adjusted for inflation). The OCC has 
determined that the final rule will not impose new mandates and, 
therefore, will not result in the expenditure of $100 million or more 
annually by state, local, and tribal governments, or by the private 
sector.

Riegle Community Development and Regulatory Improvement Act of 1994

    Section 302 of the Riegle Community Development and Regulatory 
Improvement Act of 1994 (RCDRIA) (12 U.S.C. 4802) requires that each 
Federal banking agency, in determining the effective date and 
administrative compliance requirements for new regulations that impose 
additional reporting, disclosure, or other requirements on insured 
depository institutions (IDIs), consider, consistent with principles of 
safety and soundness and the public interest, any administrative 
burdens that such regulations would place on depository institutions, 
including small depository institutions, and customers of depository 
institutions, as well as the benefits of such regulations.\17\ In 
addition, new regulations and amendments to regulations that impose 
additional reporting, disclosures, or other new requirements on IDIs 
generally must take effect on the first day of a calendar quarter that 
begins on or after the date on which the regulations are published in 
final form.\18\
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    \17\ 12 U.S.C. 4802(a).
    \18\ 12 U.S.C. 4802(b).
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    Because the final rule does not impose additional reporting, 
disclosure, or other requirements on IDIs, section 302 of RCDRIA does 
not apply. Nevertheless, the requirements of section 302 RCDRIA, and 
the administrative burdens and benefits of the final rule, were 
considered as part of the overall rulemaking process.

The Congressional Review Act

    Pursuant to the Congressional Review Act, the Office of Management 
and Budget's Office of Information and Regulatory Affairs designated 
this rule as not a ``major rule'', as defined at 5 U.S.C. 804(2).

[[Page 43478]]

List of Subjects in 12 CFR Part 8

    Assessments, Federal branches and agencies, National banks, 
Reporting and recordkeeping requirements, Savings associations.

Authority and Issuance

    For the reasons set forth in the preamble, chapter I of title 12 of 
the Code of Federal Regulations is amended as follows:

PART 8--ASSESSMENT OF FEES

0
1. The authority for part 8 continues to read as follows:

    Authority: 12 U.S.C. 16, 93a, 481, 482, 1467, 1831c, 1867, 3102, 
3108, and 5412(b)(2)(B); and 15 U.S.C. 78c and 78l.


0
2. Section 8.2 is amended by:
0
a. Adding a heading and revising the first column heading for the table 
in paragraph (a);
0
b. Removing ``the bank's'' and adding ``the national bank's'' in its 
place in paragraphs (a)(3) and (c)(3)(iii) and (viii);
0
c. Removing ``A bank's'' and adding ``A national bank's'' in its place 
in paragraph (a)(1);
0
d. Removing ``the bank'' and adding ``the national bank'' in its place 
in paragraphs (a)(1) and (2) and (c)(1) and (2);
0
e. Removing ``Comptroller of the Currency'' and adding ``OCC'' in its 
place in paragraphs (a) introductory text and (b)(1);
0
f. Revising paragraph (a)(5);
0
g. Removing ``non-lead bank'' and adding ``non-lead national bank'' in 
its place in paragraph (a)(6)(i);
0
h. Removing ``Notice of Comptroller of the Currency Fees'' and adding 
``Notice of Office of the Comptroller of the Currency Fees and 
Assessments'' in its place in paragraphs (a)(6)(i) and (b)(4)(i);
0
i. Removing ``Lead bank'' and adding ``Lead national bank'' in its 
place, removing ``each bank's'' and adding ``each national bank's'' in 
its place, and removing ``or Thrift Financial Report, as appropriate,'' 
in paragraph (a)(6)(ii)(A);
0
j. Removing ``Non-lead bank'' and adding ``Non-lead national bank'' in 
its place and removing ``lead bank'' and adding ``lead national bank'' 
in its place in paragraph (a)(6)(ii)(B);
0
k. Removing ``six month'' and adding ``six-month'' in its place and 
removing ``national bank'' and adding ``Federal branch and agency'' in 
its place in paragraph (b)(1);
0
l. Revising paragraph (b)(3);
0
m. Removing ``Federal branch or agency'' and adding ``Federal branch 
and agency'' in its place in paragraph (b)(4)(i);
0
n. Removing ``independent credit card banks'' and adding ``independent 
credit card national banks'' in its place in paragraph (c) heading;
0
o. Removing ``Notice of Comptroller of the Currency of Fees'' and 
adding ``Notice of Office of the Comptroller of the Currency Fees and 
Assessments'' in its place in paragraph (c)(1);
0
p. Removing ``independent credit card bank'' and adding ``independent 
credit card national bank'' in its place in paragraphs (c)(1) and (2) 
and (c)(3)(viii);
0
q. Removing ``Independent credit card banks'' and adding in its place 
``Independent credit card national banks'' and removing ``full 
service'' and adding ``full-service'' in its place in paragraph (c)(2);
0
r. Removing ``or a bank'' and adding ``or a national bank'' in its 
place in paragraph (c)(3)(iii);
0
s. Removing ``Independent credit card bank'' and adding ``Independent 
credit card national bank'' in its place in paragraph (c)(3)(vi);
0
t. Removing ``Independent credit card banks'' and adding ``Independent 
credit card national banks'' in its place in paragraph (c)(4); and
0
u. Revising paragraph (d).
    The revisions read as follows:


Sec.  8.2  Semiannual assessment.

    (a) * * *

                        Table 1 to Paragraph (a)
------------------------------------------------------------------------
   If the national bank's or Federal
   savings association's total assets
   (consolidated domestic and foreign             * * * * * * *
           subsidiaries) are:
------------------------------------------------------------------------
 
                              * * * * * * *
------------------------------------------------------------------------

* * * * *
    (5) The specific marginal rates and complete assessment schedule 
will be published in the ``Notice of Office of the Comptroller of the 
Currency Fees and Assessments,'' provided for at Sec.  8.8. Each 
semiannual assessment is based upon the total assets shown in the 
national bank's or Federal savings association's most recent 
``Consolidated Reports of Condition and Income'' (Call Report) 
preceding the payment date. Each national bank or Federal savings 
association subject to the jurisdiction of the OCC on the date of the 
second or fourth quarterly Call Report as appropriate, required by the 
OCC under 12 U.S.C. 161 and 12 U.S.C. 1464(v), is subject to the full 
assessment for the next six-month period. National banks and Federal 
savings associations that are no longer subject to the jurisdiction of 
the OCC as of the date of the first or third quarterly Call Report, as 
appropriate, will receive a refund of assessments for the second three 
months of the semiannual assessment period.
* * * * *
    (b) * * *
    (3) Each semiannual assessment of each Federal branch and each 
agency is based upon the total assets shown in the Federal branch's or 
agency's Call Report most recently preceding the payment date. Each 
Federal branch or agency subject to the jurisdiction of the OCC on the 
date of the second and fourth Call Reports is subject to the full 
assessment for the next six-month period. Federal branches and agencies 
that are no longer subject to the jurisdiction of the OCC as of the 
date of the first or third quarterly Call Report, as appropriate, will 
receive a refund of assessments for the second three months of the 
semiannual assessment period.
* * * * *
    (d) Surcharge based on the condition of the national bank, Federal 
savings association, or Federal branch or agency. Subject to any limit 
that the OCC prescribes in the ``Notice of Office of the Comptroller of 
the Currency Fees and Assessments,'' the OCC shall apply a surcharge to 
the semiannual assessment computed in accordance with paragraphs (a) 
through (c) of this section. This surcharge will be determined by 
multiplying the semiannual assessment computed in accordance with 
paragraphs (a) through (c) of this section by--
    (1) 1.5, in the case of any national bank or Federal savings 
association that receives a composite rating of 3 under the Uniform 
Financial Institutions Rating System (UFIRS) and any Federal branch or 
agency that receives a composite rating of 3 under the ROCA rating 
system (which rates risk management, operational controls,

[[Page 43479]]

compliance, and asset quality) at its most recent examination prior to 
December 31 or June 30, as appropriate; and
    (2) 2.0, in the case of any national bank or Federal savings 
association that receives a composite UFIRS rating of 4 or 5 and any 
Federal branch or agency that receives a composite rating of 4 or 5 
under the ROCA rating system at its most recent examination prior to 
December 31 or June 30, as appropriate.

0
3. Section 8.6 is amended by:
0
a. Revising paragraphs (a) introductory text and (a)(1) and (3);
0
b. Removing ``Notice of Comptroller of the Currency fees'' and adding 
``Notice of Office of the Comptroller of the Currency Fees and 
Assessments'' in its place in paragraph (b);
0
c. Removing ``Notice of Comptroller of the Currency Fees'' and adding 
``Notice of Office of the Comptroller of the Currency Fees and 
Assessments'' in its place in paragraphs (b), (c)(1)(i) and (ii), and 
(c)(3)(vii);
0
d. Removing ``trust banks'' and adding ``trust national banks'' in its 
place in paragraph (c) heading;
0
e. Removing ``Independent trust banks'' and ``independent trust banks'' 
wherever they appear and adding ``Independent trust national banks'' 
and ``independent trust national banks'' in their place, respectively, 
in paragraph (c)(1);
0
f. Revising paragraph (c)(1)(iii);
0
g. Removing ``Trust banks'' and adding ``Trust national banks'' in its 
place, removing ``trust bank'' and adding ``trust national bank'' in 
its place, and removing ``the bank'' and adding ``the national bank'' 
in its place in paragraph (c)(2); and
0
h. Removing ``Independent trust bank'' and adding ``Independent trust 
national bank'' in its place in paragraph (c)(3)(v).
    The revisions read as follows:


Sec.  8.6   Fees for special examinations and investigations.

    (a) Fees. The OCC may assess a fee for:
    (1) Examining the fiduciary activities of national banks, Federal 
branches of foreign banks, and Federal savings associations and related 
entities;
* * * * *
    (3) Conducting special examinations and investigations of an entity 
with respect to its performance of activities described in section 7(c) 
of the Bank Service Company Act (12 U.S.C. 1867(c)) if the OCC 
determines that assessment of the fee is warranted with regard to a 
particular national bank, Federal branch or agency of a foreign bank, 
or Federal savings association because of the high risk or unusual 
nature of the activities performed; the significance to the national 
bank's, Federal branch's or agency's, or Federal saving association's 
operations and income of the activities performed; or the extent to 
which the national bank, Federal branch or agency, or Federal savings 
association has sufficient systems, controls, and personnel to 
adequately monitor, measure, and control risks arising from such 
activities;
* * * * *
    (c) * * *
    (1) * * *
    (iii) Surcharge based on the condition of the independent trust 
national bank or of the independent trust Federal savings association. 
Subject to any limit that the OCC prescribes in the ``Notice of Office 
of the Comptroller of the Currency Fees and Assessments,'' the OCC 
shall adjust the semiannual assessment computed in accordance with 
paragraphs (c)(1)(i) and (ii) of this section by multiplying that 
figure by 1.5 for each independent trust national bank and independent 
trust Federal savings association that receives a composite UFIRS 
rating of 3 at its most recent examination prior to December 31 or June 
30, as appropriate, and by 2.0 for each independent trust national bank 
and independent trust Federal savings association that receives a 
composite UFIRS rating of 4 or 5 at such examination.
* * * * *

0
4. Section 8.7 is amended by revising paragraphs (a) and (b) and 
removing the undesignated paragraph following paragraph (b) to read as 
follows:


Sec.  8.7   Payment of interest on delinquent assessments and 
examination and investigation fees.

    (a) Each national bank, Federal savings association, Federal 
branch, and Federal agency shall pay to the OCC interest on its 
delinquent payments of semiannual assessments. In addition, each 
institution subject to a special examination or investigation fee shall 
pay to the OCC interest on its delinquent payments of special 
examination and investigation fees. Semiannual assessment payments will 
be considered delinquent if they are received after the time for 
payment specified in Sec.  8.2. Special examination and investigation 
fees will be considered delinquent if not received by the OCC within 30 
calendar days of the invoice date.
    (b) In the event that an institution believes that the notice of 
assessments or special examination and investigation fees contains an 
error or miscalculation, the institution may provide the OCC with a 
written request for a revised notice and a refund of any overpayments. 
Any such request for a revised notice and refund must be made after 
timely payment of the semiannual assessment under the dates specified 
in Sec.  8.2 or timely payment of the special examination and 
investigation fee within 30 calendar days of the invoice date.
    (1) Within 30 calendar days of receipt of such request, the OCC 
shall either--
    (i) Refund the amount of the overpayment; or
    (ii) Provide notice of its unwillingness to accept the request for 
a revised notice of assessments. In the latter instance, the OCC and 
the entity claiming the overpayment shall thereafter attempt to reach 
agreement on the amount, if any, to be refunded; the OCC shall refund 
this amount within 30 calendar days of such agreement.
    (2) The OCC shall be considered delinquent if it fails to return an 
overpayment in accordance with the time limitations specified in this 
paragraph (b). The OCC shall pay interest on any such delinquent 
payments.
* * * * *

0
5. Section 8.8 is amended by revising the section heading and paragraph 
(b) to read as follows:


Sec.  8.8   Notice of Office of the Comptroller of the Currency fees 
and assessments.

* * * * *
    (b) Interim and amended notice of fees. The OCC may issue a 
``Notice of Interim Office of the Comptroller of the Currency Fees and 
Assessments'' or a ``Notice of Amended Office of the Comptroller of the 
Currency Fees and Assessments'' from time to time throughout the year 
as necessary. Interim or amended notices will be effective 30 days 
after issuance.

     Dated: August 5, 2019.
Joseph M. Otting,
Comptroller of the Currency.
[FR Doc. 2019-17535 Filed 8-20-19; 8:45 am]
 BILLING CODE 4810-33-P