ABA Comment Letter to OCC on Fee Rebate

Ladies and Gentlemen:

The American Bankers Association (ABA) appreciates the opportunity to respond to the Noticeof Proposed Rulemaking (Proposal) from the Office of the Comptroller of the Currency (OCC)on partial refunds of assessments for national banks, Federal savings associations, and Federalbranches of foreign banks (collectively, Institutions) that leave OCC jurisdiction within the firstthree months of a six-month assessment period. OCC’s current regulations under the NationalBank Act and the Home Owners’ Loan Act provide that OCC will collect assessments fromInstitutions on a semiannual basis to fund its operations, with assessments due by March 31 andSeptember 30 of each year for the six-month period beginning on January 1 and July 1 beforeeach payment date. Each Institution subject to the jurisdiction of the OCC on the date of thesecond or fourth quarterly Call Report is currently subject to the full assessment for the next six-month period.

Under the Proposal, Institutions that leave OCC jurisdiction between the date of the applicableCall Report (on which that period’s assessment is based) and the related payment due date in asemi-annual assessment period would receive a refund of assessments for the second threemonths of that period. As a result of the refund, OCC assessments paid by Institutions that leaveits jurisdiction would cover only the three-month period during which they are subject to thejurisdiction of the OCC.

ABA appreciates OCC’s recognition that it is appropriate to relieve Institutions from the costburden of assessments for periods during which they are not at any time subject to OCCjurisdiction. The Proposal improves the fairness and appropriately refines the scope of fees andcharges for regulatory oversight of Institutions, which will improve their ability to serve theircustomers and communities.

Sincerely,

Hu Benton
Vice President
Banking Policy