Tuesday, June 18, 2024

OCC to lower assessments

The Office of the Comptroller of the Currency will lower assessments in 2023 as part of an effort to close the pricing differential between state and federal charter assessments, Acting Comptroller of the Currency Michael Hsu said last week during remarks to the Texas Bankers Association.

Effective in March, the agency will make a 40% reduction in assessments for a bank’s first $200 million in total balance sheet assets. It will also make a 20% reduction for bank assets between $200 million and $20 billion. The cuts will result in a $41.3 million reduction in assessments for community banks next year, Hsu said.