OCC to Impose Surcharge on Banks with High Ratings, Eliminate Annual Franchise Fee

Summary

The Office of the Comptroller of the Currency (OCC) is amending its assessment regulation to impose a surcharge on banks with high ratings under the Uniform Financial Institutions Rating System (UFIRS) and the ROCA rating system, with the goal of more equitably distributing the costs of supervising institutions experiencing significant problems, and also eliminating the annual franchise fee on banks registered as municipal and/or government securities dealers.