Assessment of Fees on Large Bank Holding Companies and Nonbank Financial Companies Supervised by the Federal Reserve Board To Cover the Expenses of the Financial Research Fund

摘要

The Department of the Treasury is issuing a proposed rule to implement Section 155 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub. L. 111-203 or "Dodd-Frank Act"), which directs the Department to establish by regulation an assessment schedule for bank holding companies with total consolidated assets of $50 billion or greater and nonbank financial companies supervised by the Board of Governors of the Federal Reserve ("the Board") to collect assessments equal to the total expenses of the Office of Financial Research ("OFR" or "the Office"). Included in the Office's expenses are expenses of the Financial Stability Oversight Council ("FSOC" or "the Council"), as provided under Section 118 of the Dodd-Frank Act, and certain expenses of the Federal Deposit Insurance Corporation ("FDIC"), as provided under Section 210 of the Dodd-Frank Act. The proposed rule outlines the key elements of Treasury's assessment program, which will collect semiannual assessment fees from these companies beginning on July 20, 2012.