Updated December 1, 2003
The Office of the Comptroller of the Currency is primarily funded by assessments on the assets held by national banks and fees it levies for services. For 2004, the fees include:
LICENSING FEES 1/
Reference: 12 CFR 5.5
Payment of Fees
Fees should be paid by check. Checks should be made payable to the "Comptroller of the Currency" and accompany the application. Payments by check will be converted into an electronic fund transfer. Please read the following notice if paying by check.
The Licensing Fee Schedule is as follows:
LICENSING FEES - Endnotes
1/ Expedited processing is available to eligible banks as defined in Parts 5 and 28. Applicants may request a reduced fee for transactions requiring multiple filings, steps, or banks. Applicants requesting reduced fees should consult with the licensing manager in the appropriate district office in advance of filing. Generally, fee concessions are not granted unless savings in OCC's processing cost are demonstrated.
2/ These fees are appropriate for charter applications submitted by a group of individuals or a sponsor that is not a bank holding company for purposes of the Bank Holding Company Act; or a sponsor that has received Federal Reserve Board approval as a bank holding company but has been in operation for less than three years prior to filing the application to organize a new national bank.
3/ Includes banks that will operate predominantly on or via the Internet, but also have limited branch or nonbranch physical facilities, such as kiosks or ATMs (limited facility bank), as well as banks that will operate solely via the Internet (Internet-only bank).
4/ The OCC does not require a licensing filing fee for applications for new national bank charters or branches to be located in a low- or moderate-income area as defined in 12 CFR 25.12(l), (n)(l), and (n)(2), and where no other depository institution operates a branch or main office.
5/ The stated fees are for a transaction involving two banks. If more than two affiliated banks are involved, and, if the following criteria are met, the OCC may charge a fee of $100 for each additional intrastate charter and $200 for each additional interstate charter involved in the transaction. Criteria: a) the acquiring bank is eligible, b) current national bank assets exceed nonnational bank assets, and c) the combination presents no expected complications. Otherwise, additional fees will be required equal to no more than one-half the stated fee times the number of banks, based on the marginal increases in the OCC's processing costs attributable to the additional banks.
An application that does not qualify for expedited review because it involves either an interim bank, a trust bank, or a credit card bank, is nonetheless charged the expedited - business reorganization fee if (1) the interim bank is merging with an eligible bank or (2) the trust bank or credit card bank is a subsidiary of a bank holding company whose lead bank is an eligible national bank or is a subsidiary of an eligible national bank. However, the application is not eligible for expedited review.
The "Expedited - Business Reorganization" fee is charged for branch purchase and assumption transactions between affiliated institutions. Purchase and assumption transactions between unaffiliated banks are charged either the "Standard" or the "Expedited - Streamlined Application" fee, as appropriate.
8/ The fee listed is for one branch. Multiple branches filed together and published on the same date may be charged $100 per additional bank branch. The OCC does not require a licensing filing fee for applications for branches to be located on an Indian reservation.
10/ The fee for a change-in-bank-control filing should be borne by the party(ies) acquiring the shares. The fee for increases by an existing officer or director is available for persons who have been associated with the bank for more than three years.
11/ A national bank generally need only submit a notice to increase its permanent capital. However, prior OCC approval is required to increase permanent capital if a bank is required by the OCC to obtain prior approval; it plans to sell common or preferred stock for consideration other than cash; or it will receive a material noncash contribution to capital surplus.
12/Includes distributions from surplus or surplus accounts (unless to pay dividends from surplus that was transferred from prior period earnings); acquisitions of treasury stock; or retirement of outstanding shares. The expedited fee applies to an application to conduct a reverse stock split. No fee is required for applications to pay a dividend pursuant to 12 USC 60(b) unless it is a dividend-in-kind.
13/Prior approval is required if the OCC has notified the bank that it must receive prior approval or the bank will become inadequately capitalized after the transaction. Otherwise, a bank may issue subordinated debt without prior OCC approval. However, if the bank would like the subordinated debt to count as Tier 2 capital, it must provide the OCC with notification after the debt has been issued. No fee is charged for this request. No approval is required for eligible banks to repay subordinated debt.
The OCC has an extensive list of paper-based publications available for a fee, as well as publications available free of charge. For a list of publications and current prices, please consult the attached price list. Please note that publication prices are subject to change before the next schedule of fees is published
Copies of an array of items, including news releases, job announcements, issuances (such as bulletins, advisories, and alerts) and other materials may be downloaded free of charge from the agency's Web site at: http://www.occ.treas.gov. For your convenience, the site contains a search engine to locate materials by subject.
Prepayment is required for bank histories and certifications.
Bank histories are provided to determine the successor to an inactive national bank. They include corporate transactions such as name changes, mergers, closings, and the current address of the successor institution, if available.
Cynthia T. Petitt
Acting Senior Deputy Comptroller for the Office of Management
and Chief Financial Officer
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