Strategy & Budget

Office of Financial Research Strategic Plan Fiscal Years 2015-2019

This plan provides OFR leaders with a roadmap for achieving the Office's mission, vision, goals, and objectives. It also fulfills the OFR's commitment to being transparent and accountable, and to linking activities to strategic goals and performance metrics.

Treasury's Assessment Program

The Dodd-Frank Wall Street Reform and Consumer Protection Act directed the Department of the Treasury to establish, by regulation, a schedule to collect assessments to pay the expenses of the Office of Financial Research, which include the expenses of the Financial Stability Oversight Council and certain expenses for the implementation of the orderly liquidation activities of the Federal Deposit Insurance Corporation. In a Notice of Proposed Rulemaking in January 2012, Treasury proposed a methodology for collecting the assessments, beginning on July 20, 2012, from 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. On May 21, 2012, the Treasury published a final rule for bank holding companies and an interim final rule for nonbank financial companies. Collected assessments are placed into the Financial Research Fund established by the Act. On May 24, 2018, the Economic Growth, Regulatory Relief, and Consumer Protection Act, Pub. L. No. 115-174, was signed into law. The Act changed the assessment threshold to $100 billion effective on the same date. A notice relating to operation of the Financial Research Fund assessment program in light of the Act’s passage is linked below.

Notice of Fees

An assessment fee rate published prior to each assessment period determines the semiannual assessment fee that the Treasury collects from each assessed company. This assessment fee is based on the company's total assessable assets, as defined in the rule.

Assessment Notice of Fees Date Assessment Date Assessment Period
1 6/29/12 7/20/12 7/21/12–3/31/13
2 2/15/13 3/15/13 4/1/12–9/30/13
3 8/15/13 9/16/13 10/1/13–3/31/14
4 2/17/14 3/17/14 4/1/14–9/30/14
5 8/15/14 9/15/14 10/1/14–3/31/15
6 2/17/15 3/16/15 4/1/15–9/30/15
7 8/14/15 9/15/15 10/1/15–3/31/16
8 2/16/16 3/15/16 4/1/16–9/30/16
9 8/15/16 9/15/16 10/1/16–3/31/17
10 2/15/17 3/15/17 4/1/17–9/30/17
11 8/15/17 9/15/17 10/1/17–3/31/18
12 2/15/18 3/15/18 4/1/18–9/30/18
13 8/15/18 9/17/18 10/1/18–3/31/19
Assessment Total Assessable Assets
(all eligible companies)
Assessment Basis Fee Rate
1 $17.8 trillion $137 million .000007659412
2 * NA NA NA
3 $17.3 trillion $35 million .000002021158
4 $19.3 trillion $47.621 million .000002465362
5 $19.5 trillion $58.599 million .000003003802
6 $19.7 trillion $47.728 million .000002419989
7 $20.6 trillion $44.791 million .000002172311
8 $20.4 trillion $59.373 million .000002911544
9 $19.4 trillion $45.087 million .000002329769
10 $19.0 trillion $48.922 million .000002568061
11 $19.1 trillion $39.275 million .000002054188
12 $18.8 trillion $26.218 million .000001391731
13 $18.3 trillion $29.968 million .000001636283

*No assessment was made on March 15, 2013, due to the available positive balance in the Financial Research Fund and revised projected spending under the FY 2013 budget.

The following formula is used to calculate the semiannual assessment fee for each company:

Company's Total Assessable Assets x Fee Rate = Semiannual Assessment Fee for each company

The total of all semiannual assessment fees for all companies is equal to the assessment basis. The assessment basis covers expenses of the OFR, the Council, and certain FDIC expenses related to their orderly liquidation activities, as defined in the rule.