Treasury's Assessment Program
Section 155(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) directed the Secretary 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.
On May 24, 2018, the Economic Growth, Regulatory Relief, and Consumer Protection Act, Pub. L. No. 115-174 (EGRRCPA) was signed into law. Section 401 of EGRRCPA amended Section 155(d) of the Dodd-Frank Act. As amended, section 155(d) applies to bank holding companies with total consolidated assets of $250 billion or greater and nonbank financial companies supervised by the Board of Governors of the Federal Reserve System. In addition, EGRRCPA directs that any bank holding company identified as a global systemically important bank be considered a bank holding company with total consolidated assets equal to or greater than $250 billion for purposes of section 155(d) of the Dodd-Frank Act.
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|
|Assessment||Total Assessable Assets
(all eligible companies)
|Assessment Basis||Fee Rate|
|1||$17.8 trillion||$137 million||.000007659412|
|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|
|14||$17.7 trillion||$39.868 million||.000002251055|
|15||$17.8 trillion||$23.995 million||.000001347795|
|16||$14.3 trillion||$25.603 million||.000001790262|
*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.