1996 National Bank Assessments Reduced by $18 Million

For the second year in a row, national bank assessments paid to the Office of the Comptroller of the Currency have been reduced. OCC today announced it will cut assessments by 3 percent and eliminate a potential 2 percent increase for inflation in l996. As a result of the assessment reduction and the elimination of the inflation adjustment, national banks will pay $18 million less in l996.

"The reductions made for 1996 added to the reductions in assessments and fees made in 1995 will provide national banks with nearly $58 million in annual savings for the past two years," said Comptroller of the Currency Eugene A. Ludwig. "Through continual efforts to improve the quality and efficiency of our supervision, I am optimistic we will continue to generate savings we can pass on to national banks," the Comptroller said.

The Comptroller also announced that the OCC is anticipating a restructuring of the assessment schedule to differentiate assessment rates based on the condition of individual national banks.