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Board of Governors of the Federal Reserve System
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Press Release
April 15, 2013

Federal Reserve Board invites comment on
proposal to establish annual assessments
For immediate release
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The Federal Reserve Board on Monday invited comment on a proposal
to establish an annual assessment of bank holding companies and
savings and loan holding companies with $50 billion or greater in total
consolidated assets and for nonbank financial companies designated by
the Financial Stability Oversight Council for supervision by the Federal
Reserve.
The Dodd-Frank Wall Street Reform and Consumer Protection Act
directs the Federal Reserve to collect assessments, fees, or other
charges equal to the expenses the Board estimates are necessary and
appropriate to carry out its supervisory and regulatory responsibilities for
these large financial companies. The proposed rule outlines how the
Federal Reserve Board would determine which companies are
assessed, estimate the total expenses that are necessary or appropriate
to carry out its supervisory and regulatory responsibilities for such
companies, determine the amount of each company's assessment, and
bill for and collect the assessments.
Under the proposal, each calendar year would be an assessment
period. The Federal Reserve would notify each company of the amount
of its assessment no later than July 15 of the year following the
assessment period. Payments would be due by September 30.
Under the proposal, 2012 would be the first assessment period and

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payments would not be collected until the rule is finalized. Using the
methodologies in the proposal, the Board estimates that for 2012 there
would be approximately 70 companies assessed and the Board would
collect a total of approximately $440 million. All assessments collected
by the Federal Reserve would be transferred to the U.S. Treasury.
Comments on the proposed rule must be submitted by June 15.
For media inquiries, call 202-452-2955
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Last Update: April 15, 2013

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BOARD OF GOVERNORS of the FEDERAL RESERVE SYSTEM
20th Street and Constitution Avenue N.W., Washington, DC 20551