(a) Assessment. Each assessed company shall pay to the Board an
assessment for any assessment period for which the Board determines
the company to be an assessed company.
(b) (1) Assessment formula. Except as provided in paragraph (b)(2) of
this section, the assessment will be calculated according to the Assessment
Formula, as follows:
Assessment formula.
| Column A |
Column
B |
Column
C |
Column
D |
| Base Amount ($50,000) |
+
(Total Assessable Assets |
×
Assessment Rate) |
=
Assessment |
(2) In any assessment period, if, at the time a company becomes a
bank holding company or savings and loan holding company, it also
becomes an assessed company, as defined in section 246.3, the Board
shall pro-rate that company’s assessment for that assessment
period based on the number of quarters in which such company is an
assessed company. For a nonbank financial company supervised by the
Board, for the assessment period that the company is designated for
Board supervision, Board shall pro-rate that company’s assessment
for that assessment period based on the number of quarters the company
has been a nonbank financial company supervised by the Board.
(c) Assessment rates. Assessment
rates means, with regard to a given assessment period, the two rates
published by the Board for the calculation of assessments for Category
IV and “other” firms and for Category I, II, and III firms.
(1) (i)
The assessment rate for Category IV and “other” firms
will be calculated according to this formula:
$$
\textit{Assessment rate}= \frac{\textit{[(Net Assessment Basis × Category IV and “other” firms’ share of total assessable} \\ \qquad\qquad\qquad\qquad \textit{assets of all assessed companies) × (1−S)]}}{ \textit{Category IV and “other” firms’ total assessable assets} }
$$
(ii) The
assessment rate for Category I, II, and III firms will be calculated
according to this formula:
$$
\textit{Assessment rate}= \frac{\textit{[(Net Assessment Basis × Category I, II, and III firms’ share of total assessable} \\ \textit{assets of all assessed companies) + (Net Assessment Basis × Category IV and} \\ \qquad\qquad\qquad \textit{“other” firms’ share of total assessable assets × S)]}}{ \textit{Category I, II, and III firms’ total assessable assets} }
$$
(2) For the
calculation set forth in paragraph (c)(1) of this section, the number
of assessed companies and the total assessable assets of all assessed
companies will each be that of the relevant assessment period, provided,
however, that for the assessment periods corresponding to 2012, 2013,
and 2014, the Board shall use the number of assessed companies and
the total assessable assets of the 2012 assessment period to calculate
the assessment rate.
(d) Assessment basis.
(1) For the 2012, 2013, and 2014 assessment
periods, the assessment basis is the amount of total expenses the
Board estimates is necessary or appropriate to carry out the supervisory
and regulatory responsibilities of the Board with respect to assessed
companies for 2012.
1(2) For the 2015 assessment period and
for
each
assessment period thereafter, the assessment basis is the average
of the amount of total expenses the Board estimates is necessary or
appropriate to carry out the supervisory and regulatory responsibilities
of the Board with respect to assessed companies for that assessment
period and the two prior assessment periods.
2(3) Net Assessment Basis is the assessment
basis, as defined by paragraph (d)(2), net of the total $50,000 base
amount charged to all assessed companies. Net Assessment Basis = assessment basis − (number of assessed companies ×
$50,000).
(4) The variable S represents the estimated share of total costs attributable
to changes in supervisory and regulatory responsibilities resulting
from EGRRCPA for Category IV and “other” firms. S = 0.1 (10 percent).
(e) Total assessable assets. Except as provided
in paragraph (f) of this section, total assessable assets are calculated
as follows:
(1) Bank holding companies. For any bank holding
company, other than a foreign bank holding company, total assessable
assets will be the average of the bank holding company’s total
consolidated assets as reported for the assessment period on the bank
holding company’s FR Y-9C or such other reports as determined
by the Board as applicable to the bank holding company,
(2) Foreign bank holding companies and foreign savings and loan holding
companies.
(i) In general. For any foreign bank holding company or any foreign savings and
loan holding company, with the exception of the 2012 and 2013 assessment
periods, total assessable assets will be the average of the foreign
bank holding company’s or foreign savings and loan holding company’s
total combined assets of its U.S. operations, net of intercompany
balances and transactions between U.S. domiciled affiliates, branches
and agencies, as reported for the assessment period on the Part 1
of the FR Y-7Q or such other reports as determined by the Board as
applicable to the foreign bank holding company or foreign savings
and loan holding company,
(ii) 2012
and 2013 assessment periods. For the 2012 and 2013 assessment
periods, for any foreign bank holding company, total assessable assets
will be the average of the sum of the line items set forth in this
section reported quarterly, plus any line items set forth in this
section reported annually for the assessment period on an applicable
regulatory reporting form for the assessment period for all of the
foreign bank holding company’s majority-owned:
(A) Top-tier, U.S.-domiciled
bank holding companies and savings and loan holding companies, calculated
as:
(1) Total assets (line
item 12) as reported on Schedule HC of the FR Y-9C and, as applicable;
(2) Total assets
(line item 1, column B) as reported on FR 2320;
(B) Related branches and
agencies of Foreign Banks in the United States, calculated as: total
claims on nonrelated parties (line item 1.i from column A on Schedule
RAL) plus net due from related institutions in foreign countries (line
items 2.a, 2.b(1), 2.b(2), and 2.c from column A, minus line items
2.a, 2.b(1), 2.b(2), and 2.c from column B, part 1 on Schedule M),
minus transactions with related nondepository majority-owned subsidiaries
in the U.S. (line item 1 from column A, part 3 on Schedule M), as
reported on the Report of Assets and Liabilities of U.S. Branches
and Agencies of Foreign Banks (FFIEC 002);
(C) U.S.-domiciled nonbank subsidiaries,
calculated as:
(1) For FR Y-7N filers: total assets (line item 10) as reported
for each nonbank subsidiary reported on Schedule BS—Balance Sheet
of the Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign
Banking Organizations (FR Y-7N); minus balances due from related institutions
located in the United States, gross (line item 4.a), as reported on
Schedule BS-M—Memoranda, and, as applicable;
(2) For FR Y-7NS (annual) filers:
total assets (line item 2) as reported for each nonbank subsidiary
reported on abbreviated financial statements (page 3) of the Abbreviated
Financial Statements of U.S. Nonbank Subsidiaries Held by Foreign
Banking Organizations (FR Y-7NS);
(D) Edge Act and agreement corporations that
are not reflected in the assets of a U.S.-domiciled parent’s
regulatory reporting form submission, calculated as claims on nonrelated
organizations (line item 9, “consolidated total” column
on Schedule RC of the Consolidated Report of Condition and Income
for Edge and Agreement Corporations (FR 2886b)), plus claims on related
organizations domiciled outside the United States (line items 2.a
and 2.b, column A on Schedule RC-M), as reported on FR 2886b;
(E) Banks and savings associations
that are not reflected in the assets of a U.S.-domiciled parent’s
regulatory reporting form submission, calculated as: total assets
(line item 12) as reported on Schedule RC—Balance Sheet of the
Consolidated Reports of Condition and Income for a Bank with Domestic
and Foreign Offices (FFIEC 031), or total assets (line item 12) as
reported on Schedule RC—Balance Sheet of the Consolidated Reports
of Condition and Income for a Bank with Domestic Offices Only (FFIEC
041), as applicable; and
(F) Broker-dealers that are not reflected in the assets of a U.S.-domiciled
parent’s regulatory reporting form submission, calculated as:
total assets as reported on statement of financial condition of the
Securities and Exchange Commission’s Form X-17A-5 (FOCUS REPORT),
Part II line item 16, Part IIa, line item 12, or Part II CSE, line
item 18, as applicable.
(3) (i) Savings and loan holding companies. For
any savings and loan holding company, other than a foreign savings
and loan holding company, total assessable assets will be, except
as provided in paragraph (e)(3)(ii) of this section, the average of
the savings and loan holding company’s total consolidated assets
as reported for the assessment period on the regulatory reports on
the savings and loan holding company’s Form FR Y-9C, column
B of the Quarterly Savings and Loan Holding Company Report (FR 2320),
or other reports as determined by the Board as applicable to the savings
and loan holding company. If the savings and loan holding company
is a grandfathered unitary savings and loan holding company, total
assessable assets will only include the assets associated with its
savings association subsidiary and its other financial activities.
(ii) If a company
does not calculate its total consolidated assets under GAAP for any
regulatory purpose (including compliance with applicable securities
laws), the company may request that the Board permit the company to
file a quarterly estimate of its total consolidated assets. The Board
may, in its discretion and subject to Board review and adjustment,
permit the company to provide estimated total consolidated assets
on a quarterly basis. The company’s total assessable assets
will be the average of the estimated total consolidated assets provided
for the assessment period.
(4) Nonbank financial
companies supervised by the Board. For a nonbank financial company
supervised by the Board, if the company is a U.S. company, this amount
will be the average of the nonbank financial company’s total
consolidated assets as reported for the assessment period on such
regulatory or other reports as are applicable to the nonbank financial company
determined by the Board; if the company is a foreign company, this
amount will be the average of the nonbank financial company’s
total combined assets of U.S. operations, net of intercompany balances
and transactions between U.S. domiciled affiliates, branches and agencies,
as reported for the assessment period on such regulatory or other
reports as determined by the Board as applicable to the nonbank financial
company.
