PART 246—SUPERVISION AND REGULATION ASSESSMENTS OF FEES (REGULATION TT) Authority: Pub. L. 111-203, 124 Stat. 1376, 1526 (2010), Pub. L. 115-174, 132 Stat. 1296 (2018), and section 11(s) of the Federal Reserve Act (12 U.S.C. 248(s)). Source: 78 FR 52402, Aug. 23, 2013, unless otherwise noted. § 246.1 Authority, purpose and scope. (a) Authority. (b) Scope. (1) Any bank holding company having total consolidated assets of $100 billion or more, as defined in this section; (2) Any savings and loan holding company having total consolidated assets of $100 billion or more, as defined below; and (3) Any nonbank financial company supervised by the Board, as defined § 246.2. (c) Purpose. (d)(1) Reservation of authority. (2) Use of comparable financial information. [78 FR 52492, Aug. 23, 2013, as amended at 85 FR 78953, Dec. 8, 2020] § 246.2 Definitions. As used in this part: (a) Assessment period (b) Bank (c) Bank holding company (d) Company (e) Council (f) Foreign bank holding company (g) Foreign savings and loan holding company (h) GAAP (i) Grandfathered unitary savings and loan holding company (j) Nonbank financial company supervised by the Board (k) Notice of assessment (l) Savings and loan holding company (m) Savings association (n) Category I, II, and III firms (o) Category IV firms (p) “Other” firms [78 FR 52492, Aug. 23, 2013, as amended at 85 FR 78953, Dec. 8, 2020] § 246.3 Assessed companies. An assessed company is any company that: (a) Is a top-tier company that, on December 31 of the assessment period: (1) Is a bank holding company, other than a foreign bank holding company, with $100 billion or more in total consolidated assets, as determined based on the average of the bank holding company's total consolidated assets reported for the assessment period on the Federal Reserve's Form FR Y-9C (“FR Y-9C”), (2)(i) Is a savings and loan holding company, other than a foreign savings and loan holding company, with $100 billion or more in total consolidated assets, as determined, except as provided in paragraph (a)(2)(ii) of this section, based on the average of the savings and loan holding company's total consolidated assets as reported for the assessment period on the FR Y-9C or on the Quarterly Savings and Loan Holding Company Report (FR 2320), as applicable. (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. For purposes of this part, the company's total consolidated assets will be the average of the estimated total consolidated assets provided for the assessment period. (b) Is a top-tier foreign bank holding company on December 31 of the assessment period, with $100 billion or more in total consolidated assets, as determined based on the average of the foreign bank holding company's total consolidated assets reported for the assessment period on the Federal Reserve's Form FR Y-7Q (“FR Y-7Q”), provided, however, that if any such company has filed only one FR Y-7Q during the assessment period, the Board shall use an average of the foreign bank holding company's total consolidated assets reported on that FR Y-7Q and on the FR Y-7Q for the corresponding period in the year prior to the assessment period. (c) Is a top-tier foreign savings and loan holding company on December 31 of the assessment period, with $100 billion or more in total consolidated assets, as determined based on the average of the foreign savings and loan holding company's total consolidated assets reported for the assessment period on the reporting forms applicable during the assessment period, provided, however, that if any such company has filed only one reporting form during the assessment period, the Board shall use an average of the foreign savings and loan holding company's total consolidated assets reported on that reporting form and on the reporting form for the corresponding period in the year prior to the assessment period, or (d) Is a nonbank financial company supervised by the Board. [85 FR 78953, Dec. 8, 2020] § 246.4 Assessments. (a) Assessment. (b)(1) 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 § 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 rate. (1)(i) The assessment rate for Category IV and “other” firms will be calculated according to this formula: Assessment rate = [(Net Assessment Basis Category IV and “other” firms' share of total assessable assets of all assessed companies) (1−S)] 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: Assessment rate = [(Net Assessment Basis Category I, II, and III firms' share of total assessable assets of all assessed companies) (Net Assessment Basis Category IV and “other” firms' share of total assessable assets S)] 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 1 etc.; etc. (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 2 etc.; etc. (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 (4) The variable S S (e) Total assessable assets. (1) Bank holding companies. (2) Foreign bank holding companies and foreign savings and loan holding companies In general. (ii) 2012 and 2013 assessment periods. (A) Top-tier, U.S.-domiciled bank holding companies and savings and loan holding companies, calculated as: ( 1 ( 2 (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 ( 2 (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. (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. [78 FR 52492, Aug. 23, 2013, as amended at 85 FR 78954, Dec. 8, 2020] § 246.5 Notice of assessment and appeal. (a) Notice of Assessment. Federal Register. (b) Appeal period. (i) That the company is an assessed company; or (ii) Of the company's total assessable assets. (2) The Board will respond with the results of its consideration to an assessed company that has submitted a written appeal within 15 calendar days from the end of the appeal period in paragraph (b)(1) of this section. § 246.6 Collection of assessments; payment of interest. (a) Collection date. (b) Payment of interest. (2) Interest on delinquent payments will be assessed beginning on the first calendar day after the collection date, and on each calendar day thereafter up to and including the day payment is received. Interest will be simple interest, calculated for each day payment is delinquent by multiplying the daily equivalent of the applicable interest rate by the amount delinquent. The rate of interest will be the United States Treasury Department's current value of funds rate (the “CVFR percentage”); issued under the Treasury Fiscal Requirements Manual and published quarterly in the Federal Register.