Large FIs Will Fund Dodd-Frank, Says Treasury Dept.

By  |  January 1, 2012
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December 30, 2011

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    To help finance the implementation of the new Dodd-Frank regulations, the Treasury Department will impose a fee on major banks and financial institutions beginning in July, according to The Hill.

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    While the exact amount per FI has yet to be determined, The Hill reports the Treasury expects the charge to bring in more than $100 million in total annually. The fee will apply to national and foreign banks with more than $50 billion in U.S. assets, as well as other FIs selected by the Treasury.

    The fee will help fund the fledgling Financial Stability Oversight Council (FSOC) group that will monitor the overall stability of U.S. finances.  The Office of Financial Research, the Treasury’s new analytics unit, will also benefit from the new charge.

    Click here for more details from The Hill on the new fee and the government’s timeline for determining the specific rates.


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