OCC 2004-53  
OCC Bulletin

Subject:      Civil Money Penalty Inflation-adjustment Amendment         
Description:  Final Rule

Date:         November 22, 2004

TO:  Chief Executive Officers of All National Banks, Federal
     Branches and Agencies, Department and Division Heads, and 
     All Examining Personnel

On November 10, 2004, the Office of the Comptroller of the
Currency (OCC) published in the Federal Register the attached
final rule amending its rules of practice and procedure to adjust
the maximum amount of each civil money penalty (CMP) within its
jurisdiction.  The effective date of the adjustments is December
10, 2004.  The adjustments apply only to violations that occur
after that date.

The Inflation Adjustment Act requires the OCC, as well as other
federal agencies with CMP authority, to publish regulations to
adjust each CMP authorized by law that the agency has
jurisdiction to administer.  The purpose of these adjustments is
to maintain the deterrent effect of CMPs and to promote
compliance with the law.  The Inflation Adjustment Act requires
the adjustments to be made at least once every four years
following the initial adjustment.  The OCC's prior adjustment to
each CMP was published in the Federal Register and became
effective on December 11, 2000.  The rule revises the table that
appears at 12 CFR 19.240.  The table identifies the statutes that
provide the OCC with CMP authority, describes the different tiers
of penalties provided in each statute (as applicable), and sets
out the inflation-adjusted maximum penalty that the OCC may
impose pursuant to each statutory provision.

The final rule also makes a technical correction to correct a
numbering error.  The final rule amends subpart O by combining
sections 19.240 and 19.241 into section 19.240 and removes 19.241
from subpart O.  Revised section 19.240 is divided into
paragraphs (a) and (b).  Former section 19.240 becomes paragraph
(a) and former section 19.241 becomes paragraph (b).  Section
19.241 in subpart P is unchanged.

For further information, contact Jean Campbell, senior attorney,
Legislative and Regulatory Activities Division at (202) 874-5090.



_______________________________
Daniel P. Stipano
Acting Chief Counsel


Attachment:  69 FR 65067
          [http://www.occ.treas.gov/fr/fedregister/69fr65067.pdf