About UsThe OCC charters, regulates, and supervises all national banks and federal savings associations as well as federal branches and agencies of foreign banks. The OCC is an independent bureau of the U.S. Department of the Treasury. Show
About UsThe OCC charters, regulates, and supervises all national banks and federal savings associations as well as federal branches and agencies of foreign banks. The OCC is an independent bureau of the U.S. Department of the Treasury. About UsThe OCC charters, regulates, and supervises all national banks and federal savings associations as well as federal branches and agencies of foreign banks. The OCC is an independent bureau of the U.S. Department of the Treasury. Our MissionTo ensure that national banks and federal savings associations operate in a safe and sound manner, provide fair access to financial services, treat customers fairly, and comply with applicable laws and regulations. Our VisionThe OCC is the preeminent prudential supervisor that
Our Core ValuesThe OCC adheres to four key tenets in carrying out its mission and vision:
Who We AreOur LeadershipThe people who lead the OCC are experienced professionals with diverse backgrounds in disciplines necessary to advance the agency's mission and vision. They are experts in bank examination, law, risk management, economics, finance and accounting, organizational management and governance, human resources, communications, and technology. They collaborate to help ensure the safety and soundness of our federal banking system and to help make the OCC one of the best places to work in the federal government. What We DoThe OCC, an independent branch of the U.S. Department of the Treasury, charters, regulates, and supervises all national banks and federal savings associations as well as federal branches and agencies of foreign banks. The OCC carries out its mission by
OCC at a Glance1,093Banks SupervisedThe OCC supervises national banks, federal savings associations, and federal branches and associations of foreign banks. $15.2TValue of Bank AssetsThese assets, held by OCC-regulated institutions, compose 64 percent of all U.S. commercial banking assets. 2,264OCC ExaminersOCC examiners are located across 89 operating locations. $1.154BFY 2022 BudgetThe OCC's operating and capital budget is funded primarily by assessments, fees paid by banks, interest received on investments, and other income. Our HistoryFounding of the OCC and the National Banking SystemPresident Abraham Lincoln recognized that the United States' fragmented banking and monetary system needed tighter structure and order. On February 25, 1863, President Lincoln signed the National Currency Act into law, creating the Office of the Comptroller of the Currency and charging it with responsibility for organizing and administering a system of nationally chartered banks and a uniform national currency. Hugh McCulloch: The OCC's First ComptrollerPresident of the Bank of Indiana, Hugh McCulloch had come to Washington to fight against the national banking legislation that had been signed by President Lincoln in February 1863. Ironically, he ultimately became its champion and proved to be an industrious, able administrator as the first Comptroller of the Currency. He went on to serve two terms as Secretary of the Treasury. President Lincoln with Treasury Secretary Salmon P. Chase Which group does the Fed serve financial institutions consumers government bodies of bankers?The Federal Reserve Banks provide financial services to depository institutions including banks and credit unions, much like those that banks provide for their customers.
What are the three parts of the Fed?There are three key entities in the Federal Reserve System: the Board of Governors, the Federal Reserve Banks (Reserve Banks), and the Federal Open Market Committee (FOMC).
Is the Fed a government agency?The Federal Reserve, like many other central banks, is an independent government agency but also one that is ultimately accountable to the public and the Congress.
How does the Federal Reserve System serve the public?Supervising and Regulating Financial Institutions and Activities. The Federal Reserve promotes the safety and soundness of individual financial institutions and monitors their impact on the financial system as a whole.
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