Office of the Comptroller of the Currency - Definition and Overview

The United States Office of the Comptroller of the Treasury was established in 1863 and serves to charter, regulate and supervise all National banks and the federal branches and agencies of foreign banks. Headquartered in Washington D.C. with four district offices and a London office to supervise the international activities of national banks. It is a bureau of the United States Department of the Treasury and is headed by the United States Comptroller of the Currency. The OCC fulfills four main objectives:

• ensures the safety and soundness of the national banking system.
• fosters competition by allowing banks to offer new products and services.
• Improves the efficiency and effectiveness of OCC supervision especially to reduce the regulatory burden.
• ensure fair and equal access to financial services to all Americans.

External links

• OCC website (http://www.occ.treas.gov)