Office of the Comptroller of the Currency
Seal of the Office of the Comptroller of the Currency
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Logo of the Office of the Comptroller of the Currency
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 Flag of the Comptroller of the Currency |
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| Agency overview | |
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| Formed | February 25, 1863 |
| Headquarters | Washington, D.C. |
| Employees | 3848 (as of 2013) |
| Agency executive |
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| Parent agency | Department of the Treasury |
| Website | www |
The Office of the Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury that was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and thrift institutions and the federal branches and agencies of foreign banks in the United States. The Comptroller of the Currency is Thomas J. Curry.
Headquartered in Washington, D.C., it has four district offices located in New York City, Chicago, Dallas and Denver. It has an additional 48 field offices throughout the United States, and a London office to supervise the international activities of national banks. It is an independent bureau of the United States Department of the Treasury and is headed by the Comptroller of the Currency, appointed to a five-year term by the President with the consent of the Senate.
The OCC pursues a number of main objectives:
The OCC participates in interagency activities in order to maintain the integrity of the national banking system. By monitoring capital, asset quality, management, earnings, liquidity, sensitivity to market risk, information technology, consumer compliance, and community reinvestment, the OCC is able to determine whether or not the bank is operating safely and soundly, and meeting all regulatory requirements. The OCC was created by Abraham Lincoln to fund the American Civil War but was later transformed into a regulatory agency to instill confidence in the national banking system and protect consumers from misleading business practices.
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