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About the Office of the Comptroller of the Currency (OCC)

The map below shows the OCC's nationwide office locations.

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The Office of the Comptroller of the Currency (OCC) ensures that the federal banking system operates in a safe and sound manner, provides fair access to financial services, treats customers fairly, and complies with applicable laws and regulations.

The OCC charters, regulates, and supervises national banks and federal savings associations (FSA), and licenses and supervises federal branches and agencies of foreign banks. The agency also supervises certain third parties that provide services to banks.1 The OCC oversees the organization and structure of the federal banking system, maintaining a framework that encourages regulated entities to responsibly innovate and adapt to meet the existing and evolving financial needs of consumers, businesses, and communities nationwide. The agency issues and implements regulations and, when warranted, takes appropriate enforcement actions.

President Abraham Lincoln signed the National Currency Act on February 25, 1863, creating the OCC and the federal banking system. In June 1864, the law was substantially revised, and, in 1874, it was renamed the National Bank Act. The law remains the authority under which the OCC and national banks operate today. The Home Owners’ Loan Act of 1933 provides the basis for the operation and regulation of FSAs.

Headquartered in Washington, D.C., the OCC has offices in 61 cities nationwide, with 141 supervisory operating locations and four district offices. The OCC also has an office in London that supervises the international activities of national banks.

The President, with the advice and consent of the U.S. Senate, appoints the Comptroller of the Currency to head the agency for a five-year term. The Comptroller serves as a director of the Federal Deposit Insurance Corporation (FDIC) and is a member of the Financial Stability Oversight Council and the Federal Financial Institutions Examination Council (FFIEC).

In supervising
banks, the OCC
is authorized to

Examine banks.

Approve, conditionally approve, or deny applications for new charters, branches, or other changes in corporate or banking structures.

License federal branches and agencies of foreign banks.

Take supervisory and enforcement actions against banks that do not comply with laws and regulations or that otherwise engage in unsafe or unsound practices.

Issue rules and regulations, legal interpretations, guidance, and corporate decisions governing investments, lending, and other practices by banks.

five colored rings connecting to each priority

Mission

To 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.

Vision

The OCC is a preeminent prudential supervisor that

  • adds value through proactive and risk-based supervision.
  • is sought after as a source of knowledge and expertise.
  • promotes a vibrant and diverse banking system that benefits consumers, communities, businesses, and the U.S. economy.

Core Values


  • Integrity
  • Expertise
  • Collaboration
  • Independence

About this Report

The fiscal year (FY) 2017 Annual Report provides Congress with an overview of the condition of the federal banking system and suggestions for “any amendment to the laws relative to banking” as required by section 61 of the National Bank Act. The annual report discusses milestones and initiatives related to the OCC’s strategic priorities and details agency regulatory and policy initiatives. Additionally, the report discusses the agency’s financial management and condition, including its audited financial statements.


1 This report refers to all entities under OCC supervision collectively as “banks,” unless it is necessary to distinguish among them.