What are the three bank regulators?
The regulatory agencies primarily responsible for supervising the internal operations of commercial banks and administering the state and federal banking laws applicable to commercial banks in the United States include the Federal Reserve System, the Office of the Comptroller of the Currency (OCC), the FDIC and the ...
Regulatory Agencies: Federal, State and City.
- Board of Governors of the Federal Reserve System. Federal Reserve Consumer Help. ...
- Federal Deposit Insurance Corporation. Federal Deposit Insurance Corporation. ...
- Office of the Comptroller of the Currency. Comptroller of the Currency. ...
- National Credit Union Administration. ...
- Consumer Financial Protection Bureau.
- The Federal Reserve Board.
- Office of the Comptroller of the Currency.
- Federal Deposit Insurance Corporation.
- Office of Thrift Supervision.
The Bangko Sentral ng Pilipinas (BSP) (or the Philippine Central Bank) is the central monetary authority in charge of regulating money, banking and credit in the Philippines.
The FDIC is the primary federal regulator for state-chartered banks that are not members of the Federal Reserve System. The Office of the Comptroller of the Currency (OCC) is the primary federal regulator for all national banks.
U.S. banking regulation addresses privacy, disclosure, fraud prevention, anti-money laundering, anti-terrorism, anti-usury lending, and the promotion of lending to lower-income populations. Some individual cities also enact their own financial regulation laws (for example, defining what constitutes usurious lending).
Complex U.S. Banking and Regulatory System
And, some types of banking institutions may be regulated by federal and state regulators. At the federal level, there are five financial industry regulators: Comptroller of the Currency (OCC) Federal Deposit Insurance Corporation (FDIC)
The OCC is the primary regulator of banks chartered under the National Bank Act and federal savings associations chartered under the Home Owners' Loan Act.
Bank regulation, or supervision, involves four federal agencies and fifty state agencies.
Who oversees the FDIC?
The Board of Directors of the FDIC manages operations to fulfill the agency's mission. Each member of the five-person Board is appointed by the President and confirmed by the Senate.
Hence, the regulators of banks and financial institutions like the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), and Insurance Regulatory and Development Authority of India (IRDAI), etc. have been created to regulate the framework of the country's financial system.
A central bank also acts as the regulatory authority of a country's monetary policy and is the sole provider and printer of notes and coins in circulation.
The Federal Reserve shares supervisory and regulatory responsibility for domestic banks with the OCC and the FDIC at the federal level, and with individual state banking departments at the state level.
Regulation sets the rules that banks must follow. Many rules are about making sure banks do not take on too much risk and that they manage the risks they do take. Bank examiners monitor banks' compliance with these rules.
In addition to its role as insurer, the FDIC is the primary federal regulator of federally insured state-chartered banks that are not members of the Federal Reserve System. The FDIC carries out its mission through three major programs: insurance, supervision, and receivership management.
The Bank of North Dakota (BND) is a state-owned, state-run financial institution based in Bismarck, North Dakota. It is the only government-owned general-service bank in the United States.
State-chartered banks may ultimately decide to refrain from membership under the Fed because regulation can be less onerous based on state laws and under the Federal Deposit Insurance Corporation (FDIC), which oversees non-member banks. Other examples of non-member banks include the Bank of the West and GMC Bank.
National banks and federal savings associations are regulated by the Office of the Comptroller of the Currency (OCC). To find out if your bank is regulated by the OCC, visit the Who Regulates My Bank? page on this website.
There are two broad classes of regulation that affect banks: safety and soundness regulation and consumer protection regulation. Broadly, regulation consists of the laws, agency regulations, policy guidelines and supervisory interpretations that have been established by lawmakers and policymakers.
Do states regulate banks?
State regulators are responsible for chartering, licensing and supervising state-chartered banks and nonbank financial services providers, including mortgage lenders. You may be surprised to learn that most of the nation's banks are state chartered. In fact, state regulators supervise over 3/4 of the nation's banks.
Board of Governors of the Federal Reserve System
The Board of Governors--located in Washington, D.C.--is the governing body of the Federal Reserve System. It is run by seven members, or "governors," who are nominated by the President of the United States and confirmed in their positions by the U.S. Senate.
The OCC is the primary regulator of banks chartered under the National Bank Act (12 USC 1 et seq.)
Under the Federal Reserve Act of 1913, each of the 12 regional reserve banks of the Federal Reserve System is owned by its member banks, who originally ponied up the capital to keep them running. The number of capital shares they subscribe to is based upon a percentage of each member bank's capital and surplus.
Title 12 of the Code of Federal Regulations contains federal agency regulations that concern banks and banking. Chapter I of that title contains regulations promulgated by the Comptroller of the Currency, Department of the Treasury. Chapter II, regulations governing the Federal Reserve System.
