Office Of Comptroller Of The Currency

In compliance with 44 u s c 3507 the occ has submitted the following proposed collection of information to omb for review and clearance.

Office of comptroller of the currency. Regulator of national banks issued an interpretive letter that concluded that national banks may hold deposits that serve as reserves for certain stablecoin issuers stablecoin letter. Statement on the passing of the 23rd comptroller of the currency james e. The office of the comptroller of the currency occ today published a letter clarifying national banks and federal savings associations authority to hold reserves on behalf of customers who issue certain stablecoins.

On september 21 2020 the office of the comptroller of the currency the u s. As our dataset only goes as far back as 2004 it is likely that has worked in the federal government prior to 2004. Prior notice period for withdrawals gao found that the final rule codifies the standard withdrawal period of 1 year as interpreted by occ and creates a limited exception that allows a bank with occ approval to withdraw an account from a cif up.

This document is an evaluation of this institution s record of meeting the credit needs of its entire community including low and moderate income neighborhoods. Legislative and regulatory activities division office of the comptroller of the currency 400 7th street sw washington dc 20219. 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 federally licensed branches and agencies of foreign banks in the united states.

Specifically it charters regulates and supervises. Gao reviewed the the department of the treasury office of the comptroller of the currency s occ new rule entitled collective investment funds. The office of the comptroller of the currency occ is a federal agency that oversees the execution of laws relating to national banks.

The stablecoin letter s guidance is another example of the active role the occ has recently. News release sep 23 2020. Office of the comptroller of the currency.