Office of the Comptroller of the Currency

Agency Information

History

  • Created in 1863 by the National Currency Act
  • The Comptroller is appointed by the President, with the advice and consent of the Senate, for a five year term

Functions

  • Charters national banks
  • Approves conversion of state chartered banks to national banks
  • Approves all consolidations and mergers involving national banks
  • Approves the establishment of national bank branches
  • Examines national banks
  • Requires reports of condition from all national banks
  • Admits national banks to Federal Reserve Membership
  • Comptroller is an ex official member of the Board of Directors of FDIC

Regulations and statutes

Agency Documents

Page maintained by David Bachman
Last updated: October 2007