The Office of the Comptroller of the Currency will split its bank supervision and examination division into three distinct units based on bank size, the agency announced today. The move reverses a decision earlier this year by OCC’s previous leadership to combine its midsize and community bank supervision and its large bank supervision departments into a single entity.
Starting Oct. 1, the OCC will divide the Bank Supervision and Examination group into three units: Large and Global Financial Institutions, Regional and Midsize Financial Institutions, and Community Banks. Each unit will be led by a senior deputy comptroller who will report to Comptroller of the Currency Jonathan Gould.
The Large and Global Financial Institutions will include financial institutions with assets of more than $500 billion and those with a foreign parent. The Regional and Midsize Financial Institutions group will supervise institutions between $30 and $500 billion in asset size. The Community Bank group will supervise institutions with up to $30 billion in assets.
“This realignment is consistent with our historic risk-based supervision approach and my commitment to tailor supervision to bank risk profile,” Gould said. “Over time, I expect these three bank supervision groups to generally align with our tailored regulatory framework. This new structure benefits the institutions we supervise and improves the management of examiner resources and supports examiner development and professional growth.”
The OCC also announced that the Office of the Chief National Bank Examiner will be composed of five divisions that will report to Senior Deputy Comptroller and Chief National Bank Examiner Jay Gallagher. The divisions are deputy comptroller for supervision systems and analytical support; deputy comptroller for credit risk; deputy comptroller for compliance and operational risk; chief economist and deputy comptroller for economics; and chief accountant and deputy comptroller for capital, market risk and asset management. In addition, the Office of Financial Technology will report directly to Gallagher.
