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SECTION IV

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8/1/83 NOTE:

If you are in need of expedited service or you are experiencing
difficulty with obtaining cooperation from local or regional
employees, call Robert E. Serino, Director, Office of the Comptroller
of the Currency at (202) 447-1847.

If you have questions concerning an offshore bank regarding its
legitimacy, call John M. Shockey at (202) 447–1987.

Robert B. Serino, Director (202-447-1847) Enforcement and Compliance Division office of the Comptroller of the currency

The Office of the Comptroller of the Currency

The office of the Comptroller of the Currency (OCC) is a bureau of the United States Treasury Department. The occ's function is the chartering, regulating and supervising of the national banking system.1/

The occ is headquartered in Washington and under its planned reorganization will maintain six district offices throughout the country. Each district office will be directed by a district deputy comptroller and district administrator. The OCC supervises the national banks through on- and off-site premise examinations, and other processes, conducted by a staff of field examiners.2/ Examinations are designed to determine the solvency and liquidity of each bank with the general areas of concern being asset quality, management, earnings, capital, adequacy of policies and procedures, and internal and external controls.

At the conclusion of each field examination, the condition of the bank is discussed with its management and a report is made to the OCC and to the bank's board of directors. If the condition of the bank is unsatisfactory or if the trend of its operations is adverse, the board of directors of the bank will be advised of the OCC's concern and in many cases may be the subject of corrective administrative actions which might include, among other things, removal of directors and officers, cease and desist or civil money penalty actions.3/

4,4604

of the 14,396 commercial banks in the United States,

, are national banks. (They are identified by the words "National" or "National Association" (N.A.) in their titles.) of the commercial banks, 982 are state banks that are members of the Federal Reserve System and are supervised by the Federal Reserve. The Federal Reserve also supervises the 2,300 bank holding companies. Of the commercial banks, 8,948 are state banks that are insured and supervised by the FDIC.

2/ About 140 United States banking organizations were present in more than 110 countries at the end of 1978. Foreign financial operations of United States banks may be examined either through the home office or by actual on-site review, depending on the law and relationship between the United States and the foreign government.

3/ In drastic cases, the power revocation of charter, receivership, termination of FDIC insurance.

also exists for

conservatorship

the or

The OCC also passes upon certain structural changes in the national banking system. These include, among others, the approval of applications to organize new national banks, to establish and operate branches of existing national banks or branches of foreign banks in the United States, to merge or consolidate banks when the resulting bank is a national bank, to relocate national bank offices, and

to effect changes in controlling ownership.

Por contact sources for law enforcement purposes, it is suggested that either district counsel or personnel in the Enforcement and Compliance Division be notified. The Enforcement and Compliance Division is a Division in the Law Department. Its principal functions are to ensure that appropriate administrative proceedings are undertaken when the examining staff of the OCC deems it necessary, and to ensure that appropriate criminal referrals are made to law enforcement authorities where there is evidence of potential violations of law. As part of this effort, attorneys from the Division meet regularly with national banks examiners to attempt to correct problems in banks before they become unmanageable.

In
certain difficult

cases, Division attorneys may conduct investigations or develop specific information concerning matters which may be the subject of a criminal referral or evidence for an administrative matter. Division assimilates information on various fraudulent schemes, both domestic and foreign, which might have an impact on banks, and makes

available to

appropriate law enforcement authorities.

The

To enhance the likelihood of detection of bank fraud and to assist investigators and

prosecutors in understanding the intricacies of bank frauds, the Division is training examiners in the detection, investigation and prosecution of white-collar crime. To the extent consistent with Office priorities, these trained examiners are

available

assist law enforcement authorities in their handling of bank fraud cases.

to

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