The OCC charters, regulates, and supervises national banks and federal savings associations and licenses, regulates, and supervises federal branches and agencies of foreign banking organizations.
As of the OCC’s September 30, 2021, fiscal year end, the federal banking system comprised 1,118 banks operating in the United States. These banks range from small community banks to the largest and most globally active U.S. banks. In total, the banks within the federal banking system held $14.9 trillion of all assets of U.S. commercial banks (65 percent of the total assets held by all U.S. commercial banks).
In addition, the OCC examines services performed on behalf of banks by certain third parties under the authorities conferred by the Bank Service Company Act and Home Owners’ Loan Act. Examination of service providers is conducted in coordination with the Board of Governors of the Federal Reserve System (Federal Reserve) and the Federal Deposit Insurance Corporation (FDIC).
