T
he Office of the Comptroller of theCurrency (OCC) was established in1863 as a bureau of the Departmentof the Treasury. The OCC is headed by theComptroller, who is appointed by the President, with the advice and consent of the Senate, for afive-year term. The OCC charters, regulates,and supervises approximately 2,600 nationalbanks and 66 federal branches and agencies of foreign banks in the United States, accountingfor 58 percent of the nation’s banking assets.Its mission is to ensure a safe, sound, andcompetitive national banking system thatsupports the citizens, communities, andeconomy of the United States.
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