OCC to divide supervisory functions by bank size

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 last week.

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.