Seeking Alpha

New approach to regulation at OCC

  • The agency will have fewer of its people stationed in the offices of the largest U.S. banks, instead bringing the workers back to OCC offices where they can develop a broader perspective on what may be happening in the financial system.
  • The move comes after Comptroller Thomas Curry - who took the reins in 2012 - brought in external consultants to review  the OCC's examination program which failed to sniff out much in the way of systemic risk ahead of the financial crisis.
  • This action stands in contrast to that of regulators like the FRBNY (which also whiffed on the financial crisis), which is boosting its on-site presence at banks.
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Comments (1)
  • 153972
    , contributor
    Comments (871) | Send Message
     
    So the cop on the street is returning to the precinct to better understand what is happening in the city.
    28 May 2014, 03:34 PM Reply Like
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