Office of Thrift Supervision
- Office of Thrift Supervision
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Office of Thrift Supervision (OTS)
USA
An independent office of the US Department of the Treasury, the OTS charters, regulates and supervises thrifts and their holding companies. The OTS was established on August 9, 1989 as part of the Financial Institutions Reform, Recovery and Enforcement Act of 1989. In the wake of the financial crisis, the OTS was criticized for inadequate supervision and failing to take corrective action that may have prevented certain bank failures (for example, IndyMac Bank, FSB). Under the Dodd-Frank Act, the OTS will be eliminated and its regulatory authority transferred to the Federal Reserve Board (FRB), Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC). This transfer is to be completed by July 21, 2011, although the Treasury Secretary may extend the transfer date for up to an additional six months after consulting with other banking authorities. The OTS will be dissolved 90 days after its functions and powers have been transferred to the FRB, FDIC and the OCC.
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
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Office of Thrift Supervision — Agency overview Formed August 9, 1989 Preceding agency Federal Home Loan Bank Board Dissolved … Wikipedia
Office of Thrift Supervision — ( OTS) The OTS regulates federally insured savings and loan institutions. One of the provisions of the Financial Institutions Reform, Recovery, and Enforcement Act ( FIRREA) established the OTS to replace the Federal Home Loan Bank Board as the… … Financial and business terms
Office of Thrift Supervision — An office in the Treasury Department charged with providing for the examination, safe and sound operation, and regulation of savings associations … Black's law dictionary
Office Of Thrift Supervision - OTS — The bureau of the U.S. Treasury Department that is responsible for issuing and enforcing regulations governing the nation s savings and loan industry. This bureau is responsible for ensuring the safety and soundness of deposits in thrift banks.… … Investment dictionary
Office of Thrift Supervision — OTS An agency of the US Treasury, founded in 1989, that supervises the country s savings and loan associations … Big dictionary of business and management
Office of Thrift Supervision — /ˌɒfɪs əv θrɪft su:pəˌvɪʒ(ə)n/ noun a US government department which regulates the Savings and Loan Associations … Dictionary of banking and finance
Office of the Comptroller of the Currency — Agency … Wikipedia
thrift — n: an institution that promotes saving and provides mortgages; esp: savings and loan association – called also thrift institution; Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
office — of‧fice [ˈɒfs ǁ ˈɒː , ˈɑː ] noun 1. [countable] a room or building where people work at desks: • The agency recently closed its Houston office. • I d like to see you in my office. • I applied for the job of office manager. • There is a shortage… … Financial and business terms
Thrift Bulletin 13 — ( TB 13) A rule published by the Office of Thrift Supervision ( OTS) entitled Responsibilities of the Board of Directors and Management with Regard to Interest Rate Risk. This rule governs the measurement and management of interest rate risk at… … Financial and business terms
