Bank Supervisory Agency Law and Legal Definition
Bank supervisory agency is any authority or agency that is entrusted with the duty of regulating the proper functioning of banking institutions.
Following is an example of a state statute defining a bank supervisory agency. Alabama state statute [Code of Ala. § 5-13B-41] defines the term Bank Supervisory Agency as follows:
The term "bank supervisory agency" means:
(1) The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and any successor to these agencies;
(2) Any agency of another state with primary responsibility for chartering and supervising banks; and
(3) Any agency of a country, including any colonies, dependencies, possessions, or political subdivisions thereof, other than the United States.
