Federal Supervisory Agency [Banks & Banking] Law and Legal Definition

Pursuant to 12 USCS § 1881 [Title 12. Banks and Banking; Chapter 19. Security Measures for Banks and Savings Associations], the term Federal supervisory agency means—

“(1) The Comptroller of the Currency with respect to national banks,

(2) The Board of Governors of the Federal Reserve System with respect to Federal Reserve banks and State banks which are members of the Federal Reserve System,

(3) The Federal Deposit Insurance Corporation with respect to State banks which are not members of the Federal Reserve System but the deposits of which are insured by the Federal Deposit Insurance Corporation and State savings associations, and

(4) The Director of the Office of Thrift Supervision with respect to Federal savings [associations].”