Department of the Treasury

Office of the Comptroller of the 

Currency

Congressional Budget

Justification and Annual 

Performance Plan and Report

FY 2024
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Table of Contents

Section I – Budget Request........................................................................................................... 3

A – Mission Statement................................................................................................................ 3

B – Summary of the Request ...................................................................................................... 3

1.1 – Resource Detail Table ................................................................................................... 5

1.3 – Object Classification (Schedule O) Obligations................................................................ 6

D – Appropriations Language and Explanation of Changes ...................................................... 6

E – Legislative Proposals............................................................................................................ 6

Section II – Annual Performance Plan and Report................................................................... 7

A – Strategic Alignment ............................................................................................................. 7

B – Budget and Performance by Budget Activity ...................................................................... 8

2.1.1 – Supervise Resources and Measures................................................................................ 8

Supervise Budget and Performance ............................................................................................ 8

2.1.2 – Regulate Resources and Measures................................................................................ 10

Regulate Budget and Performance............................................................................................ 10

2.1.3 Charter Resources and Measures..................................................................................... 11

Charter Budget and Performance.............................................................................................. 12

Section III – Additional Information ........................................................................................ 12

A – Summary of Capital Investments....................................................................................... 12
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Section I – Budget Request

A – Mission Statement

To ensure that national banks and federal savings associations operate in a safe and sound 

manner, provide fair access to financial services, treat customers fairly, and comply with 

applicable laws and regulations. 

B – Summary of the Request

The Office of the Comptroller of the Currency (OCC) was created by Congress in 1863 to charter 

national banks; oversee a nationwide system of banking institutions; and ensure national banks 

are safe and sound, competitive and profitable, and capable of serving in the best possible manner 

the banking needs of their customers. Effective on July 21, 2011, Title III of the Dodd-Frank Wall 

Street Reform and Consumer Protection Act (Dodd-Frank Act), transferred to the OCC the 

responsibility for the supervision of federal savings associations and rulemaking authority for all 

federal savings associations. 

As of September 30, 2022, the OCC supervised 778 national bank charters, 49 federal branches 

and agencies, and 257 federal savings associations. In total, the OCC supervises approximately 

$15.9 trillion in financial institution assets. 

Goals: 

The OCC has established three strategic goals to affirm its mission: 1) The OCC’s culture, talent 

management, tools, and practices provide an environment for agility and continuous learning; 2) 

The OCC earns and consistently safeguards the public’s trust by being highly credible to a wide 

range of stakeholders; 3) Peer agencies and international bodies view the OCC as a leader on both 

traditional and emerging bank supervision issues. To achieve its strategic goals and objectives, the 

OCC organizes its programs under three activities: 1) Supervise; 2) Regulate; and 3) Charter. 

Effective supervision and a comprehensive regulatory framework are the key tools that the OCC 

uses to ensure that national banks and federal savings associations operate in a safe and sound 

manner and that they provide fair access to financial services and fair treatment of their 

customers. A robust chartering program allows new entrants into the financial services sector 

while ensuring that they have the necessary capital, managerial, and risk management processes 

to conduct activities in a safe and sound manner. 

The OCC receives no appropriated funds from Congress for any portion of its operations. 

Operations are funded primarily (approximately 97 percent) from semiannual assessments levied 

on national banks and federal savings associations. Revenue from investments in Treasury 

securities and other income comprise the remaining (approximately) roughly three percent of the 

OCC’s funding. 

FY 2022 and 2023 Priorities

The mission of the OCC is to ensure that national banks and federal savings associations operate 

in a safe and sound manner, provide fair access to financial services, treat customers fairly and 

comply with applicable laws and regulations. To meet this mission, the OCC has four priorities: 
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1) guarding against complacency by banks; 2) reducing inequality in banking; 3) adapting to 

digitalization; and 4) managing climate-related financial risks. 

The national banking system remains healthy, despite challenges from the pandemic, current 

geopolitical events, and an uncertain economic environment. Bank financial conditions and 

capital levels have been sound for several years and bank liquidity levels have been strong, 

supporting increases in loan demand, especially in consumer lending. Prudent risk management 

practices and a positive economic environment have kept loan portfolios resilient to date. In this 

environment, proactive risk management, including stress testing at large banks and preparedness 

for a slowing economy, can help ensure that banks remain strong and are able to meet the credit 

needs of their customers through a range of scenarios. Banks that remain vigilant and guard 

against complacency in these and other areas will promote a safe, sound, and fair banking system 

that continues to support the individuals, communities, and businesses they serve.

Persistent inequality in access to financial services can erode trust in the banking system. 

Americans who lack access to traditional financial products and services or feel exploited by 

banks may conclude that the system is working against them, rather than for them. The OCC is 

focused on several initiatives to address this problem. The OCC, FRB, and FDIC are working 

together to modernize and strengthen the Community Reinvestment Act (CRA) regulations. The 

interagency notice of proposed rulemaking builds on the history of the CRA as critical to 

motivating bank lending and investment to help meet the credit needs of low- and moderateincome individuals, families, and communities. Where the OCC finds evidence of potential 

discrimination, those matters are referred to the Department of Justice and the Department of 

Housing and Urban Development, as applicable. Redlining and other forms of lending 

discrimination are unacceptable, and the OCC will not hesitate to take enforcement actions if 

necessary.

Increasingly, retail banking is being conducted online and through mobile phones. Similar to 

other industries, financial services that were integrated and contained within the banking industry 

are beingoffered by a greater number of entities, including technology firms. Digitalization has 

put a premium on online and mobile engagement, customer acquisition, customization, big data, 

fraud detection, artificial intelligence, machine learning, and cloud management. As a result, the 

number of bank-financial technology firm partnerships has grown significantly, and these 

arrangements have become more complicated, driving changes to banks’ risk profiles. The OCC 

has adjusted its bank information technology (BIT) examinations in response to these 

technological innovations. These examinations include assessments of governance, risk 

management, and information security. 

In addition, the OCC has adopted a “careful and cautious” approach to crypto1 in the national

banking system. This is reflected in the January 2023 Joint Statement on Crypto-Assets to 

Banking Organizations, which highlights key risks for banking organizations associated with 

crypto-assets and the crypto-asset sector and describes the OCC, Federal Deposit Insurance 

Corporation, and Board of Governors of the Federal Reserve System’s approaches to supervision 

in this area. I. Despite contagion across cryptocurrencies and several crypto platforms, the 

federal banking system, , has for the most part been largely unaffected.

1 By “crypto,” the OCC refers generally to any digital asset implemented using cryptographic techniques.
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The OCC’s focus on climate-related financial risk is firmly rooted in its mandate to ensure that 

national banks operate in a safe and sound manner. Climate-related financial risks pose novel 

challenges to traditional risk management. The OCC has taken several steps to build expertise 

and capacity to meet those challenges. The OCC joined the Network for the Greening of the 

Financial System and established a Climate Risk Officer position at the agency to focus on these 

issues. In December 2021, the OCC issued for comment Principles for Climate-Related Financial 

Risk Management for Large Banks. The draft principles focus on the climate-related risk 

management capabilities of large banks, those with at least $100 billion in consolidated assets. 

The focus on large banks is intentional, as that is where the risks are most complex and material. 

The OCC is continuing to consider the comments and working with its interagency colleagues to 

determine the next steps in this area. Additionally, the OCC is committed to continued dialogue 

and constructive engagement with all stakeholders, including community bankers, as it builds its 

climate risk management expertise.

The OCC is committed to ensuring that OCC-supervised banks operate in a safe, sound, and fair 

manner, meet the credit needs of their communities, treat all customers fairly, and comply with 

laws and regulations. As the OCC works to ensure that the national banking system remains a 

source of strength to the U.S. economy, it will continue to advance key agency priorities to ensure 

the national banking system is well positioned to respond to community and consumer needs well 

into the future. 

1.1 – Resource Detail Table

Dollars in Thousands

 FY 2022 FY 2023 FY 2024 FY 2023 to FY 2024

Budgetary Resources Actual Revised Estimate Estimate % Change

Revenue/Offsetting Collections FTE AMOUNT FTE AMOUNT FTE AMOUNT FTE AMOUNT

Assessments 0 $1,180,839 0 1,137,122 0 1,137,122 NA 0.0%

Interest 0 $25,639 0 32,961 0 32,961 NA 0.0%

Other Income 0 $18,102 0 19,348 0 19,348 NA 0.0%

 Unobligated Balances from Prior 

Years 0 $1,737,973 0 1,833,871 0 $1,767,858 NA -3.6%

Total Revenue/Offsetting 

Collections 0 $2,962,553 0 $3,023,302 0 $2,957,290 NA -2.2%

Obligations

Supervise 3,061 $991,454 3,126 $1,103,849 3,126 $1,115,704 0.0% 1.1%

Regulate 345 $111,661 352 $124,320 352 $125,655 0.0% 1.1%

Charter 75 $24,497 77 $27,274 77 $27,567 0.0% 1.1%

Total Expenses/Obligations 3,481 $1,127,612 3,555 $1,255,443 3,555 $1,268,926 0.0% 1.1%

3,481 1,834,941 3,555 $1,767,859 3,555 $1,688,364 0.0% -4.5%

• The Comptroller may impose and collect assessments, fees, or other charges as necessary or appropriate to carry out his 

responsibilities and to meet the expenses of the OCC. 12 U.S.C. 482. As of September 30, 2022, the net position of the OCC 

was $1,776 million. 

• The Comptroller has sole authority to determine how OCC funds are obligated and its expenses incurred and paid. 12 U.S.C. 16.

• OCC funds are not appropriated funds or government monies. 12 U.S.C. 481.
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1.3 – Object Classification (Schedule O) Obligations

Dollars in Thousands

FY 2022 FY 2023 FY 2024

Object Classification

Actual

Obligations

Revised Estimated 

Obligations

Estimated 

Obligations

11.1 - Full-time permanent 564,115 604,916 613,990

11.3 - Other than full-time permanent 4,345 3,534 3,587

11.5 - Other personnel compensation 4,092 3,289 3,338

11.9 - Personnel Compensation (Total) 572,552 611,739 620,915 

12.0 - Personnel benefits 230,467 287,099 291,405

13.0 - Benefits for former personnel 214 210 210

Total Personnel and Compensation Benefits $803,233 $899,047 $912,530 

21.0 - Travel and transportation of persons 11,910 24,673 24,673

22.0 - Transportation of things 1,936 1,800 1,800

23.1 - Rental payments to GSA 92 108 108

23.2 - Rental payments to others 66,079 59,814 59,814

23.3 - Communications, utilities, and miscellaneous charges 19,067 17,348 17,348

24.0 - Printing and reproduction 593 757 757

25.1 - Advisory and assistance services 30,340 33,379 33,379

25.2 - Other services from non-Federal sources 45,596 40,159 40,159

25.3 - Other goods and services from Federal sources 8,446 8,610 8,610

25.4 - Operation and maintenance of facilities 5,708 6,899 6,899

25.7 - Operation and maintenance of equipment 72,629 101,301 101,301

26.0 - Supplies and materials 5,660 7,822 7,822

31.0 - Equipment 31,922 35,217 35,217

31.0 - Land and structures 6,874 17,500 17,500

33.0 - Investments and loans 15,083 0 0

42.0 - Insurance claims and indemnities 1,479 1,009 1,009

44.0 - Refunds 965 0 0

Total Non-Personnel $324,379 $356,396 $356,396

Total Obligations $1,127,612 $1,255,443 $1,268,926 

Full-time Equivalents (FTE)

 

3,481 3,555 3,555 

 

D – Appropriations Language and Explanation of Changes

The OCC receives no appropriated funds from Congress. 

E – Legislative Proposals 

The OCC has no legislative proposals. 
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Section II – Annual Performance Plan and Report

A – Strategic Alignment

The OCC is aligned with the budget activities and performance measures to the objectives in the 

Treasury FY 2022 – 2026 Strategic Plan and the recently published OCC FY 2023 – 2027 

Strategic Plan. OCC supports the following Department of the Treasury FY 2022 – 2026 strategic 

goals and objectives: 

• Goal 3: Protect Financial Stability and Resiliency 

o Strategic Objective 3.1: Financial System Vulnerabilities 

• Goal 4: Combat Climate Change 

o Strategic Objective 4.2: Climate Incentives and Investment 

o Strategic Objective 4.3: Climate-Related Financial Risks 

The OCC’s nationwide staff of bank examiners conducts on-site and off-site reviews of banks and 

provides sustained supervision of these institutions’ operations. Examiners have used enhanced 

off-site tools and processes during the pandemic to support their supervision responsibilities. 

Examiners analyze asset quality, capital adequacy, earnings, liquidity, and sensitivity to market 

risk for all banks, and assess compliance with federal consumer protection laws and regulations. 

Examiners also evaluate management’s ability to identify and control risk and assess banks’ 

performance in meeting the credit needs of the communities in which they operate, pursuant to 

the Community Reinvestment Act (CRA). 

In addition, under the bank supervision program, the OCC will: 

• Approve or deny applications for new charters, branches, capital, or other changes in 

corporate or banking structure; 

• Take supervisory and enforcement actions against banks that do not comply with laws and 

regulations or that otherwise engage in unsafe or unsound practices; 

• Remove and prohibit officers and directors, negotiate agreements—both formal (i.e., public) 

and informal (i.e., non-public)—to change banking practices, and issue cease-and-desist 

orders as well as Civil Money Penalties (CMPs); and

• Issue rules and regulations, legal interpretations, supervisory guidance, and corporate 

decisions governing investments, lending, and other practices. 
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B – Budget and Performance by Budget Activity

2.1.1 – Supervise Resources and Measures

Dollars in Thousands

 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024

 Resource Level Actual Actual Actual Actual Actual Revised 

Estimate Estimate

Expenses/Obligations $1,105,022 $939,193 $953,433 $978,890 $991,454 $1,103,849 $1,115,704 

Budget Activity Total $1,105,022 $939,193 $953,433 $978,890 $991,454 $1,103,849 $1,115,704 

Full-time Equivalents (FTE) 3,434 3,289 3,202 3,073 3,061 3,126 3,126

Performance Measure

FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2022 FY 2023 FY 2024

Actual Actual Actual Actual Actual Target Target Target

Percentage of National Banks and 

Federal Savings Associations with 

Composite CAMELS Rating 1 or 2

96 96 96 96 96 90 90 90

Percentage of National Banks and 

Federal Savings Associations That Are 

Categorized as Well Capitalized 

95 98 95 99 99 95 95 95

Percentage of National Banks and 

Federal Savings Associations with 

Consumer Compliance Rating of 1 or 2

98 98 98 98 98 94 94 94

Total OCC Costs Relative to Every 

$100,000 in Bank and Federal Savings 

Associations Assets Regulated ($)

9.12 8.07 7.78 6.79 6.78 7.37 7.21 7.21

Supervise Budget and Performance 

($1,115,704 from revenue/offsetting collections): 

An effective supervision program is the cornerstone of the OCC’s activities that support its 

strategic goals. Specifically, the Supervise Program consists of ongoing supervision and 

enforcement activities that directly support the OCC’s strategic goal to foster a safe, sound, and 

fair system of national banks, federal savings associations and federal branches of foreign banks 

and agencies of foreign banks that is a source of economic strength and opportunity that meets the 

evolving needs of consumers, businesses, and communities. The condition and risk management 

practices of national banks and federal savings associations, and requiring corrective actions when 

weaknesses are found, directly supports Treasury’s goal to promote financial stability. In FY 

2022, the OCC took several enforcement actions to address violations of the Bank Secrecy Act 

and Anti-Money Laundering requirements based on authority delegated by Treasury’s Financial 

Crimes Enforcement Network, and/or failure to maintain effective risk management programs for 

enterprise-wide risk management, compliance risk management, internal controls, or IT risk 

governance that are commensurate with the bank’s size, complexity, and risk profile. 

Description of Performance: 

Percentage of National Banks and Federal Savings Associations with Composite CAMELS Rating 

of 1 or 2: 

The composite Capital Adequacy, Asset Quality, Management, Earnings, Liquidity, and 

Sensitivity (CAMELS) rating reflects the overall condition of a national bank or federal savings 

association. Bank regulatory agencies use the Uniform Financial Institutions Rating System, 

CAMELS, to provide a general framework for evaluating all significant financial, operational, 

and compliance factors inherent in a national bank or federal savings association. The rating scale 

is 1 through 5 of which 1 is the highest rating granted and represents the lowest supervisory risk. 
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These CAMELS ratings are assigned at the completion of every supervisory cycle or when there 

is a significant event leading to a change in CAMELS. 

The OCC established a target outcome measure that 90 percent of the institutions under its 

supervision have a composite CAMELS rating of 1 or 2. Such a rating is consistent with the 

strategic goal of a safe and sound banking system, that banks maintain adequate capital and 

liquidity and have strong risk management practices. As of September 30, 2022, 96 percent of 

national banks and federal savings associations earned composite CAMELS ratings of either 1 or 

2. Degradation in CAMELS can reflect weaknesses in risk management systems that need 

corrective action. The OCC, consistent with Treasury’s goals of boosting U.S. economic growth 

and promoting financial stability, has instructed bank examiners to identify and seek corrective 

action at the earliest stage to address potential problems or weaknesses. The OCC’s primary 

focus is to ensure that CAMELS ratings are an accurate reflection of each institution's current 

financial position and risk controls, and thus the OCC would not prematurely restore a favorable 

CAMELS rating.

Percentage of National Banks and Federal Savings Associations that are Considered WellCapitalized:

The Federal Deposit Insurance Act established a system that classifies insured depository 

institutions into five categories (well capitalized, adequately capitalized, undercapitalized, 

significantly undercapitalized, and critically undercapitalized) based on their capital levels 

relative to their risks. The OCC established a target outcome measure that 95 percent of national 

banks and federal savings associations will meet or exceed the well-capitalized threshold. 

The OCC works closely with problem national banks and federal savings associations to develop 

rehabilitation plans. Such plans typically include directives to improve or restore capital levels. 

These efforts, combined with a more stable operating environment, have resulted in improvement 

in this performance measure since FY 2009. As of September 30, 2022, 99 percent of national 

banks and federal savings associations were classified as well capitalized.

Percentage of National Banks and Federal Savings Associations with Consumer Compliance 

Rating of 1 or 2:

To ensure fair access to financial services and fair treatment of national bank and federal savings 

association customers, the OCC evaluates an institution’s compliance with consumer laws and 

regulations. Federal bank regulatory agencies use the Uniform Interagency Consumer 

Compliance Rating, to provide a general framework for evaluating significant consumer 

compliance factors inherent in an institution. Each institution is assigned a consumer compliance 

rating based on an evaluation of its present compliance with consumer protection and civil rights 

statutes and regulations, and the adequacy of its operating systems designed to ensure continuing 

compliance. Ratings are on a scale of 1 through 5 of which 1 is the highest rating granted and 

represents the lowest risk for noncompliance. 

The target for FY 2024 remains unchanged at 94 percent. As of September 30, 2022, national 

banks and federal savings associations continue to show strong compliance with consumer 

protection regulations with 98 percent earning a consumer compliance rating of either 1 or 2. 

Under the Dodd-Frank Act, the OCC has enforcement and supervisory authority for those 

institutions with total assets of no more than $10 billion. At larger institutions, the Consumer 
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Financial Protection Bureau (CFPB) has primary supervisory authority. CFPB is the primary 

regulator for these issues and at OCC-supervised institutions of no more than $10 billion, OCC 

enforces CFPB regulations. 

Total OCC Costs Relative to Every $100,000 in National Bank and Federal Savings Association 

Assets Regulated: 

The OCC measures the efficiency of its operations while meeting the increasing supervisory 

demands of a growing and more complex national banking system. 

The OCC costs are those reported as total program operating costs that include obligations 

incurred in each fiscal year. National bank and federal savings association assets are those 

reported quarterly by national banks and federal savings associations on the Reports of Condition 

and Income. Total national bank and federal savings association assets represent the growth and 

complexity of the financial institutions under the jurisdiction of the OCC. This measure supports 

the OCC’s strategic goal of efficient use of agency resources. The OCC’s ability to control its 

costs while ensuring the safety and soundness of national banks and federal savings associations 

benefits all national bank and federal savings association customers. As of September 30, 2022, 

total OCC cost relative to every $100,000 in assets regulated was $6.78 compared to the FY 2022 

target of $7.37. The OCC continues to meet its efforts to ensure that resources are used prudently 

and that programs are carried out in a cost-effective manner ensuring that the OCC operates as 

efficiently and effectively as possible. In December 2022, the OCC passed along savings from 

cost-efficiencies by changing the general 2023 assessment fee schedule to include reductions by 

40 percent for all banks on their first $200 million in total balance-sheet assets, and a reduction by 

20 percent for all banks on balance-sheet assets above $200 million and up to $20 billion. 

2.1.2 – Regulate Resources and Measures

Dollars in Thousands

 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024

 Resource Level Actual Actual Actual Actual Actual Revised 

Estimate Estimate

Expenses/Obligations $106,649 $93,323 $94,738 $105,202 $111,661 $124,320 $125,655 

Budget Activity Total $106,649 $93,323 $94,738 $105,202 $111,661 $124,320 $125,655 

Full-time Equivalents (FTE) 331 327 318 330 345 352 352

Regulate Budget and Performance

($125,655 from revenue/offsetting collections): 

The Regulate Program supports the OCC’s strategic goal of a vibrant and diverse system of 

national banks and federal savings associations that supports a robust U.S. economy. 

Specifically, the Regulate Program consists of ongoing activities that result in the establishment 

of regulations, policies, operating guidance, and interpretations of general applicability to national 

banks and federal savings associations. These regulations, policies, and interpretations may 

establish system-wide standards, define acceptable national banking and federal savings 

association practices, provide guidance on risks and responsibilities facing national banks and 

federal savings associations, or prohibit (or restrict) national banking or federal savings 

association practices deemed to be imprudent or unsafe. They also establish standards for 

ensuring fair access to financial services and fair treatment of national bank and federal savings 

association customers. This program includes establishing examination policies and handbooks; 
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interpreting administrative, judicial, and congressional proceedings; and establishing the 

applicable legal and supervisory framework for new financial services and products. OCC works 

closely with Federal financial regulators on major rulemakings to ensure quality and consistency. 

Description of Performance: 

The OCC has recently undertaken actions to reduce regulatory burden on and expand economic 

opportunity, including in response to the pandemic. The OCC took an important step towards 

strengthening and modernizing the Community Reinvestment Act (CRA) regulations by issuing a 

final rule to rescind its June 2020 CRA rule and joining the other federal banking agencies in 

issuing an interagency notice of proposed rulemaking to develop consistent framework across all 

banks that will encourage higher levels of responsible lending, investments, services, and greater 

community engagement, particularly focused on helping to meet the needs of low- and moderateincome and other underserved communities across the nation, including communities that have 

been disproportionately affected by the pandemic. 

In late 2021, the OCC issued draft principles designed to support the identification and 

management of climate-related financial risks by large OCC-supervised institutions. The draft 

principles support banks’ efforts to focus on key aspects of climate-related financial risk 

management and outline the OCC’s initial supervisory expectations for climate-related financial 

risk management within existing OCC rules and guidance. The OCC continues to consider the 

comments received on the draft principles and is working with our interagency colleagues to 

determine next steps. 

The OCC is approaching crypto-related activities in the federal banking system with a high 

degree of caution and expects its supervised institutions to do the same. In late 2021 and early 

2022, to keep up with the rapid developments in crypto assets, the OCC participated with the 

other Federal banking agencies in an interagency “policy sprint” on crypto-assets. The OCC 

continues to work with other federal and state agencies to research and assess certain crypto-asset 

activities. 

2.1.3 Charter Resources and Measures

Dollars in Thousands

 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024

 Resource Level Actual Actual Actual Actual Actual Revised 

Estimate Estimate

Expenses/Obligations $24,033 $20,212 $20,519 $27,887 $24,497 $27,274 $27,567 

Budget Activity Total $24,033 $20,212 $20,519 $27,887 $24,497 $27,274 $27,567 

Full-time Equivalents (FTE) 75 71 69 88 75 77 77

Performance Measure FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2022 FY 2023 FY 2024

Actual Actual Actual Actual Actual Target Target Target

Percentage of Licensing 

Applications and Notices 

Completed within 

Established Timeframes

97 99 98 98 98 95 95 95
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Charter Budget and Performance

($27,567 from revenue/offsetting collections): 

The Charter Program consists of ongoing activities that result in the chartering of national banks 

and federal savings associations and the evaluation of the permissibility of structures and 

activities of national banks and federal savings associations and their subsidiaries. This includes 

the review and approval of new national bank and federal savings association charters, federal 

branches and agencies, mergers, acquisitions, conversions, business combinations, corporate 

reorganizations, changes in control, operating subsidiaries, branches, relocations, and 

subordinated debt issuances. By supporting the entry of new products and institutions into the 

financial system with a national charter in a manner consistent with safety and soundness, the 

Charter Program supports the OCC’s strategic goals of assuring safety and soundness while 

allowing national banks and federal savings associations to offer a full competitive array of 

financial services. 

In 2019, 2020, and 2021, the OCC passed savings from operating efficiencies to banks by 

lowering assessments by more than 23 percent over the course of those three years. In 2023, the 

OCC will continue to be proactive in closing price differential between state and federal charter 

assessments with reduction in assessments for banks. The recalibration will result in a $41.3 

million reduction in assessments for community banks, $11.1 million reduction in assessments for 

midsize banks and $18.8 million in assessments for large banks. 

Description of Performance: 

Percentage of Licensing Applications and Notices Completed within Established Time Frames: 

The OCC’s timely and effective approval of corporate applications contributes to the nation’s 

economy by enabling national banks and federal savings associations to complete various 

corporate transactions and introduce new financial products and services. Delays in providing 

prompt decisions on applications and notices can deprive a national bank or federal savings 

association of a competitive or business opportunity, create business uncertainties, or diminish 

financial results. Time frames have been established for completing each type of application and 

notice. As of September 30, 2022, the OCC completed 98 percent of national bank and federal 

savings association applications and notices within the required time frame, above the target of 95 

percent. The OCC will continue to meet its Charter Program goals by providing staff training, 

coordinating efforts between charter and supervisory staff on safety and soundness and 

compliance matters, issuing updated procedures, and maintaining an emphasis on accessibility 

and early consultation with national bank and federal savings association organizers and others 

proposing national bank and federal savings association structure changes. 

Section III – Additional Information

A – Summary of Capital Investments 

Modernizing the OCC’s approach to bank supervision through standardizing data and 

information, reducing duplication of effort, and leveraging technology is an agency priority. A 

single supervisory platform will provide data, information, and analytics to OCC staff to assist in 

making better decisions, in near real time, to support the agency’s mission.
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The OCC Chief Information Officer’s (CIO) strategy aligns information technology initiatives 

and investments to the OCC’s core mission, including the development of new or enhanced 

applications and services and the disposition of redundant or “end-of-lifecycle” applications, 

capabilities, and services. 

The CIO strategy is implemented through the budget formulation and the Capital Planning and 

Investment Control processes. These processes ensure that all IT investments are aligned with the 

OCC’s mission, goals, and objectives, before a project is funded. The OCC ensures funding and 

staff resources to address IT investment priorities and considers risk mitigation strategies for IT 

investments to ensure that they are meeting stated performance goals. Performance metrics are 

linked to the delivery, alignment, and achievement of the OCC’s strategic program objectives to 

support evaluation of cost effectiveness for each investment. 

FY 2023 and 2024 Plans - The OCC has 4 major IT initiatives in FY 2023 and 2024: 

• Server Support Services (SSS) - The SSS supports the OCC’s server Operations and 

Maintenance, including refreshes of End-of-Life hardware. The infrastructure staff continues 

to build out additional capacity and support server technology refresh, business resiliency, and 

enterprise storage capacity. 

• Telecommunications Services and Support (TSS) - TSS includes telecommunications Wide 

Area Network (WAN) and Local Area Network (LAN) infrastructure. Remote access to the 

OCC systems is facilitated via a virtual private network and secure access to cloud services. 

This includes messaging services supporting highly mobile bank examiners and the OCC 

workforce. In FY 2023, the OCC will continue to refresh telecommunication infrastructure to 

increase capacity, maximize uptime, and maintain our security posture. 

• End User Services and Support (EUSS) - EUSS includes help desk/customer service support, 

computer hardware and software operations and maintenance, mobile devices, printers, asset 

management, and desktop engineering and image management. In FY 2023, OCC will 

refresh mobile devices and begin the early stages of the next computer refresh. 

• Cyber Security (CS) – CS includes technologies, processes and practices aligned to protect 

networks, computers, programs and data from attack, damage, or unauthorized access. In 

alignment with Federal and Treasury requirements, the OCC has transitioned the Agency's 

systems and applications into Information System Continuous Monitoring and Ongoing 

Authorization. In FY 2023, the OCC will continue to deploy technologies to meet Executive 

Order 14028 on Improving the Nation’s Cybersecurity , Zero Trust Architecture, and 

additional cloud-based services to minimize dependence on the OCC Data Center for critical 

network security and infrastructure services. 

A summary of capital investments, including major information technology and non-technology 

investments, can be accessed at: 

https://www.treasury.gov/about/budget-performance/Pages/summary-of-capital-investments.aspx.