These standards, which are based on the standards that the OCC used in the comprehensive revision of its regulations undertaken pursuant to its Regulation Review Program, serve to link the design and development of the OCC's regulations to the four organizing principles that support its mission. The OCC will use these standards to ensure that each of its rules, not only achieves the particular regulatory or supervisory objective to which it is directed, but also comports with the OCC's overarching mission and direction. These standards are issued pursuant to the commitment made by the OCC in its Customer Service Plan to establish standards governing the development of its regulations. The OCC is responsible for overseeing the approximately 2,800 national banks that make up the national banking system. In this role, the OCC regulates, supervises, and examines national banks, determins the banks' corporate structure and powers, and assesses customer relationships.
Regulations influence how banks do business and serve their customers.
The OCC's regulations promote competitiveness by facilitating a national bank's ability to develop new lines of business subject to any safeguards that are necessary to ensure that the bank has the expertise to manage risk effectively and adapt its business practices to deal responsibly with its customers. Regulations can also affect national banks' ability to compete by contributing significantly to their costs. The OCC's goal is to improve efficiency and reduce burden by updating and streamlining its regulations and eliminating those that no longer contribute significantly to the fulfillment of its mission. National banks are the principal users of the OCC's regulatory product, but the agency's regulations can also have a substantial effect on individuals, businesses, and communities. The OCC's regulations help assure fair access to financial services for all Americans by removing unnecessary impediments to the flow of credit to consumers and small businesses, by encouraging national banks' involvement in community development activities, and by implementing federal laws designed to protect consumers of financial services.