Office of Thrift Supervision
Press Releases
March 16, 2009
OTS 09-015 - OTS Announces Plan to Realign Regions and Enhance Large Bank Supervision
FOR RELEASE:
Monday, March 16, 2009
CONTACT:
William Ruberry
(202) 906-6677
Washington, D.C. — The Office of Thrift Supervision (OTS) announced plans today to realign its regional structure and enhance supervision of the largest thrifts to balance staff resources geographically, achieve greater operating efficiencies and support regulatory consistency across regions.
“Our mission is to effectively oversee a robust, innovative, safe and sound thrift industry,” said Acting Director Scott M. Polakoff. “These actions are part of our ongoing efforts to keep the agency well-aligned to meet the evolving challenges of the future.”
Under the regional realignment plan, the OTS is organizing its regional structure into four supervisory regions. Due to a change in the number and size of institutions supervised by the West Region, three of the existing regions will be realigned into two. The Central Region, headquartered in Chicago, will expand its oversight to include thrifts in Minnesota, Iowa, Nebraska, South Dakota and North Dakota. All of the former West Region and much of the Midwest Region will combine to form the new Western Region with headquarters in Dallas.
The OTS is also creating a new executive-level position in Washington, D.C., responsible for executing the large bank oversight program announced on February 26, 2009 for institutions with more than $10 billion in assets. This new Assistant Deputy Director will be selected in the next 45 days and will also oversee supervision operations and policy, compliance, consumer protection, risk management, corporate applications, holding companies and international activities.
The OTS will continue to maintain area offices in Seattle and Santa Ana, and will retain a substantial supervisory presence in the former West Region headquarters in San Francisco.
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