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Acting Comptroller of the Currency Testifies on Bank Supervision
Chairman Brown, Ranking Member Scott and Members of the Committee, I am pleased to testify today to provide an update on the activities underway at the Office of the Comptroller of the Currency (OCC). Despite the significant market stresses earlier this year and a challenging interest rate environment, the overall condition of the federal banking system is sound. OCCsupervised banks in the aggregate have strong levels of regulatory capital and healthy levels of profitability while maintaining sufficient liquidity buffers. The OCC engages directly with the institutions it supervises to ensure they are being vigilant ... (full story)