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Introduction

Description of Financial Institutions

 

Description of Available Information

Financial Information

Institution Organization Hierarchy

Branch Information


DESCRIPTION OF FINANCIAL INSTITUTIONS

There are several different types of regulated financial institutions in the United States, including insured depository institutions (DIs), such as banks (including commercial and savings banks), savings and loan associations and credit unions, holding companies of DIs, such as bank holding companies, nonbank affiliates of DIs, agencies and branches of foreign banks, and special purpose entities, such as Edge and Agreement corporations. Each of these institutions is subject to supervision and regulation by one of the five Federal Financial Institutions Examination Council (FFIEC) agencies.

Some banks are chartered by the federal government. These banks have the word "national" or carry the abbreviations of "N.A." or "N.S.&T." in their names. National banks are supervised by the Office of the Comptroller of the Currency (OCC), an independent bureau of the Department of the Treasury (Treasury). Other banks are chartered by the various states. The easiest way to identify state-chartered banks is the lack of national bank identifiers in their names. State-chartered banks that are members of the Federal Reserve System (FRS) are regulated, at the federal level, by the Board of Governors of the Federal Reserve System (FRB), an independent agency; state-chartered banks that are not members of the FRS are regulated by the Federal Deposit Insurance Corporation (FDIC), an independent agency that also insures the deposits of banks.

Savings and loan associations, also known as thrifts, and credit unions have either federal or state charters. Regardless of charter type, the Office of Thrift Supervision (OTS), an independent Treasury bureau, is the regulator of savings and loan associations. Similarly, all credit unions are regulated by the National Credit Union Administration (NCUA), which also insures credit union deposits.

Bank holding companies and nonbank subsidiaries owned or controlled by bank holding companies are supervised by the FRB. Nonbank subsidiaries of holding companies can be a variety of institutions, such as mortgage banking companies, finance companies, securities brokers and dealers, investment or merchant banks, and trust companies.

Agencies and branches of foreign banks may be licensed to conduct banking business in the United States by either the federal government or the states. If an agency or branch holds a federal license (which cannot be identified from its name as is the case with national banks), it is supervised by the OCC. If an agency or branch holds a state license, it is supervised by the FRB. There are a small number of branches of foreign banks that are permitted to accept insured deposits. These branches are supervised by the FDIC. By statute, the FRB has overall responsibility for foreign banks operating in the United States.

Special purpose entities, such as Edge and Agreement corporations, are generally authorized to finance international transactions. They are licensed and supervised by the FRB.

FINANCIAL INFORMATION

DIs, Branches, Agencies, Edge and Agreement Corporations

The financial information about depository institutions (banks, savings and loan associations and credit unions), branches and agencies of foreign banks operating in the United States and Edge and Agreement corporations available through this site comes from quarterly reports commonly referred to as Call Reports. These institutions are required by law and regulation to file Call Reports.

For each selected bank, savings and loan association, [or] credit union, [branch or agency of a foreign bank or Edge or Agreement corporation,] the most recent five quarters of balance sheets and income statements are available. You may also request details on the types of loans (e.g., residential mortgages, commercial loans, commercial real estate loans) made by the selected institution as of the most recent five quarters. Please note that the listing in the loan distribution information entitled "1-4 Family" is residential mortgage loans.

Bank holding companies are required by the law and FRB regulation to file a series of financial reports, commonly referred to as the Y-Reports. The financial information about holding companies available through this site is derived from these reports.

For each selected bank holding company, the most recent five quarters of balance sheets and income statements are available. You should note that, at this time, only financial information about the top holding company is available. The specific type and filing frequency of required reports filed by holding companies, and thus the type of information available through this site, depends upon the amount of total assets of the consolidated organization (i.e., the total assets of the holding company and all of its subsidiaries, including all DIs, mid-level holding companies and nonbank or nonthrift subsidiaries) and its complexity. Consequently, unlike banks and savings and loan associations, the same information is not available for all holding companies.

For example, if the consolidated organization has less than $150 million in total assets, the top holding company is generally required to file financial reports on a parent-only basis. As such, for these smaller organizations, the balance sheet and income statement information available through this site is parent-only information. Moreover, smaller holding companies file their required reports semi-annually (on June 30 and December 31), so there is no information available through this site as of March 31 or September 30. Holding companies with consolidated assets of $150 million or more are required to file both parent-only and consolidated financial information. Consolidated balance sheets and income statements for these larger organizations are currently available through this site. Furthermore, these companies file their regulatory reports on a quarterly basis. Consequently, these companies, unlike the smaller ones, will have financial information as of March 31 and September 30.

When you request holding company balance sheets and income statements, the information provided will indicate the appropriate "as of" date and type of report; either parent-only or consolidated.

INSTITUTION ORGANIZATION HIERARCHY

You may request information about the corporate structure of a particular institution. At this time, you may request information about all of the direct and indirect subsidiaries owned by the selected institution. Please note for large organizations, the structure information may be quite lengthy and complex.

BRANCH INFORMATION

You may request branch location information for a selected bank for each city or town in which the institution is located. For example, you may request all of the branch locations of a particular bank in the city of Richmond, Virginia. You must make another request to find out about the locations of branches of the same bank in Fredericksburg, Virginia. Locations of foreign branches of U.S. banks is also available.