WASHINGTON – The Office of the Comptroller of the Currency
(OCC) is sending a team of examiners to assist Iraqi officials in developing
and establishing an independent and internationally recognized bank supervision
department. The bank examiners will support the overall reconstruction efforts
of the Coalition Provisional Authority in Iraq.
“Effective and independent bank supervision is essential to
the maintenance of a sound banking system that is capable of providing the
credit necessary to build a vibrant economy that meets the needs of the Iraqi
people,” said Comptroller of the Currency John D. Hawke, Jr. “We at the OCC are
proud to lend our expertise to the Coalition Provisional Authority and the
people of Iraq in this important undertaking.”
The OCC bank examiners bring decades of bank supervision
experience to the Coalition Provisional Authority. Their background includes
experience supervising large banks as well as community institutions.
The team of OCC bank examiners includes: Cathryn C.
FitzGerald, Steven M. Strasser and Martin S. Wiseman. They will depart for Iraq
on January 15, 2004.
The Comptroller noted that the OCC had more volunteers for
the mission than available slots. “It’s a measure of the dedication and
commitment of the OCC staff that so many highly qualified professionals stepped
forward to take on an assignment without concern for the hardships that may be
involved.”
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The OCC charters,
regulates and examines approximately 2,100 national banks and 52 federal
branches of foreign banks in the U.S., accounting for more than 55 percent of
the nation’s banking assets. Its mission is to ensure a safe and sound and
competitive national banking system that supports the citizens, communities
and economy of the United States.
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