Duties & Functions

Office of Thrift Supervision

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The Office of Thrift Supervision (OTS) is the successor to the Federal Home Loan Bank Board. It was established by Congress on August 9, 1989, as the primary Federal regulator of all Federal and state-chartered savings institutions across the nation that belong to the Savings Association Insurance Fund (SAIF). The OTS headquarters is in Washington, D.C., but OTS staff work out of local offices organized into five regions examine and supervise savings institutions throughout the country. Its OTS functions include:

• Serving as the primary regulator of all Federal and state-chartered savings institutions;
• Issuing federal charters for savings and loan associations and savings banks;
• Adopting and enforcing regulations to ensure that both Federal and state-chartered thrift institutions operate in a safe and sound manner.