Responsibilities
OTS supervised holding companies as well as thrift institutions. This resulted in OTS providing consolidated supervision for such well-known firms as General Electric (GE), AIG, Inc., Ameriprise Financial, American Express, Morgan Stanley, and Merrill Lynch. OTS's consolidated supervision program for GE, AIG Inc., and Ameriprise was recognized as "equivalent" by the European Union—allowing these firms to operate their financial businesses in the EU without forming an EU holding company and submitting to supervision in the EU.
The OTS was the primary regulator of Federal Savings Associations (sometimes referred to as Federal thrifts). Federal savings associations include both Federal Savings Banks and Federal Savings and Loans. The OTS was also responsible for supervising Savings and Loan Holding Companies (SLHCs) and some state-chartered institutions.
Read more about this topic: Office Of Thrift Supervision