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Board Report: 2013-IE-B-003 March 27, 2013

Status of the Transfer of Office of Thrift Supervision Functions

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Management Response

We provided a draft of this report to FRB, FDIC, and OCC. We received written responses from FRB and OCC and informal comments from FDIC.

FRB stated in its written response that it is working diligently to complete the proposed rulemaking and expects the proposal will be issued by the end of the first quarter or the beginning of the second quarter. FDIC agreed with the conclusions contained in the report that FDIC has implemented the actions required to date in the Plan. OCC stated in its written response that it agrees with the conclusions in our report.

FRB's and OCC's written responses are included in this report as appendices 3 and 4, respectively.

* * * * * * *

We appreciate the courtesies and cooperation provided to our staffs during the audit. If you wish to discuss the report, you may contact Marla A. Freedman, Assistant Inspector General for Audit, Treasury OIG, at (202) 927-5400; E. Marshall Gentry, Assistant Inspector General for Evaluations, FDIC OIG, at (703) 562-6378; or Timothy P. Rogers, Acting Associate Inspector General for Inspections and Evaluations, FRB OIG, at (202) 973-5042. Major contributors to this report are listed in appendix 5.


Eric M. Thorson
Inspector General
Department of the Treasury


Jon T. Rymer
Inspector General
Federal Deposit Insurance Corporation


Mark Bialek
Inspector General
Board of Governors of the Federal Reserve System and Consumer Financial Protection Bureau