Business, Legal & Accounting Glossary
A computerized system that monitors the conditions of national banks finances. It was developed in 1975 by the United States office of the comptroller of the currency (OCC) to act as an advanced warning system for failing banks. It does this by comparing the quarterly performance reports of a bank to a group of other banks to determine the overall financial state of that bank, enabling the OCC to take appropriate measures as required.
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This glossary post was last updated: 20th November, 2021 | 0 Views.