Joint Implementation Plan, Dodd-Frank Sections 301-326
|April 07 2011|
Joint Implementation Plan
The FDIC, the FRB, the Office of the Comptroller of the Currency (OCC), and the Office of Thrift Supervision (OTS) jointly prepared this plan. It provides an overview of actions taken to date by the agencies to efficiently and effectively implement sections 301 through 326 of Dodd-Frank.
Transfer of Personnel
Pursuant to section 322(a) of Dodd-Frank, the Director of the OTS, the Comptroller of the Currency, and the FDIC Chairman will jointly determine the number of OTS employees necessary to perform and support the functions transferred to each agency. Pursuant to section 312(b)(2)(B) all of the OTSís functions relating to federal savings associations and all of the OTSís rulemaking authority for federal and state savings associations will be transferred to the OCC on the transfer date.
Because these functions make up the bulk of the OTSís operations, most of the OTSís approximately 1,000 employees will transfer to the OCC. Senior managers from the OCC, the OTS, and the FDIC are meeting regularly to discuss the process and to identify the functions to transfer to each agency and the numbers of employees needed to perform and support those functions.
The OCC and the OTS have established transition teams to coordinate these efforts, and these teams are working together to identify and address mutual concerns and issues for resolution. The FDIC and the OTS are following a similar process. The OTS has shared information related to employee data, work locations, salary and classification structures, benefits, and human resources policies and practices with both the OCC and the FDIC. The human resources staffs of the three agencies have worked together to analyze this information, identify differences in policies and practices, assess implementation impacts, and formulate recommendations for the efficient and effective integration of their workforces. ...
PDF format, 1.13MB, 28Pages.
Board of Governors of the Federal Reserve System
|Last Updated ( April 07 2011 )|
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