DEFINITION of 'National Bank Surveillance System'
A computerized monitoring system developed and implemented in 1975 by the U.S. Office of the Comptroller of the Currency (OCC) to collect data and evaluate national banks' financial performance. By identifying banks in financial trouble, it acts as an early-warning system. Its quarterly Bank Performance Report compares each bank to a group of its peers to get an accurate picture of banks' performance.
BREAKING DOWN 'National Bank Surveillance System'
The purpose of the Office of the Comptroller of the Currency is, as its motto proclaims, "ensuring a safe and sound national banking system for all Americans." The OCC charters, regulates and supervises all U.S. national banks. Its supervisory functions include on-site reviews of national banks and oversight of bank operations.