On July 12, the four bank regulatory agencies, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Office of Thrift Supervision (OTS), and the Federal Deposit Insurance Corporation (FDIC) entered into a Memorandum of Understanding (MOU) that enhances the FDIC’s existing backup authority over insured depository institutions that the FDIC does not directly supervise. These institutions include national banks, federal savings associations and savings banks, and state-chartered banks that are members of the Federal Reserve System.