•State banks - Two Federal agencies share responsibility for State banks.
◦The Federal Deposit Insurance Corporation supervises State-chartered banks that are not members of the Federal Reserve System and State-chartered savings associations. The FDIC also insures deposits in banks and savings associations in the event of bank failure.
◦The Federal Reserve Board supervises State-chartered banks that are members of the Federal Reserve System.
As I recall, CFR CEO Richard Evans is a director with the Federal Reserve System in Dallas.