COMPTROLLER OF THE CURRENCY: An agency of the U.S. Federal government responsible for chartering national banks. In other words, if you want to establish a bank with the word "national" in the title, then you must gain permission from the Comptroller of the Currency. The Comptroller is also responsible for regulating banks and might even assume control of a bank that is in serious trouble (that is, on the verge of going out of business). Although the term "currency" appears in the title, the Comptroller of the Currency is primarily a bank regulator and has almost nothing to do with the nation's "currency.

     See also | bank | bank failure | regulation | Federal Reserve System | currency |

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The common term for the portion of personal income used to pay personal tax and nontax payments. Personal tax and nontax payments is the official item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis measuring the personal income taxes paid to the government sector on personal income received by the household sector. Personal tax and nontax payments are subtracted from personal income (PI) to calculate disposable income (DI). Personal tax and nontax payments are about 15 percent of personal income and about 13 percent of gross domestic product.

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