The Office of Thrift Supervision (referred to as ``OTS'' or ``Office'') is an office of the Department of the Treasury. Its functions are to charter, supervise, regulate and examine Federal savings associations and to supervise, regulate and examine all savings associations. It is directed by a Director, who is appointed by the President and confirmed by the Senate to a five-year term. The Director directs and carries out the mission of the OTS with the assistance of offices reporting directly to him. One of these offices oversees the direct examination and supervision of savings associations by regulatory staff to ensure the safety and soundness of the industry. [57 FR 14335, Apr. 20, 1992, as amended at 60 FR 66869, Dec. 27, 1995]