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Each depositor insured to at least $250,000 per insured bank



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2002 Annual Report

 
II. Performance Results
 

Multi-Year Performance Trend

 
Least-Cost Resolution
Annual Goal Market to all known qualified and interested potential assuming institutions.
1999 Results Annual goal was not established in 1999.
2000 Results There were seven failures in 2000. One hundred percent of the qualified potential bidders were contacted.
2001 Results There were four failures in 2001. One hundred percent of the qualified potential bidders were contacted.
2002 Results There were 11 failures in 2002. One hundred percent of the qualified potential bidders were contacted.
2003 Goal Market failing institutions to all known qualified and interested potential bidders.

Professional Liability Claims
Annual Goal Investigations are conducted into all potential professional liability claim areas in all failed insured depository institutions and a decision to close or pursue each claim will be made within 18 months after the failure date in 80 percent of all investigations.
1999 Results As of 12/31/99, six institutions failed within the first three quarters of 1999 and decisions were made with regard to five of the 66 potential claims. For the April 1998 failure, decisions were made in all 11 claim areas in 17 months. The remaining 1998 failures occurred less than 18 months ago.
2000 Results A decision to close or pursue each claim was made within 18 months after the failure date for 100 percent of all investigations.
2001 Results Annual goal revised (see below).
2002 Results Annual goal revised (see below).
2003 Goal Annual goal revised (see below).
 
Annual Goal Revised Goal: Conduct investigations into all potential professional liability claim areas in all failed insured depository institutions. Decide to close or pursue each claim as promptly as possible, considering the size and complexity of the institution.
1999 Results Annual goal was not established in 1999.
2000 Results Annual goal was not established in 2000.
2001 Results Five of nine institutions that reached the 18-month milestone had 100 percent of professional liability investigations completed.
2002 Results Two of six institutions that reached the 18-month milestone during 2002 had 100 percent of professional liability investigations completed. The other four institutions had at least 80 percent of professional liability investigations completed, meeting the goal of 80 percent.
2003 Goal Conduct investigations into all potential professional liability claim areas in all failed insured depository institutions. Decide to close or pursue each claim as promptly as possible, considering the size and complexity of the institution.

Receivership Terminations
Annual Goal Achieve a 35 percent reduction in the number of active receiverships in 2000.
1999 Results Annual goal was not established in 1999.
2000 Results One hundred fifty-six receiverships were terminated, thus achieving the goal of 156.
2001 Results Annual goal revised (see below).
2002 Results Annual goal revised (see below).
2003 Goal Annual goal revised (see below).
 
Annual Goal Revised Goal: Manage the receivership estate and its subsidiaries toward an orderly termination.
1999 Results Annual goal was not established in 1999.
2000 Results Annual goal was not established in 2000.
2001 Results Fifty-two out of the 76 targeted receiverships were terminated in 2001. In mid-2001, the target of 76 terminations was revised to 36. The pace of termination was slowed by impediments that represented material financial or legal risks to the FDIC.
2002 Results For the eight failures from 1999 that matured in 2002, FDIC terminated six receiverships, meeting the target to terminate 75 percent within three years of failure.
2003 Goal Manage the receivership estate and its subsidiaries toward an orderly termination. Value, manage and market assets of the failed institutions and their subsidiaries in a timely manner to maximize net return.

 

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Last Updated 03/31/2003 communications@fdic.gov

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