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2005 Annual Report

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III. Performance Results Summary

Summary of 2005 Performance Results by Program

The FDIC successfully achieved 27 of the 34 annual performance targets established in its 2005 Annual Performance Plan. Six performance targets were not applicable and one was not met.

Key accomplishments by program are highlighted on the following page. There were no instances in which 2005 performance had a material adverse effect on successful achievement of the FDIC’s mission or its strategic goals and objectives regarding its major program responsibilities. In addition, consideration of 2005 performance results was an integral part of the development of the FDIC’s 2006 Annual Performance Goals.

The Office of Inspector General (OIG) has shared its view of the most significant challenges the Corporation is confronting and has acknowledged actions underway to address these issues. (See Appendix C for a list of these challenges.) Management is committed to addressing each of the issues identified by the OIG.

Program Area Performance Results
Insurance
  • Successfully implemented the Central Data Repository (CDR) to collect and process Reports of Condition and Income (Call Reports) from financial institutions. This FFIEC project will improve the quality and timeliness of financial institution data.
  • Conducted and published analysis on the effects of Hurricanes Katrina and Rita.
  • Issued numerous economic and banking information and analyses including Outlook, FYI electronic bulletins, and Center for Financial Research Working Papers.
  • Completed risk assessments for all large insured depository institutions and followed up on all identified concerns referred for examination or other supervisory action.
  • Developed a working prototype of an integrated fund model (IFM) during 2005, with enhancements focusing on the primary component of the IFM, the Loss Distribution Model.
  • No financial institution failures occurred during 2005.
Supervision and Consumer Protection
  • Conducted 2,399 safety and soundness examinations. This included all statutorily required safety and soundness examinations, except for a small number deferred due to pending mergers or postponed to early 2006 to give financial institutions time to recover from the effects of the Gulf Coast Hurricanes.
  • Conducted 2,020 compliance and Community Reinvestment Act examinations in accordance with FDIC policy, except for a small number postponed to early 2006 to give financial institutions time to recover from the effects of the Gulf Coast Hurricanes.
  • Participated in 406 Money Smart events and technical assistance activities related to the Community Reinvestment Act, fair lending and community development, added 306 Money Smart Alliance members, and distributed 95,283 copies of the Money Smart curriculum.

Receivership Management
  • Terminated 29 of the 94 (31 percent) financial institution receiverships existing at the beginning of the year.
  • Conducted 100 percent of professional liability investigations on all four institutions that reached the 18-month milestone.



Last Updated 04/10/2006 communications@fdic.gov