Federal Deposit
Insurance Corporation

Respond promptly to all financial institution closings and related emerging issues.

Achieved.

Achieved.

Achieved.

Disseminate data and analyses on issues and risks affecting the financial services industry to bankers, supervisors, the public, and other stakeholders on an ongoing basis.

Set assessment rates to restore the insurance fund reserve ratio to the statutory minimum of 1.35 percent of estimated insured deposits by September 30, 2020.

Update assessment projections and recommend changes.

Provide updated fund projections to the FDIC Board of Directors by June 30, 2011, and December 31, 2011.

Demonstrated progress in achieving the goals of the Restoration Plan.

Provide updates to the FDIC Board by June 30, 2011, and December 31, 2011.

Expand and strengthen the FDIC’s participation and leadership role in supporting robust international deposit insurance and banking systems.

Scope of information sharing and assistance available to international governmental bank regulatory and deposit insurance entities.

Undertake outreach activities to inform and train foreign bank regulators and deposit insurers.

Provide educational information to insured depository institutions and their customers to help them understand the rules for determining the amount of insurance coverage on deposit accounts.

Timeliness of responses to deposit insurance coverage inquiries.

Respond within two weeks to 95 percent of written inquires from consumers and bankers about FDIC deposit insurance coverage.

Initiatives to increase public awareness of deposit insurance coverage changes.

Conduct at least 12 telephone or in-person seminars for bankers on deposit insurance coverage.

1

Conduct on-site risk management examinations to assess the overall financial condition, management practices and policies, and compliance with applicable laws and regulations of FDIC-supervised depository institutions.

Percentage of required examinations conducted in accordance with statutory requirements and FDIC policy.

Conduct 100 percent of required risk management examinations within the time frames prescribed by statue and FDIC policy.

2

For all institutions that are assigned a composite Uniform Financial Institutions Rating of 3, 4, or 5, conduct on-site visits within six months after implementation of a corrective program. Ensure during these visits and subsequent examinations that the institution is fulfilling the requirements of the corrective program that has been implemented and that the actions taken are effectively addressing the underlying concerns identified during the examination.

Percentage of follow-up examinations and on-site visits of 3-, 4-, or 5-rated institutions conducted within required time frames.

Conduct 100 percent of required on-site visits within six months after implementation of a corrective program.

3

Complete the transfer of personnel and supervisory responsibility for state-chartered thrifts from the Office of Thrift Supervision to the FDIC in accordance with approved plans and statutory requirements.

Transfer of personnel and supervisory responsibility for state-chartered thrifts from OTS to the FDIC.

Complete the transfer of supervisory responsibility for state-chartered thrifts by July 21, 2011.

7

Facilitate more effective regulatory compliance so as to reduce regulatory burden on the banking industry, where appropriate, while maintaining the independence and integrity of the FDIC’s risk management and consumer compliance supervisory programs.

Issuance of revised corporate directive.

Issue by March 31, 2011, a revised corporate directive on the issuance of Financial Institution Letters (FILs) that includes a requirement that all FILs contain an informative section as to their applicability to smaller institutions (total assets under $1 billion).

Strategic Goal: Consumers' rights are protected and FDIC-supervised institutions invest in their communities.

8

Conduct on-site CRA and compliance examinations to assess compliance with applicable laws and regulations by FDIC-supervised depository institutions.

Percentage of examinations conducted in accordance with the time frames prescribed by FDIC policy.

Conduct 100 percent of required examinations within the time frames established by FDIC policy.

9

Take prompt and effective supervisory action to monitor and address problems identified during compliance examinations of FDIC-supervised institutions that receive an overall 3, 4, or 5 rating for compliance with consumer protection and fair lending laws.

Percentage of follow-up examinations or on-site visits of 3-, 4-, and 5-rated institutions conducted within required time frames.

For all institutions that are assigned a compliance rating of 3, 4, or 5, conduct follow-up examinations or on-site visits within 12 months to ensure that each institution is fulfilling the requirements of any corrective programs that have been implemented and that the actions taken are effectively addressing the underlying concerns identified during the examination.

10

Complete the transfer of personnel and supervisory responsibility for compliance examinations of FDIC supervised institutions with more than $10 billion in assets and their affiliates from the FDIC to the new Consumer Financial Protection Bureau (CFPB) in accordance with statutory requirements.

Transfer from the FDIC to the CFPB of personnel and supervisory responsibility for FDIC-supervised institutions with more than $10 billion in assets and their affiliates.

Complete by July 21, 2011, the transfer of supervisory responsibility from the FDIC to the CFPB.

11

Effectively investigate and respond to written consumer complaints and inquiries about FDIC-supervised financial institutions.

Timely responses to written consumer complaints and inquiries.

Respond to 95 percent of written consumer complaints and inquiries within time frames established by policy, with all complaints and inquiries receiving at least an initial acknowledgement within two weeks.

12

Establish, in consultation with the FDIC’s Advisory Committee on Economic Inclusion and other regulatory agencies, national objectives and methods for reducing the number of unbanked and underbanked individuals.

Completion of initiatives to facilitate progress in improving the engagement of low- and moderate-income individuals with mainstream financial institutions.

Launch the FDIC Model Safe Accounts Pilot, begin data collection on the accounts from banks, and start reporting on results of the pilot.

1

Market failing institutions to all known qualified and interested potential bidders.

Scope of qualified and interested bidders solicited.

Contact all known qualified and interested bidders.

2

Value, manage, and market assets of failed institutions and their subsidiaries in a timely manner to maximize net return.

For at least 95 percent of insured institution failures, market at least 90 percent of the book value of the institution’s marketable assets within 90 days of the failure date (for cash sales) or 120 days of the failure date (for structured sales).

3

Manage the receivership estate and its subsidiaries toward an orderly termination.

Timely termination of new receiverships.

Terminate at least 75 percent of new receiverships that are not subject to loss share agreements, structured sales, or other legal impediments within three years of the date of failure.

4

Complete reviews of all loss share and Limited Liability Corporation (LLC) agreements to ensure full compliance with the terms and conditions of the agreements.

Percentage of reviews of loss share and LLC agreements completed and action plans implemented.

Complete on-site field work for reviews of 100 percent of the loss share and LLC agreements active as of December 31, 2010, to ensure full compliance with the terms and conditions of the agreements.

5

Conduct investigations into all potential professional liability claim areas for all failed insured depository institutions, and decide as promptly as possible to close or pursue each claim, considering the size and complexity of the institution.

Percentage of investigated claim areas for which a decision has been made to close or pursue the claim.

For 80 percent of all claim areas, make a decision to close or pursue professional liability claims within 18 months of the failure of an insured depository institution.