Introduction
The FDIC is subject to
the requirements of the Government Performance and Results ACT (GPRA).
In accordance with the requirements of GPRA, the FDIC reviews and
updates its Strategic Plan at least every three years, publishes
an Annual Performance Plan, and conducts program evaluations to
assess whether the Corporation’s programs are achieving their stated
purposes.
Corporate Planning Process
The
FDIC uses an integrated planning process under which guidance and
direction are provided
by senior management and developed with input from program personnel.
Business requirements, industry information, human capital, technology and
financial data are considered in preparing annual performance plans and budgets.
Factors influencing the FDIC’s plans include changes in the financial
services industry, program evaluations and other management studies, as well
as prior period performance. As described below, the FDIC also solicits input
from its external stakeholders in developing its Strategic Plan.
The FDIC's
strategic goals and objectives are communicated to its employees
via the
Internet and internal communications such as newsletters and
staff meetings. FDIC pay and award/recognition programs are also
structured to reward employee contributions to the achievement
of the Corporation’s
strategic objectives.
Annual Performance Plan
The
FDIC’s Strategic Plan is implemented through annual performance plans.
The annual plans identify annual performance goals, indicators and targets for
each strategic objective. The performance goals use a mix of output and milestone
targets to focus and measure the FDIC’s efforts toward accomplishing its
mission. Developing meaningful outcome-oriented measures remains a process to
which the FDIC is committed.
Throughout each year,
progress reports are prepared for management and staff’s review and action. Each year, the FDIC submits an Annual
Report to the Congress that compares actual performance to the annual performance
goals. This report is also posted on the FDIC’s web site, www.fdic.gov.
Stakeholder Consultation
The FDIC’s various stakeholders, including its employees, were invited
to comment on the draft Strategic Plan for 2005 through 2010. The draft Strategic
Plan was also posted on the Corporation’s Web site seeking public comment
for a period of 30 days. No significant contrary views were expressed by the
FDIC’s stakeholders.
Program Evaluations
The FDIC’s Office of Enterprise Risk Management (OERM) has primary
responsibility for coordinating and reporting on the evaluations of the
Corporation’s programs. This role is independent of the program
areas; however, program evaluations are interdivisional, collaborative
efforts and they involve management and staff from the affected
division(s) and offices(s). Such participation is critical to fully
understanding the program being evaluated. It also gives the division(s)
and office(s)
a stake in the process.
Program Evaluation Schedule: During
the period covered by this Strategic Plan, the FDIC will continue its cyclical
schedule of evaluating its programs. To date, evaluations of the Insurance
and Receivership Management programs have been completed.
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Other Financial Institution Regulatory Agencies
The FDIC works closely with other federal financial institution regulators—principally
the Board of Governors of the Federal Reserve System (FRB), the Office of the
Comptroller of the Currency (OCC), and the Office of Thrift Supervision (OTS)—to
address issues and programs that transcend the jurisdiction of each agency. Regulations
are in many cases interagency efforts, and the majority of supervisory policies
are written on an interagency basis. Examples include policies addressing subprime
lending, capital adequacy, fraud information-sharing and off-site monitoring
systems. In addition, the Comptroller of the Currency and the OTS Director are
members of the FDIC Board of Directors, which facilitates crosscutting policy
development and regulatory practices among the FDIC, the OCC and the OTS.
The FDIC, the FRB, the OCC and the OTS also work closely with the
National Credit Union Administration (NCUA), which supervises and insures
credit unions; the Conference of State Bank Supervisors (CSBS), which
represents the state regulatory authorities; and individual state regulatory
agencies.
Federal Financial Institutions Examination Council
The Federal Financial Institutions Examination Council (FFIEC),
consisting of members of each of the five regulators listed above
as well as the CSBS, is empowered to prescribe uniform principles,
standards and report forms for the federal examination of insured
depository institutions and federally insured credit unions. The
FFIEC makes recommendations to promote uniformity in the supervision
of insured depository institutions and federally insured credit unions,
develops standardized software and provides uniform examiner training.
The FFIEC chair rotates among the five federal regulators. As a member
of the FFIEC, the FDIC participates on task forces to carry out interagency
objectives and activities. These task forces focus on Consumer Compliance,
Examiner Education, Information-Sharing Reports, Supervision, and
Surveillance Systems. In addition, the FDIC participates in the FFIEC’s
Legal Advisory Group and Appraisal Subcommittee.
Basel Committee on Banking Supervision
The FDIC participates on the Basel Committee on Banking Supervision, a forum
for international cooperation on matters relating to financial institution
supervision. The committee promotes harmonization by issuing “sound practices” papers
and developing supervisory standards to which its members voluntarily adhere.
The Basel Committee on Banking Supervision aims to improve the consistency
of capital regulations internationally, make regulatory capital more risk-sensitive,
and promote enhanced risk-management practices among large, internationally
active banking organizations.
The Basel II Capital Accord is an effort by international banking
supervisors to update the original international bank capital accord
(Basel I), which has been in effect since 1988.
Interagency
Country Exposure Risk Committee
The
Interagency Country Exposure Risk Committee members – the FDIC,
the FRB and the OCC – are
responsible for providing an objective opinion concerning the
degree of transfer risk that is inherent in the cross-border and
cross-currency lending by U. S. financial institutions.
Shared National Credit Program
The
FDIC participates with other federal financial institution agencies
in the Shared National Credit Program, an
interagency effort to perform a uniform, credit review of financial
institution loans that exceed $20 million and are shared by three
or more financial
institutions.
Joint Agency Task Force on Discrimination
in Lending
The FDIC participates
on the Joint Task Force on Discrimination in Lending along with the
other federal financial institution agencies, NCUA, the Department
of Housing
and Urban Development, the Office of Federal Housing Enterprise Oversight,
the Department of Justice, the Federal Housing Finance Board, and
the Federal Trade Commission. The agencies exchange information
about fair lending
issues, examination and investigation techniques, interpretations
of the statute and regulations, and case precedents.
Antiterrorism, Fraud and Money Laundering
The FDIC works with the Department of Homeland Security (DHS) and the Office
of Cyberspace Security (OCS) through the Finance and Banking Information Infrastructure
Committee (FBIIC) on efforts to improve the reliability and security of the
financial industry’s infrastructure. Other members of the FBIIC include
the Commodity Futures Trading Commission, FRB, NCUA, OCC, OTS, the Securities
and Exchange Commission (SEC), Department of the Treasury, and the National
Association of Insurance Commissioners.
The FBIIC also participates in the Emergency Supervision Communication
Group of the FFIEC. This interagency group is a subcommittee of the
FFIEC’s Supervisory Emergency Communication Protocols Committee
that focuses on maintaining our supervisory responsibilities in times
of emergency.
The FDIC participates in several other interagency groups to coordinate
efforts to combat fraud and money laundering and to implement the USA
PATRIOT Act. These groups include:
- The National Bank Fraud Working Group, sponsored by the Department
of Justice;
- The National Money Laundering Strategy Steering
Committee, headed by the Departments of Justice and Treasury;
- The
National Bank Secrecy Act Advisory Group, a public/private
partnership of agencies and organizations that meet to discuss
strategies and industry efforts to curb money laundering; and
- Working groups
sponsored by Department of the Treasury to develop regulations
to implement sections of the USA PATRIOT Act that
are applicable to insured financial institutions.
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Human Resources Development Council
The FDIC participates in this interagency
group, headed by the U. S. Office of Personnel Management, which
performs research and discusses policy issues related to human
resources development.
Government Performance and Results Act Financial
Institutions Regulatory Working Group
In support of the Government Performance and Results Act (GPRA),
the interagency Financial Institutions Regulatory Working Group,
composed of the FDIC, the FRB, the OCC, the OTS, and the NCUA,
was formed in October 1997. The Office of Federal Housing Enterprise
Oversight, the SEC, and the Federal Housing Finance Board also
participate. This group works to identify the goals and objectives
that are common to each of these organizations and their programs
and activities.
Federal
Trade Commission, National Association of Insurance Commissioners,
Securities and Exchange Commission
The Gramm-Leach-Bliley Act of 1999 permitted insured financial
institutions to expand the products they offer to include insurance
and securities. As a result, the FDIC coordinates its activities related
to these new products, including privacy issues, with the Federal Trade
Commission, the National Association of Insurance Commissioners, and
the SEC.
Economic Growth and Regulatory Paperwork
Reduction Act
The FDIC leads the Economic Growth and Regulatory Paperwork Reduction
Act (EGRPRA) project, an interagency initiative established by
the federal financial institution regulatory agencies to review
all regulations that impose a burden on the banking industry.
Through the FFIEC, the FDIC, in conjunction with the FRB, the
NCUA, the OCC, and the OTS, is conducting a review to identify
and eliminate any regulatory requirements that are outdated,
unnecessary or unduly burdensome, as mandated by EGRPRA.
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Interested parties can contact the FDIC or obtain information
through the sources listed below.
FDIC
Web Site
In addition to general information about the FDIC, the Web
site -
www.fdic.gov - provides:
- Deposit insurance information, including
a calculator to determine
insured deposit coverage and a list of insured institutions;
- Industry
data;
- Regulation and examination resources;
- Consumer and community
affairs information;
- Information on buying from and selling
to the FDIC; and
- Publications, press releases and information
on conferences.
FDIC Central Call Center
The FDIC also provides a centralized Call Center to answer general
questions about the FDIC. For specific matters, the Call Center
will direct callers to the FDIC subject matter experts. The telephone
numbers
and hours of operations of the Call Center are:
877-ASK-FDIC (877-275-3342); 800-925-4618 (TDD)
8:00 a.m. – 8:00 p.m. Eastern Time, Monday – Friday
FDIC Ombudsman
The FDIC Ombudsman is a neutral and confidential resource and liaison
to the financial industry and the public on any problem or complaint
in dealing with the FDIC. The Ombudsman helps facilitate communication,
explores options, and engages in conflict resolution strategies
and methods. The Ombudsman can be reached by telephone at 1(877)
275-3342
or by e-mail at ombudsman@fdic.gov.
Public Information Center
The Public Information Center provides publications to meet the needs
of financial institution professionals, researchers, students, reporters
and
the general public. Individuals and organizations may subscribe online
at www.fdic.gov to receive e-mail announcements of new publications.
They may also submit general inquiries by sending an e-mail to publicinfo@fdic.gov or
by calling the telephone numbers listed below:
(877) 275-3342 or (703) 562-2200
OIG Hotline
The Office of Inspector General (OIG) operates a toll-free nationwide
hotline to provide a convenient way for FDIC employees, its contractors,
and others to report incidents of fraud, waste, abuse and mismanagement
within the FDIC and its contractor operations. To report suspected
waste, fraud or abuse, call 800-964-FDIC; or e-mail ighotline@fdic.gov.
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