| Annual Performance Goal |
Indicator |
Target |
Results |
| 1. Respond promptly to all financial institution closings and emerging issues. |
Number of business days after institution failure by which depositors will have access to insured funds either through transfer of deposits to successor insured depository institution or depositor payout. |
If the failure occurs on a Friday the target is one business day. |
Achieved.
See pg. 19. |
| If the failure occurs on any other day of the week, the target is two business days. |
Not Applicable. All failures occurred on a Friday. |
| 2. Identify and address risks to the insurance funds. |
Assess risks posed by large insured depository institutions. |
Assess risks in 100 percent of large insured depository institutions and adopt appropriate strategies. |
Achieved.
See pg. 11. |
|
Identify and follow up on concerns referred for examination or other action (i.e., contact the insured institution or primary supervisor). | Identify and follow up on 100 percent of referrals. |
Achieved.
See pg. 12. |
| Disseminate data and analyses on current issues and risks affecting the banking industry to bankers, supervisors, stakeholders, and the public. |
Analyses are included in regular publications or as ad hoc reports on a timely basis.
|
Achieved.
See pg. 11. |
| Conduct industry outreach activities aimed at the banking community and industry trade groups to discuss current trends and concerns and to inform bankers about available FDIC resources. | Achieved.
See pg. 11. |
| 3. Maintain sufficient and reliable information on insured depository institutions. |
Maintain quality and timeliness of bank data. |
Implement a modernized Call Reporting process by December 31, 2004. |
Not Achieved.
See pg. 11. |
| 4. Maintain and improve the deposit insurance system. |
Pursuit of changes to the deposit insurance system is in accordance with proposals submitted to the Congress.
|
Provide information and analysis to Congressional committees in support of deposit insurance reform legislation.
|
Achieved.
See pgs. 8-9.
|
Develop and obtain the necessary support for a proposed assessment credit and rebate system and a new deposit insurance pricing system.
|
Achieved.
See pgs. 8-9. |
| When deposit insurance reform is enacted, implement legislation in accordance with statutorily prescribed time frames. |
Not Applicable.
Legislation not enacted in 2004. |
Make appropriate changes to the current methodology for projecting losses in failing financial institutions and establishing related loss reserves for the deposit insurance funds.
|
Review discrepancies between projected failed assets and actual failed assets by applying sophisticated analytical techniques to examine the effectiveness of the loss projection model and adjust the methodology for projecting losses accordingly. |
Achieved.
See pgs. 8-9. |
Implement enhancements to the reserving process and methodology in accordance with recommendations from a comprehensive 2003 review.
|
Achieved.
See pgs. 8-9. |
Maintain fund adequacy.
|
Set assessment rates to maintain the insurance funds at the designated reserve ratio, or return them to the designated reserve ratio if they fall below it, as required by statute.
|
Achieved.
See pgs. 8-9. |
If deposit insurance reform legislation becomes law in 2004, promulgate rules and regulations establishing criteria for replenishing the deposit insurance fund when it falls below the low end of the range.
|
Not Applicable.
Legislation
not enacted
in 2004. |
Develop a working prototype of a new, integrated fund model for financial risk management.
|
Achieved.
See pgs. 8-9. |
| Conduct a conference on the "Future of Banking." |
Host conference, present findings from the study and obtain feedback from scholars and industry representatives and other interested parties. |
Not Achieved.
See pg. 28.
|
| Maintain quality and visibility of the Corporation's banking research activities. |
Implement an FDIC Center for Financial Research with enhanced ties to the academic community. |
Achieved.
See pg.10. |
| 5. 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. |
Utility of educational tools developed for bankers and consumers. |
Develop a CD-ROM and Internet-based resource for bankers on the deposit insurance rules. |
Achieved.
See pg. 18. |
