Annual Performance Goals and Targets |
2008 |
2007 |
2006 |
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. |
- One hundred percent of required risk management examinations are conducted on schedule.
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Achieved. |
Achieved. |
Achieved. |
2. Take prompt and effective supervisory action to address problems identified during the FDIC examination of FDIC-supervised institutions that receive a composite Uniform Financial Institutions Rating of "4" or "5" (problem institution). Monitor FDIC-supervised insured depository institutions' compliance with formal and informal enforcement actions. |
- One hundred percent of follow-up examinations are conducted within 12 months of
completion of the prior examination.
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Achieved. |
Achieved. |
Achieved. |
3. Assist in protecting the infrastructure of the U.S. banking system against terrorist financing, money laundering and other financial crimes. |
- One hundred percent of required Bank Secrecy Act (BSA) examinations are conducted on schedule.
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Achieved. |
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4. Increase regulatory knowledge to keep abreast of current issues related to money laundering and terrorist financing. |
- An additional 10 percent (at least 10 percent for year 2006) of BSA/AML subject-matter experts nationwide are certified under the Association of Certified Anti-Money Laundering Specialists certification program.
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Achieved. |
Achieved. |
5. More closely align regulatory capital with risk in large or multinational banks while maintaining capital at prudential levels. |
- Develop options for refining Basel II that are responsive to lessons learned from the 2007–2008 market turmoil.
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Achieved. |
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- Further develop the Basel II framework to ensure that it does not result in a substantial reduction in risk-based capital requirements or significant competitive inequities among different classes of banks. Consider alternative approaches for implementing the Basel Capital Accord.
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Achieved. |
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- Conduct analysis of early results of the new capital regime as information becomes available.
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Achieved. |
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- Promote international cooperation on the adoption of supplemental capital measures in countries that will be operating under Basel II.
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Achieved. |
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- Publish a Notice of Proposed Rulemaking.
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Achieved. |
- Participate in the continuing analysis of the projected results of the new capital regime.
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Achieved. |
Achieved. |
6. More closely align regulatory capital with risk in banks not subject to Basel II capital rules while maintaining capital at prudential levels. |
- Finalize a regulatory capital framework based on the Basel II "Standardized Approach" as an option for U.S. banks not required to use the new advanced approaches.
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Achieved. |
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- Complete rulemaking on Basel IA.
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Not Applicable. |
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- Develop a Notice of Proposed Rulemaking for public issuance.
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Achieved. |
7. Ensure that FDIC-supervised institutions that plan to operate under the new Basel II Capital Accord are well-positioned to respond to the new capital requirements. |
- Perform on-site examinations or off-site analyses of all FDIC-supervised banks that have indicated a possible intention to operate under Basel II to ensure that they are effectively working toward meeting required qualification standards.
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Not Applicable. |
Achieved. |
Achieved. |
8. Reduce regulatory burden on the banking industry while maintaining appropriate consumer protection and safety and soundness safeguards. |
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- Complete and evaluate options for refining the current risk-focused approach used in the conduct of BSA/AML examinations to reduce the burden they impose on FDIC-supervised institutions.
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Achieved. |
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- Applicable provisions of the Financial Services Regulatory Relief Act of 2006 (FSRRA) are implemented in accordance with statutory requirements.
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Partially Achieved. |
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- Support is provided to the Government Accountability Office (GAO), as requested, for studies required under FSRRA.
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Achieved. |
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- State AML assessments of Money Service Businesses (MSB) are incorporated into FDIC risk management examinations in states where MSB AML regulatory programs are consistent with FDIC risk management standards.
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Partially Achieved. |
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Strategic Goal: Consumers' rights are protected and FDIC-supervised institutions invest in their communities. |
1. Conduct CRA and compliance examinations in accordance with the FDIC's examination
frequency policy. |
- One hundred percent of required examinations are conducted within time frames established by FDIC policy.
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Achieved. |
Achieved. |
Achieved. |
2. Take prompt and effective supervisory action to monitor and address problems identified during compliance examinations of FDIC-supervised institutions that received a "4" or "5" rating for compliance with consumer protection and fair lending laws. |
- One hundred percent of follow-up examinations or related activities are conducted within 12 months from the date of a formal enforcement action to confirm that the institution is in compliance with the enforcement action.
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Achieved. |
Achieved. |
Achieved. |
3. Determine the need for changes in current FDIC practices for following up on significant violations of consumer compliance laws and regulations identified during examinations of banks for compliance with consumer protection and fair lending laws. |
- Complete a review of the effectiveness of the 2007 instructions issued on the handling of repeat instances of significant violations identified during compliance examinations.
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Achieved. |
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- An analysis is completed for all institutions on the prevalence and scope of repeat instances of significant violations from the previous compliance examination.
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Achieved. |
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- A determination is made regarding the need for changes to current FDIC and FFIEC guidance on follow-up supervisory action on significant violations identified during compliance examinations based on the substance and level of risk posed to consumers by these repeat violations.
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Achieved. |
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4. Scrutinize evolving consumer products, analyze their current or potential impact on consumers and identify potentially harmful or illegal practices. Promptly institute a supervisory response program across FDIC-supervised institutions when such practices are identified. |
- Revise the FDIC's system for identifying, reviewing, and addressing potentially harmful or illegal practices associated with evolving consumer products.
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Achieved. |
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- Develop and implement new supervisory response programs across all FDIC-supervised institutions to address potential risks posed by new consumer products.
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Achieved. |
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5. Provide effective outreach related to the CRA, fair lending, and community development. |
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- Conduct 125 technical assistance (examination support) efforts or banker/community outreach activities related to the CRA, fair lending, and community development.
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Achieved. |
Achieved. |
Achieved. |
- Release a "Young Adult" version of the Money Smart curriculum.
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Achieved. |
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- Distribute at least 10,000 copies of the "Young Adult" version of Money Smart.
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Achieved. |
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- Analysis of survey results is disseminated within six months of completion of the survey through regular publications, ad hoc reports and other means.
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Achieved. |
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- Provide technical assistance, support and consumer outreach activities in all six FDIC regions to at least eight local NeighborWorks® America affiliates or local coalitions that are providing foreclosure mitigation counseling in high need areas.
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Achieved. |
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- 200,000 additional individuals are taught using the Money Smart curriculum.
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Achieved. |
Achieved. |
- 120 school systems and government entities are contacted to make them aware of the availability of Money Smart as a tool to teach financial education to high school students.
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Achieved. |
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- A review of existing risk management and compliance/CRA examination guidelines and practices is completed to ensure that they encourage and support the efforts of insured financial institutions to foster economic inclusion, consistent with safe and sound banking practices.
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Achieved. |
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- A pilot project is conducted with banks near military installations to provide small—dollar loan alternatives to high-cost payday lending.
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Not Achieved. |
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- Strategies are developed and implemented to encourage FDIC-supervised institutions to offer small-denomination loan programs.
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Achieved. |
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- Research is conducted and findings disseminated on programs and strategies to encourage and promote broader economic inclusion within the nation's banking system.
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Achieved. |
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6. Continue to expand the FDIC's national leadership role in development and implementation of programs and strategies to encourage and promote broader economic inclusion within the nation's banking system. |
- Analyze quarterly data submitted by participating institutions to identify early trends and potential best practices.
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Achieved. |
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- Open 27,000 new bank accounts.
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Achieved. |
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- Initiate new small-dollar loan products in 32 financial institutions.
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Achieved. |
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- Initiate remittance products in 32 financial institutions.
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Achieved. |
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- Reach 18,000 consumers through financial education initiatives.
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Achieved. |
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7. Effectively investigate and respond to consumer complaints about FDIC-supervised financial institutions.
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- Responses are provided to 90 percent of written complaints and inquiries within time frames established by policy.
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Achieved. |
Achieved. |
Achieved. |