III. Performance Results Summary
Insurance Program Results Strategic Goal:
Insured depositors are protected from loss without recourse to taxpayer funding. |
1. Respond promptly to all financial institution closings and emerging issues. |
- Provide access to insured funds in one business day if the failure occurs on a Friday.
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Achieved. |
Not Applicable. No Failures. |
Not Applicable. No Failures. |
- Provide access to insured funds in two business days if the failure occurs on any other day of the week.
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Achieved. |
Not Applicable. No Failures. |
Not Applicable. No Failures. |
- Review comments received in response to the Advance Notice of Proposed Rulemaking on Large-Bank Deposit Insurance Determination Modernization.
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Achieved. |
Achieved. |
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2. Identify and address risks to the Deposit Insurance Fund. |
- Assess the insurance risks in 100 percent of insured depository institutions and adopt appropriate strategies.
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Achieved. |
Achieved. |
Achieved. |
- Identify and follow up on 100 percent of material issues raised through off-site review and analysis.
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Achieved. |
Achieved. |
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- Identify and review the emerging areas of risk, including mortgage lending, hedge funds, commercial real estate lending, derivatives, money laundering, illicit financial transactions and the international operations of insured depository institutions.
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Achieved. |
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- Address potential risks from cross-border banking instability through coordinated review of critical issues and, where appropriate, agreements with key authorities.
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Achieved. |
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- Identify and follow up on 100 percent of referrals.
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Achieved. |
3. Maintain sufficient and reliable information on insured depository institutions. |
- Implement a modernized Call Reporting process during the second Call Reporting period in 2005.
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Not Achieved. |
4. Disseminate data and analyses on issues and risks affecting the financial services industry to bankers, supervisors, the public and other stakeholders. |
- Results of research and analyses are disseminated in a timely manner through regular publications, ad hoc reports and other means.
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Achieved. |
Achieved. |
Achieved. |
- Industry outreach activities are undertaken to inform bankers and other stakeholders about current trends, concerns and other available FDIC resources.
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Achieved. |
Achieved. |
Achieved. |
5. Maintain and improve the deposit insurance system. |
- Implement the new deposit insurance pricing system.
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Achieved. |
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- Complete and issue guidance on the pricing of deposit insurance for large banks.
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Achieved. |
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|
- Publish an ANPR seeking comment on a permanent dividend system.
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Achieved. |
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- Develop and implement an assessment credit and dividends system and a new deposit insurance pricing system.
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Achieved. |
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- Implement deposit insurance reform legislation in accordance with statutorily prescribed time frames.
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Achieved. |
Not Applicable. Legislation enacted Feb. 8, 2006. |
- Provide information and analysis to Congressional committees in support of deposit insurance reform legislation.
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Achieved. |
- Obtain legislative support for a proposed assessment credit and rebate system and a new deposit insurance pricing system.
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Achieved. |
- Enhance the effectiveness of the reserving methodology by applying sophisticated analytical techniques to review variances between projected losses and actual losses, and by adjusting the methodology accordingly.
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Achieved. |
Achieved. |
Achieved. |
- Set assessment rates to maintain the insurance fund reserve ratio between 1.15 and 1.50 percent of estimated insured deposits.
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Achieved. |
Achieved. |
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- Set assessment rates to maintain the insurance funds at the designated reserve ratio (DRR), or return them to the DRR if they fall below it, as required by statute.
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Achieved. |
- When deposit insurance reform legislation is enacted, promulgate rules and regulations establishing criteria for replenishing the Deposit Insurance Fund when it falls below the low end of the range.
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Not Applicable.
Legislation enacted Feb. 8, 2006. |
- Enhance the working prototype of the integrated fund model for financial risk management.
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Achieved. |
6. 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. |
- Publish a comprehensive and authoritative resource guide for bankers, attorneys, financial advisors and similar professionals on the FDIC’s rules and requirements for deposit insurance coverage of revocable and irrevocable trust accounts.
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Achieved. |
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- Conduct a series of national teleconferences for insured financial institutions to address current questions and issues relating to FDIC insurance coverage of deposit accounts.
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Achieved. |
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- Update Insuring Your Deposits (basic deposit insurance brochure for consumers), Your Insured Deposit (comprehensive deposit insurance brochure), and EDIE (Electronic Deposit Insurance Estimator) on the FDIC Web site to reflect changes resulting from enactment of deposit insurance legislation.
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Achieved. |
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- Update the consumer version of EDIE (Electronic Deposit Insurance Estimator) located on the FDIC’s Web site.
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Achieved. |
- Develop and make available to the public an updated Spanish language version of EDIE reflecting deposit insurance reform.
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Achieved. |
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- Develop and make available to the public a Spanish language version of the FDIC’s 30-minute video on deposit insurance coverage.
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Achieved. |
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- Respond to 90 percent of inquiries from consumers and bankers about FDIC deposit insurance coverage within time frames established by policy.
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Achieved. |
Achieved. |
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- Respond to 90 percent of written inquiries within time frames established by policy.
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Achieved. |
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7. Expand and strengthen the FDIC’s leadership role in providing technical guidance, training, consulting services and information to international governmental banking and deposit insurance organizations. |
- Undertake global outreach activities to inform and train foreign bank regulators and deposit insurers.
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Achieved. |
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- Foster strong relationships with international banking regulators and associations that promote sound banking policies in order to provide leadership and guidance in global banking supervision and regulations, failure resolution and deposit insurance.
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Achieved. |
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