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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

FDIC Governance - Statement of FDIC Corporate Governance for Supervisory Matters

I. LEGAL FRAMEWORK

By Statute, Management of the FDIC is Vested in the FDIC Board: The Federal Deposit Insurance Act (FDI Act) vests responsibility for management of the FDIC in its 5-member Board of Directors (Board).1

The Board Has Adopted Bylaws2 Reiterating that Management of the FDIC is Vested in the Board. Specifically:

Article IV, Section 5 of the Bylaws (entitled, "Powers of the Board of Directors") states that:

II. DELEGATIONS OF THE FDIC BOARD'S AUTHORITIES

The Board Has Delegated Day-to-Day Management of the FDIC to the FDIC Chairman

Article VI, Section 4(a) of the Bylaws delegates to the FDIC Chairman:

The FDIC's Bylaws Allow the Board to Delegate its Powers to Special and Standing Committees of the Board or to Officers and Agents of the FDIC

The FDIC Board has Established Standing Committees to Carry out Certain Delegated Functions

FDIC Board Delegation to the Supervision Appeals Review Committee (SARC) for an Independent Review of Appeals by Banks of Material Supervisory Determinations made by FDIC Examiners and Other Staff:

FDIC Board Delegation to the Case Review Committee for Review and Approval of Certain Administrative Enforcement Actions:

Through the FDIC's Bylaws, the FDIC Board Has Described the Specific Powers and Duties of the Director of RMS to Include the Exercise of General Supervision and Control over the Depository Institution Risk Management Supervision and Examination Functions of the FDIC, and the Director of DCP to Include the Exercise of General Supervision and Control over the FDIC's Programs for Promoting Compliance with Consumer Protection and Related Laws and the FDIC's Compliance Examination Program

III. RESERVATION OF THE FDIC BOARD’S DELEGATED AUTHORITY WITH RESPECT TO MAJOR MATTERS

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