2020 Annual Performance Plan

Insurance Program

One way the Federal Deposit Insurance Corporation (FDIC) maintains stability and public confidence in the U.S. financial system is by providing deposit insurance. Through its industry- and consumer-awareness programs, the FDIC seeks to increase public awareness and understanding of deposit insurance rules and coverage. The FDIC and other federal regulatory agencies ensure that insured depository institutions (IDIs) accurately disclose uninsured products. The FDIC also informs depositors and financial institution staff about how the insurance rules and limits apply to specific deposit accounts. As of December 31, 2019, the FDIC insured more than 600 million accounts with more than $7.7 trillion in depositor funds at more than 5,177 institutions across the nation.

Before a prospective IDI can open for business, it must apply to the FDIC for federal deposit insurance. The FDIC then evaluates an applicant’s potential risk to the Deposit Insurance Fund (DIF) by assessing the adequacy of its capital, future earnings potential, and the general character of its management. Before granting access to the federal deposit insurance system (the system), the FDIC also considers the needs of the community that the applicant plans to serve and obtains input from other regulatory authorities.

Communication and coordination with the other bank regulatory agencies are top priorities for the FDIC. As the insurer, the FDIC, by statute, has special (back-up) examination authority for all IDIs. If significant emerging risks or other serious concerns are identified for an IDI for which the FDIC is not the primary federal supervisor, the FDIC and the institution’s primary supervisor work together to address those risks or concerns.¹

When an IDI fails, the FDIC ensures that the institution’s customers have prompt access to their insured deposits and other services. To keep pace with the evolving banking industry and maintain its readiness to protect insured depositors, the FDIC prepares and maintains contingency plans to respond promptly to a variety of failure scenarios for IDIs.

The financial crisis of 2008–09 and ensuing recession resulted in a large number of depository institution failures and significant losses to the DIF. The number of problem banks peaked in 2010 and has been declining since 2011. The number of bank failures declined from a peak of 157 in 2010 to four in 2019. This trend has allowed the FDIC to rebuild the DIF. As of December 31, 2019, the fund balance had risen to $110.3 billion from a low of -$20.9 billion at the end of 2009. In addition, the reserve ratio (the fund balance as a percent of estimated insured deposits) had risen to 1.41 percent as of December 31, 2019, from 1.36 percent a year earlier.

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) revised the statutory authorities governing the FDIC’s management of the DIF. As a result of the changes mandated by the Dodd-Frank Act, the FDIC developed a comprehensive, long-term management plan for the DIF that sets a target reserve ratio of 2.0 percent and a strategy for establishing assessment rates and dividends to meet that target. The plan also aims to achieve moderate, steady assessment rates throughout economic and credit cycles to reduce pro-cyclicality, while maintaining a positive fund balance even during a banking crisis.

The Dodd-Frank Act also increased the minimum reserve ratio for the DIF from 1.15 percent to 1.35 percent, required that the reserve ratio reach that level by September 30, 2020, and mandated that banks with $10 billion or more in assets bear the responsibility of increasing the DIF reserve ratio from 1.15 percent to 1.35 percent.²    The comprehensive, long-term management plan for the DIF complements the revised Restoration Plan that was adopted in October 2010. The Restoration Plan was designed to ensure that the reserve ratio reached the statutory minimum ratio by the prescribed deadline. To achieve the minimum ratio, the FDIC imposed surcharges on large banks (generally those with $10 billion or more in assets).³ The reserve ratio exceeded 1.35 percent in 2018, at which time surcharges ceased.

In addition, small banks (generally those with less than $10 billion in assets) earned assessment credits to offset their contributions to growth in the reserve ratio from 1.15 percent to 1.35 percent. After the reserve ratio exceeded 1.35 percent in 2018, the FDIC calculated that small banks would receive $765 million in assessment credits. The FDIC began applying these small bank credits to offset quarterly deposit insurance assessments as of the second quarterly assessment period of 2019 (ending June 30, 2019), when the reserve ratio first reached or exceeded 1.38 percent. By year end 2019, approximately $559 million of the credits were applied, and the remaining credits are expected to be applied or refunded by the end of 2020.⁴

¹ An institution’s charter and its Federal Reserve System membership status determine which federal banking agency is the institution’s primary federal supervisor.
² Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. No. 111-203, § 334(d), 124 Stat. 1376, 1539 (2010) (codified at 12 U.S.C. § 1817(nt)).
³ See 81 Fed. Reg. 16069, 16066 (Mar. 25, 2016). Under a final rule approved by the FDIC Board in November 2019, the FDIC will continue to automatically apply credits to reduce banks’ quarterly assessments up to the entire amount of the assessment, as long as the reserve ratio is at least 1.35 percent, for up to four assessment periods. After applying the small bank credits for four assessment periods, the FDIC will remit the remaining balance of any small bank credits in lump-sum payments to each bank holding such credits. See 84 Fed. Reg. 65269.
⁴ The FDIC applied $320 million in credits to the second quarter 2019 assessment invoices (with payment due on September 30, 2019) and applied $239 million in credits to the third quarter 2019 assessment invoices (with payment due on December 30, 2019).

The table below depicts the strategic goal, strategic objectives, and annual performance goals for the Insurance Program.

STRATEGIC GOAL 1:
Insured depositors are protected from loss without recourse to taxpayer funding.

STRATEGIC OBJECTIVE 1.1

Customers of failed IDIs have timely access to insured funds and financial services.

Annual Performance Goal 1.1-1

Respond promptly to all IDI closings and related emerging issues.

Indicators and Targets

1. Number of business days after an institution failure that depositors first have access to insured funds
• Depositors have access to insured funds within one business day if the failure occurs on a Friday.
• Depositors have access to insured funds within two business days if the failure occurs on any other day of the week.
2. Insured depositor losses resulting from a financial institution failure
• Depositors do not incur any losses on insured deposits.
• No appropriated funds are required to pay insured depositors.

Means and Strategies

Operational Processes (initiatives and strategies): When an IDI is identified as a potential failure, the FDIC develops an operational plan to handle the resolution of the institution. The resolution process begins with an assessment of the institution’s assets and liabilities. An information package is prepared as a marketing tool for qualified institutions that are interested in acquiring the failing institution. After conducting due diligence, institutions submit bids that are evaluated and compared to the cost of liquidation to determine the least costly resolution.

If the federal or state chartering authority chooses to close the institution, the FDIC is named receiver, allowing it to take control of the failed institution and, if necessary, determine which deposits are insured.

If a buyer is found, the FDIC works with the assuming institution to transfer purchased assets along with either all deposits or only insured deposits as quickly as possible. If a buyer is not found during the resolution process, insured balances are disbursed directly to depositors of the failed institution and all the assets remain in the receivership. In either case, the insured depositors are provided access to their accounts within one or two business days.

As banking industry practices and technologies evolve, so do potential risks that might affect the resolution process. The FDIC continues to review and enhance its existing plans, processes, and systems in response to those changes and potential risks.

Human Resources (staffing and training):  For 2020, the FDIC’s Division of Resolutions and Receiverships has authorized staffing of 350 permanent employees dedicated to handling the failure of IDIs and the management of ensuing receiverships. There are still a large number of open receiverships resulting from previous failures. The FDIC expects to be able to fully manage the residual receivership management workload and open receiverships with its permanent staff.

Information Technology:  Technology is critical to making deposit insurance determinations and payments efficiently. The FDIC uses the Claims Administration System (CAS) to identify depositors’ insured and uninsured funds in failing and failed banks. For every failing bank, CAS is used prior to failure to estimate the amount of uninsured deposits for the least-cost test. When an insured deposit transaction or a payout is the least costly resolution, CAS is used to determine the amount of insured deposits. For all failures, CAS is the system of record for the deposits of the failed bank and subsequent claims processing and tracking.

Verification and Validation

If insured deposits are transferred to a successor institution, the number of business days before depositors have access to their insured funds is verified by comparing the date of failure to the date that the successor IDI opens for business and makes insured funds available to the failed institution’s depositors. For a deposit payout, the measure of the number of business days to funds availability is verified by comparing the date of failure with the date that deposit insurance checks are mailed to depositors.

2019 Performance Results

The FDIC successfully met the performance targets for this annual performance goal for each of the four insured institution failures that occurred in 2019. This annual performance goal and its associated performance indicators and targets are substantively unchanged for 2020.

STRATEGIC OBJECTIVE 1.2

The FDIC promptly identifies and responds to potential risks to the DIF.

Annual Performance Goal 1.2-1

Disseminate data and analyses on issues and risks affecting the financial services industry to bankers, supervisors, the public, and other stakeholders on an ongoing basis.

Indicator and Targets

1. Scope and timeliness of information dissemination on identified or potential issues and risks
• Disseminate results of research and analyses in a timely manner through regular publications, ad hoc reports, and other means.
• Undertake industry outreach activities to inform bankers and other stakeholders about current trends, concerns, available resources, and FDIC performance metrics.

Means and Strategies

Operational Processes (initiatives and strategies):  The FDIC maintains a vigorous research and publications program that focuses on issues and topics of importance to the banking industry. Much of this research is conducted in collaboration with the academic community through the Center for Financial Research (CFR). Research findings are disseminated through meetings of the Advisory Committee on Community Banking (CBAC) and the Advisory Committee on Economic Inclusion (ComE-IN), CFR Working Papers, articles in professional journals, and presentations at conferences and other events. The FDIC also disseminates information and analyses on industry risks through periodic reports and publications (e.g., the FDIC Quarterly Banking Profile, the FDIC Quarterly, and Risk Reviews), Financial Institution Letters, participation in industry events, and other outreach activities.

The FDIC conducts outreach sessions several times each year throughout the country. In addition, FDIC employees regularly attend conferences and meet with industry analysts and trade groups to exchange views and analyses. FDIC employees also present Directors’ College outreach sessions to local bank board members. During these sessions, FDIC employees share information with bank directors on current risks, new regulations, and emerging issues. Local FDIC offices nationwide also conduct banker roundtable events that provide a forum for bankers to receive information and raise questions about new regulatory guidance or emerging risks. The FDIC’s “Trust through Transparency” initiative further enhances the FDIC’s foundation of public trust and accountability by ensuring open and direct communication in major FDIC business areas. The FDIC will continue to identify opportunities to provide information and increase data access to strengthen trust among consumers, financial institutions, and the FDIC.

Human Resources (staffing and training): The FDIC employs economists, financial analysts, and other staff members who monitor risks within the banking industry and communicate those risks to FDIC management, other regulators, the industry, the public, and other stakeholders through a variety of media and forums.

The risk analysis program and risk-focused examination training has been incorporated into the FDIC’s examination schools.

In addition, the FDIC uses examiners and other staff located throughout the country to conduct banker outreach sessions as a collateral duty.

Information Technology: The FDIC’s public website (www.fdic.gov) is a centralized source for FDIC research and analysis on potential areas of risk that is available to the industry, the public, and other regulators. Databases and reports provide comprehensive financial and structural information about every FDIC-insured institution. The data are provided in multiple formats, including eXtensible Business Reporting Language (XBRL), to provide access to financial institution information for all users of the data, including financial institutions, bank regulators, and the public. As part of the “Trust through Transparency” initiative, the FDIC will publish performance metrics, such as turnaround times for examinations and bank charter applications, call center usage and response times, and data on the status of supervisory and assessment appeals. This data will be available on the FDIC’s Transparency and Accountability webpage (https://www.fdic.gov/transparency/).

Verification and Validation

Timely analyses of banking industry risks are included in regular publications or issued as ad hoc reports. Industry outreach activities aimed at the banking community and industry trade groups promote discussion of current trends and concerns and inform bankers about available FDIC resources. Publications and outreach events are documented through established management reporting processes.

2019 Performance Results

The FDIC successfully met the performance targets for this annual performance goal in 2019. This annual performance goal and its associated performance indicator and targets are unchanged for 2020.

STRATEGIC OBJECTIVE 1.3    

The DIF and system remain strong and adequately financed.

Annual Performance Goal 1.3-1

Monitor the status of the DIF reserve ratio and analyze the factors that affect fund growth. Adjust assessment rates, as necessary.

Indicator and Targets

1. Updated fund balance projections and recommended changes to assessment rates, as necessary
• Provide updated fund balance projections to the FDIC Board of Directors semiannually.
• Recommend changes to deposit insurance assessment rates to the FDIC Board of Directors, as necessary.

Means and Strategies

Operational Processes (initiatives and strategies): The FDIC has a Financial Risk Committee (FRC) that recommends to the Chief Financial Officer a DIF contingent loss reserve for anticipated failures of open banks. The FRC regularly reviews adverse events to identify lessons or implications for monitoring and addressing risks in these banks and consults with the other federal banking agencies in its deliberations. The FDIC also maintains and, as necessary, enhances models that forecast failures, failure resolution costs, assessment revenue, investment revenue, operating expenses, and insured deposit growth in order to update the outlook for the insurance fund balance and reserve ratio. In addition, it continues to enhance the techniques and methodologies used to analyze the nature of risk exposure, including scenario analysis and stress testing.

Human Resources (staffing and training): FDIC staff perform the analytical work associated with deposit insurance pricing and analysis of fund adequacy. The FDIC will continue to expand its ties to the academic community to broaden the information and analytical perspectives available to it as steward of the DIF.

Information Technology: The Risk-Related Premium System (RRPS) calculates the premiums that financial institutions are assessed for deposit insurance. RRPS is updated and tested when the insurance assessment pricing structure changes.

Verification and Validation

Pursuant to the Federal Information Security Management Act, a security review of RRPS is conducted annually to ensure that the system identifies higher-risk institutions and appropriately assesses higher insurance premiums. In addition, the Government Accountability Office reviews annually the methodology used to determine the contingent loss reserve.

In 2020, the FRC will again conduct semiannual reviews of the contingent loss reserve methodology by analyzing the difference between projected and actual losses. In addition, FDIC staff will provide updates semiannually to the FDIC Board of Directors on the status of the DIF.

2019 Performance Results

The FDIC successfully met the performance targets for this annual performance goal in 2019. This annual performance goal and its associated performance indicator and targets are unchanged for 2020.

Annual Performance Goal 1.3-2

Expand and strengthen the FDIC’s participation and leadership role in supporting robust and effective deposit insurance programs, resolution strategies, and banking systems worldwide.

Indicators and Targets

1. Activities to expand and strengthen engagement with strategically important foreign jurisdictions and key international organizations and associations, and to advance the FDIC’s global leadership and participation on deposit insurance, institution supervision, resolution practices, and international financial safety net issues
• Foster strong relationships with international banking regulators, deposit insurers, and other relevant authorities by engaging with strategically important jurisdictions and organizations on international financial safety net issues.
• Provide leadership and expertise to key international organizations and associations that promote sound deposit insurance and effective bank supervision and resolution practices.
2. Provision of technical assistance and training to foreign counterparts
• Promote international standards and expertise in financial regulatory practices and stability through the provision of technical assistance and training to global financial system authorities.

Means and Strategies

Operational Processes (initiatives and strategies): As a recognized global leader in providing sound deposit insurance, depository institution supervision, and bank resolution practices, the FDIC provides technical guidance, training, consulting services, and information to governmental banking, deposit insurance, and resolutions organizations around the world. This is achieved, in part, through the FDIC’s relationships with international financial institutions and regulatory agencies, and its leadership roles and participation in the International Association of Deposit Insurers (IADI), the Financial Stability Board (FSB), and the Association of Supervisors of Banks of the Americas (ASBA).

The Director of the FDIC’s Division of Insurance and Research serves on IADI’s Executive Council and the Core Principles Research Council Committee. In addition, the Director chairs the Training and Technical Assistance Council Committee and the Financial Technology Technical Committee. The FDIC also chairs IADI’s Training and Conference Technical Committee, leading the association’s efforts to promote best practices in deposit insurance through the application of IADI Core Principles for Effective Deposit Insurance Systems (Core Principles). The FDIC also chairs the Training and Technical Committee of ASBA. In 2020, the FDIC will continue to support the governance, training, and other activities of the IADI, FSB, and ASBA.

In addition, the FDIC will engage bilaterally and multilaterally in 2020 with authorities in strategically important foreign jurisdictions to further develop resolution strategies for global systemically important financial institutions (G-SIFIs) that are chartered or have a substantial presence in the U.S.

This includes, among other things, participation in the FDIC-European Commission working group; close work with the Bank of England’s Resolution Directorate and the Single Resolution Board; tabletop exercises, principal-level events, and joint papers; hosting of foreign delegations; and support for missions to foreign authorities. The FDIC also will convene Crisis Management Groups (CMGs) for G-SIFIs based in the United States, attend CMGs for non-U.S. G-SIFIs with significant U.S. operations, and participate in activities intended to implement the Key Attributes of Effective Resolution Regimes for Financial Institutions (Key Attributes) from a U.S. perspective. The Key Attributes, endorsed by the Group of Twenty (G-20) in 2011, set out the core elements necessary for an effective resolution regime, including the ability to manage the failure of a G-SIFI in a way that minimizes systemic disruption and avoids exposing taxpayers to the risk of loss. The FDIC will continue its work with the FSB to develop an assessment methodology for the Key Attributes.

The FDIC also will support visits and technical assistance for foreign counterparts that strengthen financial institution supervision and regulation and promote the adoption of sound deposit insurance and resolution frameworks. The FDIC will continue to promote the adoption of sound supervisory principles and practices in the Americas by providing subject matter experts as instructors for ASBA-sponsored training and ASBA-led research and guidance initiatives.

The FDIC will participate with the International Monetary Fund and World Bank in their Financial Sector Assessment Program (FSAP), Reports on the Observance of Standards and Codes, and Technical Assistance by making available subject matter experts for deposit insurance program reviews and resolution-related matters. The FDIC will review any proposed recommendations included in the FSAP Technical Note and provide written responses to address non-policy based recommendations.

Human Resources (staffing and training): Available resources include FDIC staff dedicated to promoting the adoption of sound bank supervision, resolution, and deposit insurance principles and coordinating the FDIC’s global outreach and technical assistance programs supplemented by subject matter experts within the FDIC. In 2020, training will expand the FDIC’s staff expertise in evaluating the compliance of deposit insurance systems with IADI’s Core Principles. Staff from divisions and offices throughout the FDIC regularly coordinate and collaborate on major international activities and outreach in order to advance the FDIC’s international agenda.

Information Technology: Information about the FDIC’s international programs, such as technical assistance, foreign visitor, and international leadership development programs, as well as associations with international bodies including IADI, ASBA, and the European Forum of Deposit Insurers, is communicated through the FDIC’s public website (www.fdic.gov).

Verification and Validation

Progress in meeting this annual goal is reported through established management reporting processes. Quarterly reports document trends in the number of foreign visitors, foreign officials trained, technical assistance missions, and FDIC participation and leadership in key international organizations.

2019 Performance Results

The FDIC successfully met the performance targets for this goal in 2019. This annual performance goal and its associated performance indicators and targets are unchanged for 2020.

Annual Performance Goal 1.3-3

Ensure timely consideration and efficient processing of de novo deposit insurance applications.

Indicator and Target

1. Timeliness of review and disposition of deposit insurance applications
• Act on 75 percent of deposit insurance applications within 120 days after receiving a substantially complete application.

Means and Strategies

Operational Processes (initiatives and strategies):   As the sole agency with authority to grant deposit insurance, the FDIC seeks to ensure its application processes and review requirements are clear and efficient. In 2019, the FDIC held roundtable meetings to gather feedback on its application process and provide technical guidance, reviewed comments received in response to a request for information on ways that the application process could be improved, and updated its application processes and guidance.

Human Resources (staffing and training): Available resources include application subject matter experts in each regional office and at headquarters, as well as periodic training for all regional case managers who evaluate and process applications for deposit insurance.

Information Technology: Information about the FDIC’s de novo application processes, pending applications, actions taken, and average processing timeframes is communicated through the FDIC’s public website (www.fdic.gov).

Verification and Validation

Progress in meeting this goal will be reported through established management reporting processes.

2019 Performance Results

The FDIC successfully met the performance targets for this goal in 2019. The annual performance goal is unchanged from 2019, but the associated performance indicator and target are new for 2020.

STRATEGIC OBJECTIVE 1.4

The FDIC resolves failed IDIs in the manner least-costly to the DIF.

Annual Performance Goal 1.4-1

Market failing institutions to all known qualified and interested potential bidders.

Indicator and Target

1. Scope of qualified and interested bidders solicited
• Contact all qualified and interested bidders.

Means and Strategies

Operational Processes (initiatives and strategies): The FDIC markets the deposits and assets of failing institutions to all qualified and interested potential bidders to encourage as much competition as possible. An inventory is maintained of qualified financial institutions that may be interested in bidding for a failing institution. When preparing a list of potential bidders for a failing institution, consideration is given to the institution’s geographic location, competitive environment, minority-owned status, financial condition, asset size, capital level, and regulatory ratings. Potential bidders are then given the opportunity to perform due diligence on the failing institution’s assets and liabilities before determining whether to submit bids.

Human Resources (staffing and training): Franchise marketing is carried out primarily by existing FDIC personnel. Staffing requirements are continually assessed within the context of current and projected workload to ensure that the FDIC is appropriately staffed.

The FDIC may utilize contractor support, nonpermanent employees, and employees temporarily assigned from other divisions to meet heightened workload demands and mission responsibilities in this area.

Information Technology: The FDIC documents franchise marketing activities for failing IDIs through the Franchise Marketing System (FMS). FMS provides a comprehensive source of information on all aspects of the marketing and sale of failing IDIs, including bid list criteria for each prospective transaction and the list of qualified potential bidders. In addition to other data, FMS contains information on the valuation, marketing strategies, and sale of assets to an acquirer at the time of resolution.

Verification and Validation

Progress in meeting this annual performance goal is tracked in FMS and reported through established management reporting processes. Each primary federal regulatory agency reviews bid lists before bids are solicited to ensure that only those institutions that meet the established criteria for the transaction are included.

2019 Performance Results

The FDIC successfully met the performance target for this annual performance goal for each of the four IDI failures that occurred in 2019. This annual performance goal and its associated performance indicator and target are substantively unchanged for 2020.

STRATEGIC OBJECTIVE 1.5    

The public and FDIC-insured depository institutions have access to accurate and easily understood information about federal deposit insurance coverage.

Annual Performance Goal 1.5-1

Provide educational information to IDIs and their customers to help them understand the rules for determining the amount of insurance coverage on deposit accounts.

Indicators and Targets

1. Timeliness of responses to deposit insurance coverage inquiries
• Respond within two weeks to 95 percent of written inquiries from consumers and bankers about FDIC deposit insurance coverage.
2. Initiatives to increase public awareness of deposit insurance coverage changes
• Conduct at least four telephone or in-person seminars for bankers on deposit insurance coverage.

Means and Strategies

Operational Processes (initiatives and strategies):  The FDIC uses various methods to educate IDI employees and depositors about deposit insurance coverage. In addition to conducting seminars for bank employees, the FDIC encourages the dissemination of educational information through the banking industry and the media.

The FDIC also:

• Operates a toll-free call center (877-ASK-FDIC) to answer questions about FDIC deposit insurance coverage. The call center is staffed by contractors who are trained to provide answers to many different questions about deposit insurance coverage. Complex or unique issues, or those requiring additional analysis and review, are referred by the call center to FDIC employees who specialize in deposit insurance issues and who can research the issue and respond.
• Maintains educational and informational resources on its website.
• Publishes articles on deposit insurance coverage in FDIC Consumer News (a monthly newsletter for consumers published by the FDIC).
• Works to raise awareness of deposit insurance coverage through the national and regional news media.

In addition, the FDIC administers a public education program that includes developing and distributing a wide range of written materials, videos, electronic calculators, and other tools to help consumers and bank employees understand how deposit insurance works. The FDIC also provides training to employees of IDIs.

Human Resources (staffing and training): The FDIC has a dedicated staff of specialists and contractors who respond to thousands of telephone and written inquiries from consumers and bankers about deposit insurance coverage. The call center is also supported by a dedicated staff of subject matter experts on deposit insurance issues.

The FDIC regularly reviews staffing and training needs to ensure that the resources supporting deposit insurance educational initiatives are adequate and that employees possess the skills and knowledge to implement this program effectively and successfully.

Information Technology: The FDIC tracks the receipt of and response to written inquiries through the Enterprise Public Inquiry and Complaint System (EPIC). The FDIC also provides the Electronic Deposit Insurance Estimator (EDIE), which consumers and bankers can use to estimate deposit insurance coverage, on its public website. The FDIC continues to use the internet and the latest multimedia technology to deliver educational tools and materials to the banking community and the public.

Verification and Validation

Progress in meeting the performance targets for this goal will be tracked through EPIC and established management reporting processes.

2019 Performance Results

The FDIC successfully met the performance targets for this annual performance goal in 2019. This annual performance goal and its associated performance indicators and targets are unchanged for 2020.