II. 2003 Performance Results Summary - Multi-Year Performance Trend
Annual Goal |
Market 80 percent of a failed institutions assets to franchise and
nonfranchise investors within 90 days of resolution. |
2000 Results |
Ninety-five percent
of failed institutions assets were marketed within 90 days, thus exceeding
the target of 80 percent. |
2001 Results |
Annual goal revised
(see below). |
2002 Results |
Annual goal revised
(see below). |
2003 Results |
Annual goal revised
(see below). |
2004 Goal |
Annual goal revised
(see below). |
|
Annual Goal |
Value, manage, and market assets of the failed institutions and their
subsidiaries in a timely manner to maximize net return.
(Revised - 2001) |
2000 Results |
Annual goal was not
established in 2000. |
2001 Results |
For three
institutions that failed, the FDIC marketed 100 percent of the marketable
assets. The remaining institution was placed into conservatorship. Loan
pools, servicing operations, and residuals that totaled in excess of the 80
percent target were marketed within the 90-day time frame. |
2002 Results |
For all 11
institutions that failed, at least 87 percent of all marketable assets were
marketed within the 90-day time frame, thus exceeding the target of 85
percent. |
2003 Results |
For all three
institutions that failed, at least 98 percent of all marketable assets were
marketed within the 90-day time frame, thus exceeding the target of 85
percent. |
2004 Goal |
Value, manage, and
market assets of the failed institutions and their subsidiaries in a timely
manner to maximize net return. |
Annual Goal |
Market to all known qualified and interested potential assuming
institutions. |
2000 Results |
There were seven
failures in 2000. One hundred percent of the qualified potential bidders
were contacted. |
2001 Results |
There were four
failures in 2001. One hundred percent of the qualified potential bidders
were contacted. |
2002 Results |
There were 11
failures in 2002. One hundred percent of the qualified potential bidders
were contacted. |
2003 Results |
There were three
failures in 2003. One hundred percent of the qualified bidders were
contacted. |
2004 Goal |
Market to all known
qualified and interested potential assuming institutions. |
Professional
Liability Claims |
Annual Goal |
Investigations are conducted into all potential professional liability claim
areas in all failed insured depository institutions and a decision to close
or pursue each claim will be made within 18 months after the failure date in
80 percent of all investigations. |
2000 Results |
A decision to close
or pursue each claim was made within 18 months after the failure date for
100 percent of all investigations. |
2001 Results |
Annual goal revised
(see below). |
2002 Results |
Annual goal revised
(see below). |
2003 Results |
Annual goal revised
(see below). |
2004 Goal |
Annual goal revised
(see below). |
|
Annual Goal |
Conduct investigations into all potential professional liability claim areas
in all failed insured depository institutions. Decide to close or pursue
each claim as promptly as possible, considering the size and complexity of
the institution.
(Revised 2001) |
2000 Results |
Annual goal was not
established in 2000. |
2001 Results |
Five of nine
institutions that reached the 18-month milestone had 100 percent of
professional liability investigations completed. |
2002 Results |
Two of six
institutions that reached the 18-month milestone during 2002 had 100 percent
of professional liability investigations completed. The other four
institutions had at least 80 percent of professional liability
investigations completed, meeting the goal of 80 percent. |
2003 Results |
Four of ten
institutions that reached the 18-month milestone during 2003 had 100 percent
of professional liability investigations completed. The other six
institutions had at least 80 percent of professional liability
investigations completed, meeting the goal of 80 percent. |
2004 Goal |
Conduct
investigations of all potential professional liability claim areas in all
failed insured depository institutions. Decide to close or pursue each claim
as promptly as possible, considering the size and complexity of the
institution. |
Receivership
Terminations |
Annual Goal |
Achieve a 35 percent reduction in the number of active receiverships in
2000. |
2000 Results |
One hundred fifty-six
receiverships were terminated, thus achieving the goal of 156. |
2001 Results |
Annual goal revised
(see below). |
2002 Results |
Annual goal revised
(see below). |
2003 Results |
Annual goal revised
(see below). |
2004 Goal |
Annual goal revised
(see below). |
|
Annual Goal |
Manage the receivership estate and its subsidiaries toward an orderly
termination.
(Revised 2001) |
2000 Results |
Annual goal was not
established in 2000. |
2001 Results |
Fifty-two out of the
76 targeted receiverships were terminated in 2001. In mid-2001, the target
of 76 terminations was revised to 36. The pace of termination was slowed by
impediments that represented material financial or legal risks to the FDIC. |
2002 Results |
For the eight
failures from 1999 that matured in 2002, the FDIC terminated six
receiverships, meeting the target to terminate 75 percent within three years
of failure. |
2003 Results |
For the seven
failures that occurred during 2000 that matured in 2003, the FDIC terminated
four receiverships, below the target to terminate 75 percent within three
years of failure. |
2004 Goal |
Manage the
receivership estate and its subsidiaries toward an orderly termination. |
|