Annual Performance Goal |
Indicator |
Target |
Results |
- Respond promptly to financial institution closings and emerging issues.
|
Number of business days after institution failure by which depositors will have access to insured funds either through transfer of deposits to successor insured depository institution or depositor payout. |
If the failure occurs on a Friday, the target is one business day. |
Achieved. |
If the failure occurs on any other day of the week, the target is two business days. |
Achieved. |
- Identify and address risks to the insurance funds.
|
Assess risks posed by large insured depository institutions. |
Assess risks in 100 percent of large insured depository institutions and adopt appropriate strategies. |
Achieved. |
Identify and follow up on concerns referred for examination or other action (i.e., contact the insured institutions or primary supervisor). |
Identify and follow up on 100 percent of referrals. |
Achieved. |
Disseminate data and analyses on current issues and risks affecting the banking industry to bankers, supervisors, stakeholders, and the public. |
Analyses are included in regular publications or as ad hoc reports on a timely basis. |
Achieved. |
Conduct industry outreach aimed at the banking community and industry trade groups to discuss current trends and concerns and to inform bankers about available FDIC resources. |
Achieved. |
- Maintain sufficient
and reliable information on insured depository institutions.
|
Maintain and improve the Research
Information System (RIS), which serves as the foundation of most analysis
and statistical reporting for the FDIC. |
Update and expand data availability in RIS. |
Achieved. |
Develop a more efficient approach to bank
data collection and management. |
Determine Call Report Modernization system
development approach; prepare migration plan for the implementation of data
editing, storage and distribution facility for Call Report data; complete
reconciliation of bank structure databases; and implement standard business
rules and data definitions for Call Report information. |
Achieved. |
- Maintain and
improve the deposit insurance system.
|
Continue to pursue changes in
the deposit insurance system in accordance with proposals submitted to
Congress in 2002. |
Work with Congress to develop and pass a
reform package. |
Not Achieved. (see pages 12 & 13.) |
Develop final pricing recommendations and
implementation plans for inclusion in a notice-and-comment rulemaking during
2003. |
Achieved. |
If deposit insurance reform is passed,
implement legislation in a timely manner. |
Not Applicable |
Develop and analyze baseline data of
implemented modification results. |
Achieved. |
Continue to identify and review possible
modifications to the Risk-Related Premium System (RRPS). |
Assess improvements to the objective
screens for the RRPS that identify financial institutions engaging in
excessive risk taking, such as certain types of credit, market, and operational
risks. |
Achieved. |
Make appropriate changes to the
current methodology for projecting losses in failing financial institutions
and establishing related loss reserves for the deposit insurance funds. |
Review discrepancies between projected
failed assets and actual failed assets by applying sophisticated analytical
techniques to examine the effectiveness of the loss projection model and
adjust the methodology for projecting losses accordingly. |
Achieved. |
Perform comprehensive review of all aspects
of the reserving process and methodology and implement enhancements as
necessary. |
Achieved. |
Maintain fund adequacy. |
Set assessment rates to maintain the
insurance funds at or above the designated reserve ratio, or to return them
to the designated reserve ratio if they fall below it, as required by
statute. If deposit insurance reform legislation becomes law in 2003,
promulgate rules and regulations establishing criteria for replenishing the
deposit insurance fund when it falls below the low end of the range. |
Achieved. |
Conduct a study on the Future of Banking. |
Determine the implications of major trends
for the evolution of the industry, development of regulatory policy and
management of the deposit insurance funds. |
Achieved. |
Enhance FDICs ties to the academic
community and upgrade and provide greater visibility to the Corporations
research activities. |
Establish an FDIC Center for Financial
Research.
|
Achieved. |
- 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.
|
Enhance the existing Electronic Deposit
Insurance Estimator (EDIE) Banker version. |
Issue a new version of the EDIE (Banker
version) that accommodates corporate and organization accounts as well as
any changes to the deposit insurance rules that may be adopted. |
Achieved. |
Annual Performance Goal |
Indicator |
Target |
Results |
- Provide effective
outreach and technical assistance on topics related to CRA, fair lending,
and community development.
|
Additions to the Money Smart Alliance and
the number of Money Smart curricula provided. |
By December 31, 2003, cumulative totals of
400 Money Smart Alliance members and 40,000 Money Smart curricula provided. |
Achieved. |
Outreach activities and technical
assistance. |
Conduct or participate in 125 Money Smart
events, technical assistance efforts (examination support), or
banker/community outreach activities related to CRA, fair lending, or
community development. |
Achieved. |
- Effectively meet the statutory
mandate to investigate and respond to consumer complaints about
FDIC-supervised financial institutions.
|
Timely responses to written complaints. |
Ninety percent of written complaints are
responded to within time frames established by policy. |
Achieved. |
- Conduct comprehensive and
compliance-only examinations in accordance with FDIC examination frequency
policy.
|
Conduct required examinations in accordance
with FDIC policy. |
One hundred percent of required
examinations are conducted within time frames established by FDIC policy. |
Achieved. |
- Take prompt supervisory actions
and monitor all institutions rated 4 or 5 for compliance to address
problems identified during compliance examinations.
|
Timely follow-up examination and related
activity confirm whether the institution is in compliance with the
enforcement action. |
A follow-up examination or related activity
is conducted within 12 months from the date of a formal enforcement action. |
Achieved. |
Annual Performance Goal |
Indicator |
Target |
Results |
- Market failing
institutions to all known qualified and interested potential bidders.
|
List of qualified and
interested bidders. |
Contact all known qualified and
interested bidders. |
Achieved. |
- Value, manage, and
market assets of failed institutions and their subsidiaries in a timely
manner to maximize net return.
|
Failed institutions' assets
marketed. |
Eighty-five percent of book
value of a failed institutions marketable assets are marketed within 90
days of failure. |
Achieved. |
- Manage the
receivership estate and its subsidiaries toward an orderly termination.
|
Timely termination of new
receiverships. |
Terminate 75 percent of
receiverships managed through the Receivership Oversight Program within
three years of the failure date. |
Not Achieved. (see page 19.) |
- Conduct
investigations into all potential professional liability claim areas in all
failed insured depository institutions, and decide to close or pursue each
claim as promptly as possible, considering the size and complexity of the
institution.
|
Percentage of investigated
claim areas for which a decision has been made to close or pursue the claim
within 18 months after the failure date. |
For 80 percent of all claim
areas, a decision is made to close or pursue the claim. |
Achieved. |