| Annual Goal |
2001 Results |
2002 Results |
2003 Results |
2004 Results |
| Effectively respond to written complaints and inquiries related to deposit insurance and consumer protection laws. |
FDIC sent 612 survey cards to consumers and bankers who contacted the Washington Office concerning inquiries and complaints. Eighty-four (14 percent) of the cards were returned to the FDIC. Sixty-two percent of the responses rated the FDIC as "excellent" in timeliness of response. |
Annual goal revised (see below). |
Annual goal revised (see below). |
Annual goal revised (see below). |
| Effectively meet the statutory mandate to investigate and respond to consumer complaints about FDIC-supervised financial institutions. (Revised – 2002) |
The 2001 annual performance goal was not compatible to the current annual goal. |
FDIC received 8,368 consumer complaints and closed 95 percent of them. Of the complaints closed, 94 percent were closed within policy time frames. |
FDIC received 8,010 consumer complaints and closed 99 percent of them. Of the complaints closed, 94 percent were closed within policy time frames. |
FDIC received 8,742 consumer complaints, closing 95 percent of them. Of the closed complaints, 95 percent were closed within policy time frames. |
| Annual Goal |
2001 Results |
2002 Results |
2003 Results |
2004 Results |
| Value, manage and market assets of the failed institutions and their subsidiaries in a timely manner to maximize net return. |
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. |
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. |
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. |
Five financial institutions reached their 90-day threshold during 2004. One hundred percent of all marketable assets were marketed within the 90-day time frame. |
| Annual Goal |
2001 Results |
2002 Results |
2003 Results |
2004 Results |
| Market to all known qualified and interested potential assuming institutions. |
There were four failures in 2001. One hundred percent of the qualified potential bidders were contacted. |
There were 11 failures in 2002. One hundred percent of the qualified potential bidders were contacted. |
There were three failures in 2003. One hundred percent of the qualified bidders were contacted. |
There were four failures in 2004. One hundred percent of the qualified bidders were contacted for the sale of three failed institutions. One failed institution was not offered for sale. |
| 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. |
Five of nine institutions that reached the 18-month milestone had 100 percent of professional liability investigations completed. |
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. |
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. |
All five institutions that reached the 18-month milestone during 2004 had 100 percent of professional liability investigations completed, meeting the goal of 80 percent. |
| Manage the receivership estate and its subsidiaries toward an orderly termination. (Revised – 2001) |
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. |
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. |
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. |
For the four failures that occurred during 2001 that matured in 2004, the FDIC terminated three receiverships, meeting the target to terminate 75 percent within three years of failure date. |
