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2005 Annual Report

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Federal Deposit Insurance Corporation
550 17th St. N.W. Washington, DC 20429
Office of the Chairman 


March 2, 2006


Sirs,

In accordance with:

  • the provisions of section 17(a) of the Federal Deposit Insurance Act,
  • the Chief Financial Officers Act of 1990, Public Law 101-576,
  • the Government Performance and Results Act of 1993,
  • the provisions of Section 5 (as amended) of the Inspector General Act of 1978,
    and
  • the Reports Consolidation Act of 2000,

the Federal Deposit Insurance Corporation is pleased to submit its 2005
Annual Report (also referred to as the Performance and Accountability
Report), which includes the audited financial statements of the Bank Insurance
Fund, the Savings Association Insurance Fund, and the Federal Savings
and Loan Insurance Corporation Resolution Fund.

In accordance with the Reports Consolidation Act of 2000, the FDIC completed
an assessment of the reliability of the performance data contained in this report.
No material inadequacies were found and the data are considered to be complete
and reliable.

Based on internal management evaluations, and in conjunction with the results
of independent financial statement audits, the FDIC can provide reasonable
assurance that the objectives of Section 2 (internal controls) and Section 4
(financial management systems) of the Federal Managers' Financial Integrity
Act of 1982 have been achieved, and the FDIC has no material weaknesses.
The Government Accountability Office did, however, identify a number of
information technology issues that aggregate to a reportable condition. All
such issues will receive appropriate attention during 2006.

Sincerely,

Martin J. Gruenberg signature
Martin J. Gruenberg
Acting Chairman


The President of the United States
The President of the United States Senate
The Speaker of the United States House of Representatives




Last Updated 03/06/2006 communications@fdic.gov