The FDIC successfully achieved 43 of the 45 annual performance targets established in its 2012 Annual Performance Plan. Two targets involving capital standards were not achieved. There were no instances in which 2012 performance had a material adverse effect on the successful achievement of the FDIC’s mission or its strategic goals and objectives regarding its major program responsibilities.
Additional key accomplishments are noted below.
Updated the FDIC Board of Directors on loss, income, and reserve ratio projections for the Deposit Insurance Fund at the April and October meetings.
Briefed the FDIC Board of Directors in April and October on progress in meeting the goals of the Restoration Plan. Based upon current fund projections, no changes to assessment rate schedules were necessary.
Completed reviews of the recent accuracy of the contingent loss reserves.
Provided analysis to the FDIC Chairman in August 2012, with recommendations for follow-up, of possible refinements to the deposit insurance pricing methodology for banks with assets under $10 billion.
Researched and analyzed emerging risks and trends in the banking sector, financial markets, and the overall economy to identify issues affecting the banking industry and the Deposit Insurance Fund.
Provided policy research and analysis to FDIC leadership in support of the implementation of financial industry regulation, as well as support for testimony and speeches.
Published economic and banking information and analyses through the FDIC Quarterly, FDIC Quarterly Banking Profile (QBP), FDIC State Profiles, and the Center for Financial Research Working Papers.
Operated the Electronic Deposit Insurance Estimator (EDIE), which had 435,192 user sessions in 2012.
Supervision and Consumer Protection
Conducted 2,585 Bank Secrecy Act examinations, including required follow-up examinations and visitations.
Worked with other federal banking regulators and the Basel Committee on Banking Supervision to develop proposals to strengthen capital and liquidity requirements.
Among other releases, issued FILs on effective credit risk management practices for purchased loan participants and the inappropriate practice of directors and officers copying and removing financial institution and supervisory records from the institution in anticipation of litigation or enforcement activity against them.
Completed on-site field work for reviews of 100 percent of the loss share and Limited Liability Corporation (LLC) agreements active as of December 31, 2011, to ensure full compliance with the terms and conditions of the agreements. Reviewed the final review reports and implemented an action plan to address the reports’ findings and recommendations for 80 percent of the loss-share reviews and 70 percent of the LLC reviews.
Terminated at least 75 percent of new receiverships that are not subject to loss-share agreements, structured sales, or other legal impediments within three years of the date of failure.
Made final decisions for 85 percent of all investigated claim areas that were within 18 months of the institution’s failure date.