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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

2013 Annual Report

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Performance Results by Program and Strategic Goal

2013 Insurance Program Results

Strategic Goal: Insured depositors are protected from loss without recourse to taxpayer funding.

# Annual Performance Goal Indicator Target Results
1 Respond promptly to all financial institution closings and related emerging issues. Number of business days after an institution failure that depositors have access to insured funds. Depositors have access to insured funds within one business day if the failure occurs on a Friday. Achieved.
Depositors have access to insured funds within two business days if the failure occurs on any other day of the week. Achieved.
Insured depositor losses resulting from a financial institution failure. Depositors do not incur any losses on insured deposits. Achieved.
No appropriated funds are required to pay insured depositors. Achieved.
2 Disseminate data and analyses on issues and risks affecting the financial services industry to bankers, supervisors, the public, and other stakeholders on an ongoing basis. Scope and timeliness of information dissemination on identified or potential issues and risks. Disseminate results of research and analyses in a timely manner through regular publications, ad hoc reports, and other means. Achieved.
Undertake industry outreach activities to inform bankers and other stakeholders about current trends, concerns, and other available FDIC resources. Achieved.
3 Adjust assessment rates, as necessary, to achieve a DIF reserve ratio of at least 1.35 percent of estimated insured deposits by September 30, 2020. Updated fund balance projections and recommended changes to assessment rates. Provide updated fund balance projections to the FDIC Board of Directors by June 30, 2013, and December 31, 2013. Achieved.
Recommend changes to deposit insurance assessment rates to the FDIC Board of Directors as necessary. Achieved.
Demonstrated progress in achieving the goals of the Restoration Plan. Provide progress reports to the FDIC Board of Directors by June 30, 2013, and December 31, 2013. Achieved.
4 Expand and strengthen the FDIC's participation and leadership role
in supporting robust international deposit insurance and banking systems.
Initiatives to advance the FDIC's global leadership and participation.
 
Maintain open dialogue with counterparts in strategically important countries as well as international financial institutions and partner U.S. agencies. Achieved.
Conduct workshops and assessments of deposit insurance systems based on the methodology for assessment of compliance with the Basel Committee on Bank Supervision (BCBS) and the International Association of Depositor Insurers (IADI) Core Principles for Effective Deposit Insurance Systems. Achieved.
Provision of technical assistance to foreign counterparts. Support visits, study tours, and longer-term technical assistance and training programs for foreign jurisdictions to strengthen their deposit insurance organizations, central banks, and bank supervisors. Achieved.
5 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. Timeliness of responses to deposit insurance coverage inquiries. Respond within two weeks to 95 percent of written inquiries from consumers and bankers about FDIC deposit insurance coverage. Achieved.
Initiatives to increase public awareness of deposit insurance coverage changes. Conduct at least 15 telephone or in-person seminars for bankers on deposit insurance coverage. Achieved.

 

2013 Supervision and Consumer Protection Program Results

Strategic Goal: FDIC-insured institutions are safe and sound.

# Annual Performance Goal Indicator Target Results
1 Conduct on-site risk management examinations to assess the overall financial condition, management practices and policies, and compliance with applicable laws and regulations of FDIC-supervised depository institutions. When problems are identified, promptly implement appropriate corrective programs, and follow up to ensure that identified problems are corrected. Percentage of required examinations conducted in accordance with statutory requirements and FDIC policy. Conduct all required risk management examinations within the time frames prescribed by statute and FDIC policy. Achieved.
Implement appropriate corrective program where violations are identified. Implement formal or informal enforcement actions within 60 days for at least 90 percent of all institutions that are newly downgraded to a composite Uniform Financial Institutions Rating of 3, 4, or 5. Achieved.
2 Assist in protecting the infrastructure of the U.S. banking system against terrorist financing, money laundering, and other financial crimes. Percentage of required examinations conducted in accordance with statutory requirements and FDIC policy. Conduct all Bank Secrecy Act examinations within the time frames prescribed by statute and FDIC policy. Achieved.
3 More closely align regulatory capital standards with risk and ensure that capital is maintained at prudential levels. Completion of review of comments and impact analyses of changes to regulatory capital rules. Complete by June 30, 2013, the review of comments and impact analysis of June 2012 proposed interagency changes to regulatory capital rules. Achieved.
Issuance by the federal banking agencies of final regulatory capital rules to implement internationally agreed upon enhancements to regulatory capital standards and remove references to credit ratings consistent with DFA. Issue by December 31, 2013, final regulatory capital rules. Achieved.
4 Identify and address risks in financial institutions designated as systemically important. Timely completion of statutory and regulatory requirements under Title I of DFA. Complete, in collaboration with the Federal Reserve Board and in accordance with statutory and regulatory time frames, all required actions associated with the review of Section 165(d) resolution plans submitted under Title I of DFA. Achieved.
Input from Systemic Resolution Advisory Committee. Hold at least one meeting of the Systemic Resolution Advisory Committee to obtain feedback on resolving systemically important financial companies. Achieved.

2013 Supervision and Consumer Protection Program Results

Strategic Goal: Consumers’ rights are protected and FDIC-supervised institutions invest in their communities.

# Annual Performance Goal Indicator Target Results
5 Conduct on-site CRA and compliance examinations to assess compliance with applicable laws and regulations by FDIC-supervised depository institutions. When violations are identified, promptly implement appropriate corrective programs and follow up to ensure that identified problems are corrected. Percentage of examinations conducted in accordance with the time frames prescribed by FDIC policy. Conduct 100 percent of required examinations within the time frames established by FDIC policy. Achieved.
Implementation of corrective programs. Conduct visits and/or follow-up examinations in accordance with established FDIC policies and ensure that the requirements of any required corrective program have been implemented and are effectively addressing identified violations. Achieved.
6 Effectively investigate and respond to written consumer complaints and inquiries about FDIC-supervised financial institutions. Timely responses to written consumer complaints and inquiries. Respond to 95 percent of written consumer complaints and inquiries within time frames established by policy, with all complaints and inquiries receiving at least an initial acknowledgement within two weeks. Achieved.
7 Promote economic inclusion and access to responsible financial services through supervisory, research, policy, and consumer/community affairs initiatives. Completion of planned initiatives. Conduct the third biennial FDIC National Survey of Unbanked and Underbanked Households (conducted jointly with the U.S. Census Bureau). Achieved.
Initiate work on the Survey of Banks' Efforts to Serve the Unbanked and Underbanked. Deferred.
Implement the strategy outlined in the work plan approved by the Advisory Committee on Economic Inclusion to support the responsible use of technology to expand banking services to the unbanked. Achieved.

 

2013 Receivership Management Program Results

Strategic Goal: Resolutions are orderly and receiverships are managed effectively.

# Annual Performance Goal Indicator Target Results
1 Market failing institutions to all known qualified and interested potential bidders. Scope of qualified and interested bidders solicited. Contact all known qualified and interested bidders. Achieved.
2 Value, manage, and market assets of failed institutions and their subsidiaries in a timely manner to maximize net return. Percentage of the assets marketed for each failed institution. For at least 95 percent of insured institution failures, market at least 90 percent of the book value of the institution's marketable assets within 90 days of the failure date (for cash sales) or 120 days of the failure date (for structured sales). Achieved.
3 Manage the receivership estate and its subsidiaries toward an orderly termination. Timely termination of new receiverships. Terminate 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. Achieved.
4 Conduct investigations into all potential professional liability claim areas for all failed insured depository institutions, and decide as promptly as possible, to close or pursue each claim, 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. For 80 percent of all claim areas, make a decision to close or pursue professional liability claims within 18 months of the failure of an insured depository institution. Achieved.

 

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