Home > About FDIC > Financial Reports > 2002 Annual Report




2002 Annual Report

 
II. Performance Results
 

Program Performance Results

 

Supervision Program Results

Strategic Goal: FDIC-supervised institutions are safe and sound.
Annual Performance Goal Indicator Target Results
  1. Conduct on-site safety and soundness examinations to assess an FDIC-supervised insured depository institution's overall financial condition, management practices and policies, and compliance with applicable regulations.
Conduct required examinations in accordance with statute and FDIC policy. One hundred percent of required examinations are conducted on time. Achieved
  1. Prompt supervisory actions are taken to address problems found during the FDIC examination of FDIC-supervised institutions identified as problem insured depository institutions. FDIC-supervised insured depository institution compliance with formal and informal enforcement actions is monitored.
The number of months from the last examination of a problem bank until a follow-up examination is conducted. Follow-up examination is conducted within 12 months of completion of the prior examination. Achieved

 

Strategic Goal: Consumers' rights are protected and FDIC-supervised institutions invest in their communities.
Annual Performance Goal Indicator Target Results
  1. Effective outreach and technical assistance are provided on topics related to the Community Reinvestment Act (CRA), fair lending, and community development.
Assessment of participants' understanding of the financial education topics after attending a One Stop Center financial education workshop. The FDIC's compliance examination program covers nearly 20 different federal statutes and regulations ranging from traditional disclosure laws (such as the Truth in Lending Act) to fair lending statutes (such as the Equal Credit Opportunity and Fair Housing Acts) to the Community Reinvestment Act (CRA), which encourages insured depository institutions to help meet community credit needs. The FDIC has also added the privacy and insurance consumer protection provisions of the Gramm-Leach-Bliley Act of 1999 to its compliance examination program. Eighty-five percent of workshop participants who complete self-evaluation forms rate as "3" or better, on a scale of "1" to "4," the degree to which they increase their understanding of the financial education topic(s). Achieved
  1. 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
  1. Conduct comprehensive and compliance-only examinations in accordance with FDIC examination frequency policy.
Conduct required examinations in accordance with statute and FDIC policy. One hundred percent of required examinations are conducted within time frames established by statute and FDIC policy. Achieved
  1. Prompt supervisory actions are taken and monitored on all institutions rated "4" or "5" for compliance to address problems identified during compliance examinations.
Timely follow-up examination and related activity confirms 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 confirming compliance with the enforcement action. Achieved


PREVIOUS | NEXT | CONTENTS | FDIC HOME
Last Updated 03/31/2003 communications@fdic.gov