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2010 Annual Report

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III. Performance Results Summary

Performance Results by Program and Strategic Goal

2010 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 institution failure that depositors have access to insured funds either through transfer of deposits to the successor insured depository institution or depositor payout. 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. There are no depositor 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.

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

Set assessment rates to restore the insurance fund reserve ratio to the statutory minimum of at least 1.15% of estimated insured deposits by year-end 2016, in accordance with the Amended Restoration Plan.

Update projections and recommend changes for assessments, as necessary.

Provide updated fund projections to the FDIC Board of Directors by June 30, 2010, and December 31, 2010.

Achieved.

Recommend deposit insurance assessment rates for the DIF to the FDIC Board as necessary. Achieved.

Monitor progress in achieving the Amended Restoration Plan.

Provide updates to the FDIC Board by June 30, 2010, and December 31, 2010.

Achieved.
4

Expand and strengthen the FDIC’s participation and leadership role in supporting robust international deposit insurance systems.

Scope of information sharing and assistance available to international governmental bank regulatory and deposit insurance entities.

 

 

Undertake outreach activities to inform and train foreign bank regulators and deposit insurers.

Achieved.





Foster strong relationships with international banking regulators and associations that promote sound banking supervision and regulation, failure resolutions, and deposit insurance practices.

Achieved.

Develop methodology for assessing compliance with implementation of the Core Principles for Effective Deposit Insurance Systems.

Achieved.


2010 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.

Percentage of required examinations conducted in accordance with statutory requirements and FDIC policy.

One hundred percent of required risk management examinations are conducted on schedule.

Achieved.

2

Take prompt and effective supervisory action to address unresolved problems identified during the FDIC examination of FDIC-supervised institutions that receive a composite Uniform Financial Institutions Rating of “3”, “4”, or “5” (problem institution). Monitor FDIC-supervised insured depository institutions’ compliance with formal and informal enforcement actions.

Percentage of follow-up examinations and on-site visits of 3-, 4-, or 5-rated institutions conducted within required time frames.

One hundred percent of required on-site visits are conducted within six months of completion of the prior examination to confirm that the institution is fulfilling the requirements of the corrective program.

 

Achieved.

One hundred percent of required follow-up examinations are conducted within 12 months of completion of the prior examination to confirm that identified problems have been correctedOne hundred percent of required follow-up examinations are conducted within 12 months of completion of the prior examination to confirm that identified problems have been corrected

Achieved.

3

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.

One hundred percent of required Bank Secrecy Act examinations are conducted on schedule.

Achieved.

4

More closely align regulatory capital with risk and ensure that capital is maintained at prudential levels.

Final Basel II Standardized Approach.

Complete by December 31, 2010, the rulemaking for implementing the Standardized Approach for an appropriate subset of U.S. banks.

Deferred.

Controls on banks’ use of internal or external ratings. Complete by December 31, 2010, the rulemaking for amending the floors for banks that calculate their riskbased capital requirements under the Advanced Approaches Capital rule to ensure capital requirements meet safety-and-soundness objectives.

Not Achieved.

Revisions to the Market Risk Amendment of 1996. Complete by December 31, 2010, the
rulemaking for implementing revisions
to the Market Risk Amendment of
1996.

Deferred.

Revisions to regulatory capital charges for resecuritizations and asset-backed commercial paper liquidity facilities Complete by December 31, 2010, the rulemaking for implementing revisions to regulatory capital charges for resecuritizations and asset-backed commercial paper liquidity facilities.

Deferred.

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

5

Conduct on-site CRA and compliance examinations to assess compliance with applicable laws and regulations by FDIC-supervised depository institutions.

Percentage of examinations conducted in accordance with statutory requirements and FDIC policy.

One hundred percent of required examinations are conducted on schedule.

Achieved.

6

Take prompt and effective supervisory action to monitor and address problems identified during compliance examinations of FDIC-supervised institutions that receive an overall “3”, “4”, or “5” rating for compliance with consumer protection and fair lending laws.

Percentage of follow-up examinations or visitations of 3-, 4-, and 5-rated institutions conducted within required time frames.

One hundred percent of follow-up examinations or visitations are conducted within 12 months of completion of the prior examination to confirm that the institution is fulfilling the requirements of the corrective program and that the identified problems have been corrected.

Achieved.

7

Effectively investigate and respond to written consumer complaints and inquiries about FDIC-supervised financial institutions.

Timely responses to written consumer complaints and inquiries.

Responses are provided 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.

8

Establish, in consultation with the FDIC’s Advisory Committee on Economic Inclusion and other regulatory agencies, national objectives and methods for reducing the number of unbanked and underbanked individuals.

Completion of initiatives to facilitate progress in improving the engagement of low- and moderate-income individuals with mainstream financial institutions.

Facilitate completion of final recommendation on the initiatives identified in the Advisory Committee’s strategic plan.

Achieved.


Implement, or establish plans to implement, Advisory Committee recommendations approved by the FDIC for further action, including new research, demonstration and pilot projects, and new and revised supervisory and public policies.

Achieved.

2010 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 failed institution’s assets marketed.

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.

Enhancements to contract management program. Implement enhanced reporting
capabilities from the Automated
Procurement System.

Achieved.

Ensure that all newly designated oversight managers and technical monitors receive training in advance of performing contract administration responsibilities.

Achieved.

Optimize the effectiveness of oversight managers and technical monitors by restructuring work assignments, providing enhanced technical support, and improving supervision.

Achieved.

3

Manage the receivership estate and its subsidiaries toward an orderly termination.

Timely termination of new receiverships.

Terminate within three years of the date of failure, at least 75 percent of new receiverships that are not subject to loss-share agreements, structured sales, or other legal impediments.

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, a decision is made to close or pursue claims within 18 months of the failure date.

Achieved.

Last Updated 5/5/2011 communications@fdic.gov