2014 Annual Performance Plan
I am pleased to present the Federal Deposit Insurance Corporation’s 2014 Annual Performance Plan that outlines our goals and priorities for the year.
Our 2013 Annual Report describes the wide variety of accomplishments by the FDIC last year in fulfilling our core mission responsibilities. During 2014, as we continue to move beyond the recent financial crisis, the FDIC remains well prepared to carry out our mission of maintaining stability and public confidence in the nation’s financial system by insuring deposits, examining and supervising financial institutions for safety and soundness and consumer protection, and managing receiverships. At the end of 2013, the FDIC insured $6 trillion of deposits in over half a billion accounts at nearly 6,900 institutions.
During 2014, our broader policy agenda includes:
- Carrying forward our important responsibilities relating to systemically important financial institutions (SIFIs), including supervision, deposit insurance pricing, and resolution.;
- Continuing the FDIC’s Community Banking Initiatives, including researching the future of community banks and providing technical assistance through a series of training videos on various topics; and
- Continuing our efforts to expand access to the mainstream banking system for everybody who lives in the United States, including our survey of the unbanked that we conduct jointly with the U.S. Census Bureau.
In addition, important work continues in the aftermath of the financial crisis. The number of problem institutions has declined substantially from a peak of 888 in 2011, but remains high, about 500 at year-end, by historical standards. These institutions still require elevated supervisory attention. Similarly, while the number of insured institution failures has fallen considerably from the a high of 157 failures in 2010, we still have substantial residual work to complete in managing nearly 500 active receiverships that are associated with the failures that occurred from 2008 through 2013. In 2014, we will devote substantial resources to both of these priorities.
The U.S. economy and the banking industry are gradually recovering from the financial crisis. Capital levels, liquidity, asset quality, and earnings for insured institutions have all improved. Although the underlying trends are positive, the FDIC will remain vigilant and is prepared to address any unexpected problems that may arise.
In our 81-year history, the FDIC has promoted stability and public confidence in the banking system by carrying out its responsibilities for deposit insurance, bank resolution, and bank supervision. The FDIC will continue in 2014 to fulfill this important mission.
Martin J. Gruenberg