The Open Government Directive, issued by the Office of Management and Budget (OMB) on December 8, 2009, requires all federal agencies to create a plan describing how they will implement the principles of transparency, participation, and collaboration in their activities. The directive defines these components as:
Transparency – promote
accountability by providing the public with information about what the
government is doing.
Participation – allows
members of the public to contribute ideas and expertise so that their
government can make policies with the benefit of information that is widely
dispersed in society.
Collaboration – improves
the effectiveness of government by encouraging partnerships and
cooperation within the federal government, across levels of government,
and between the government and private institutions.1
The FDIC approach to open government supports improved services to stakeholders, improved operational efficiency, reduced paperwork, reduced redundancy, and streamlined business processes. This approach is in line with the corporate mission and strategic goals.
Open government is an important component of the FDIC's public outreach, program development and business strategy. As the insurer of deposits in U.S. financial institutions, the FDIC collaborates with other financial institution regulatory agencies to formulate policy, rules, and regulations to maintain the safety and soundness of deposits in banks and thrift institutions. Proposed regulations and policy are routinely published for public comment and input prior to final enactment. The FDIC has developed a number of successful access channels that promote the principles of transparency, participation, and collaboration.