1

Summary of 2002 Performance Results by Program

In accordance with Section 232.8 of the Office of Management and Budget’s

Circular No. A-11, Part 2, the FDIC is pleased to report that there were no 

situations in 2002 where performance had an adverse effect on the FDIC’s 

activities or programs. In addition, 2002 performance was considered in the

development of the FDIC’s 2003 Annual Performance Goals. The Office 

of Inspector General (OIG) has shared its view of the challenges the Corporation

is confronting and has acknowledged the numerous actions under way to

address these issues. See Appendix C for a list of these challenges. Management

is committed to addressing issues identified by the OIG, as evidenced by the 

initiatives discussed in the operations section of the report.

II. Performance

Results
23

Program Area Performance Results

Insurance ● Resolved 11 insured institution failures, providing depositors with timely access to insured 

deposits in each case. For seven of the failures, depositors had uninterrupted and continuous 

access to insured deposits as the deposits were assumed by an acquiring entity. For the 

remaining four failures, a deposit payout was conducted where a check in the amount of the 

insured deposit was mailed to each depositor in the required time frames.

● The House of Representatives voted to approve deposit insurance reform legislation. Although 

the Senate failed to act on the legislation before adjournment, the Corporation will continue to 

pursue deposit insurance reform in the 108th Congress.

● Completed risk assessments for all large insured depository institutions. 

● Improved the accuracy and efficiency of off-site risk identification models.

● Published economic and banking information and analysis:

● Quarterly editions of Regional Outlook,

● 68 Briefing Notes,

● Semiannual FDIC Report on Underwriting Practices, 

● Semiannual Report on Underwriting Practices by Region,

● Six Bank Trends,

● Quarterly editions of the Real Estate Data System, and

● Semiannual Survey of Real Estate Trends.

● Created a new electronic communications tool (FYI) to disseminate pertinent, timely analysis 

on risk-related issues to key stakeholders; published 36 FYIs.

Supervision ● Conducted 2,534 safety and soundness examinations. This included all statutorily required safety 

and soundness examinations, except for a small number deferred due to pending mergers. 

● Conducted 1,820 compliance and Community Reinvestment Act examinations in accordance 

with FDIC policy.

Receivership ● Contacted all known and qualified potential bidders in each of the 11 institution failures in 2002.

● Marketed at least 85 percent of all marketable assets within a 90-day time frame for nine 

of the 11 institutions that failed in 2002. (For the remaining two institutions, the 90-day 

time frame had not expired at year-end.) 

● Terminated 108 receiverships.

Management
2002 Budget and Expenditures by Program

The FDIC budget for 2002 totaled $1.22 billion. Excluding $142.9 million for

Corporate General and Administrative expenditures, budget amounts were 

allocated to corporate programs and related goals as follows: $152.6 million, 

or 14 percent, to the Insurance program; $606.7 million, or 57 percent, to the

Supervision program; and $313.9 million, or 29 percent, to the Receivership

Management program. 

Actual expenditures for the year totaled $1.19 billion. Excluding $125.8 million 

for Corporate General and Administrative expenses, actual expenditures were

allocated to programs as follows: $118.3 million, or 11 percent, to the Insurance 

program; $629.3 million, or 59 percent, to the Supervision program; and 

$316.5 million, or 30 percent, to the Receivership Management program. 

Higher-than-proposed spending for the Supervision program and lower-thanprojected spending for the Insurance program reflect actual time charges by

examiners. During 2003, the FDIC will review time reported by examiners 

to ensure that they are accurately allocating their time between these two 

programs.

24
25

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 Conduct required examinations One hundred percent of Achieved

examinations to assess an FDIC- in accordance with statute required examinations are 

supervised insured depository and FDIC policy. conducted on time.

institution’s overall financial condition,

management practices and policies,

and compliance with applicable 

regulations.

2 Prompt supervisory actions are The number of months from Follow-up examination is Achieved

taken to address problems found the last examination of a conducted within 12 months 

during the FDIC examination of FDIC- problem bank until a follow-up of completion of the

supervised institutions identified as examination is conducted. prior examination.

problem insured depository 

institutions. FDIC-supervised insured 

depository institution compliance 

with formal and informal enforcement 

actions is monitored.

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

3 Effective outreach and technical Assessment of participants’ Eighty-five percent of Achieved

assistance are provided on topics understanding of the financial workshop participants who

related to the Community education topics after attending complete self-evaluation

Reinvestment Act (CRA), fair a One Stop Center financial forms rate as “3” or better, 

lending, and community education workshop. The FDIC’s on a scale of “1” to “4,” the

development. compliance examination program degree to which they increase

covers nearly 20 different federal their understanding of the

statutes and regulations ranging financial education topic(s).

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.

4 Effectively meet the statutory man- Timely responses to written Ninety percent of written Achieved

date to investigate and respond to complaints. complaints are responded to

consumer complaints about FDIC- within time frames established

supervised financial institutions. by policy.
26

Supervision Program Results (continued)

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

Annual Performance Goal Indicator Target Results

5 Conduct comprehensive and Conduct required examinations One hundred percent of Achieved

compliance-only examinations in in accordance with statute and required examinations are 

accordance with FDIC examination FDIC policy. conducted within time frames

frequency policy. established by statute and

FDIC policy.

6 Prompt supervisory actions are Timely follow-up examination A follow-up examination or Achieved

taken and monitored on all and related activity confirms related activity is conducted

institutions rated “4” or “5” for whether the institution is in within 12 months from the 

compliance to address problems compliance with the date of a formal enforcement

identified during compliance enforcement action. action confirming compliance

examinations. with the enforcement action.

Insurance Program Results

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

1 FDIC is prepared to deal with all Number of business days after If the failure occurs on Achieved

financial institution closings and institution failure by which a Friday, the target is one 

emerging issues. depositors will have access to business day.

insured funds either through 

transfer of deposits to successor If the failure occurs on any Achieved

insured depository institution other day of the week, the

or depositor payout. target is two business days.
27

Insurance Program Results (continued)

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

Annual Performance Goal Indicator Target Results

2 Identify and address risks to the Maintain and improve off-site Review and enhance existing Achieved

insurance funds. risk identification model(s). FDIC off-site risk identification 

models to address credit, 

agricultural, real estate, 

technology and other risks 

by December 31, 2002. 

Assess risks posed by large Assess risks in 100 percent Achieved

insured depository institutions. of large insured depository 

institutions and adopt 

appropriate strategy.

Identify and follow up on Identify and follow up on Achieved

concerns referred for examination 100 percent of referrals.

or other action (e.g., contact 

the insured institution or

primary supervisor). 

Disseminate data and analyses Analyses are included in Achieved

on current issues and risks regular publications or as

affecting the banking industry ad-hoc reports on a timely 

to bankers, supervisors, basis. 

stakeholders and the public.

Conduct industry outreach Achieved

aimed at the banking 

community and industry trade

groups to discuss current

trends and concerns and to

inform bankers about available

FDIC resources.

3 Maintain sufficient and reliable Maintain and improve the Update and expand data Achieved

information on insured depository Research Information System availability in RIS.

institutions. (RIS), which serves as the 

foundation of most analysis and 

statistical reporting for the FDIC.

Develop a more efficient Develop project scope, Achieved

approach to bank data collection evaluate technical alternatives,

and management. prepare recommendations

and establish implementation

schedule.
28

Insurance Program Results (continued)

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

Annual Performance Goal Indicator Target Results

4 Maintain and improve the deposit Continue the comprehensive Work with the Congress to Achieved

insurance system. deposit insurance review develop and pass a reform

initiated in 2000. package.

Develop pricing recommen- On Hold

dations and implementation 

plans for inclusion in a notice 

and comment rulemaking

during 2002.

Identify and review possible Develop and analyze baseline Achieved

modifications to the Risk-Related data of implemented modifiPremium System (RRPS). cation results.

Assess the feasibility of Achieved

developing objective screens 

for the RRPS that identify 

financial institutions demonstrating excessive risk, such 

as certain types of credit risk,

market risk and operational risk.

Analyze the accuracy of Review discrepancies between Achieved

projected losses to and projected failed assets and 

reserves for the insurance actual failed assets by applying

funds. sophisticated analytical 

techniques to examine the 

effectiveness of the loss 

projection model and adjust 

the system accordingly.

Perform comprehensive Achieved

analysis of all aspects of 

reserving methodology and 

implement enhancements 

as necessary.

Maintain the reserve balance Maintain the designated Achieved

to insured deposits. reserve ratio (DRR) as required

by statute, using the DRR 

target.
29

Receivership Management Program Results

Strategic Goal: Recovery to creditors of receiverships is achieved.

Annual Performance Goal Indicator Target Results

1 Market failing institutions to all List of qualified and interested Contact all known qualified Achieved

known qualified and interested bidders. and interested bidders.

potential bidders.

2 The FDIC values, manages and Failed institution’s assets Eighty-five percent of book Achieved

markets assets of failed institutions are marketed. value of failed institution’s 

and their subsidiaries in a timely marketable assets are 

manner to maximize net return. marketed within 90 days 

of failure.

3 Investigations will be conducted into Percentage of investigated claim For 80 percent of all claim Achieved

all potential professional liability claim areas for which a decision has areas, a decision is made to

areas in all failed insured depository been made to close or pursue close or pursue the claim.

institutions, and a decision to close the claim within 18 months

or pursue each claim is made as after the failure date.

promptly as possible, considering the

size and complexity of the institution.

4 The FDIC, as receiver, manages Timely termination of new Terminate 75 percent of Achieved

the receivership estate and its receiverships. receiverships managed through

subsidiaries toward an orderly the Receivership Oversight 

termination. Program within three years 

of the failure date (starting 

with receiverships established

in the year 2000).
30

Multi-Year Performance Trend

Depositor Payouts in Instance of Failure

Annual Goal 1999 Results 2000 Results 2001 Results 2002 Results 2003 Goal

Insured deposits are trans- Timely payments Timely payments Annual goal Annual goal Annual goal

ferred to successor insured made to all made to all revised revised revised

depository institution or depositors depositors of the (see below). (see below). (see below).

depositor payouts are begun for seven of seven insured

within three days of insured eight insured depository 

depository institution failure. depository institutions that 

institutions that failed in 2000.

failed in 1999.

Revised Goal:

FDIC is prepared to deal with Annual goal Annual goal Timely payments Timely payments Deal with all 

all financial institution closings not established not established made to all made to all financial institution

and emerging issues. in 1999. in 2000. depositors of depositors of closings and 

the four insured the 11 insured emerging issues. 

depository depository 

institutions that institutions that 

failed in 2001. failed in 2002.

Legislation on 

deposit insurance 

reform was 

introduced in the 

House and the 

Senate.

Risk Classifications

Maintain and improve the To improve Reserve ratio Reserve ratio Reserve ratio main- Maintain and

deposit insurance system. system, maintained at maintained. FDIC tained at or above improve the

Financial Risk or above the published its final the statutory ratio deposit insurance

Committee statutory recommendations of 1.25 percent. system. Provide

established. mandate of for deposit Chairman testified educational infor1.25 percent. insurance reform. before the Senate mation to insured 

Committee in depository institusupport of deposit tions and their 

insurance reform. customers to 

help them understand the rules 

for determining 

the amount of 

insurance coverage 

on their deposits.
31

●

● ● ●

Risk Identification and Reporting

Annual Goal 1999 Results 2000 Results 2001 Results 2002 Results 2003 Goal

Identify and address risks Off-site and on-site Economic trends Developed several Significant progress Identify and 

to the insurance funds. risk identification and emerging approaches to made in improving address risks to 

processes were risks were credit risk that will the accuracy and the insurance 

used to identify identified, be incorporated into efficiency of off- funds.

risk areas and monitored and Virtual Supervisory site risk identificaconcerns such as: addressed through Information On the tion models. Risk

subprime lending, the publication Net system. Risk assessments of

construction of surveys, assessments of all large insured

lending practices, guidance and all large insured depository 

loan underwriting reports and depository institutions (LIDIs) 

standards, outreach institutions (LIDIs) were completed 

electronic banking programs. were completed in compliance 

and privacy. in compliance with program 

with program requirements.

requirements.

Safety and Soundness Examinations

Conduct on-site safety and Conducted 2,555 Conducted 2,568 Conducted 2,575 Conducted 2,534 Conduct on-site 

soundness examinations to or 95 percent or 97 percent or 97 percent or 98 percent safety and soundassess an FDIC-supervised of required safety of required safety of required safety of required safety ness examinations 

insured depository institution’s and soundness and soundness and soundness and soundness to assess an FDICoverall financial condition, examinations. examinations. examinations. examinations. supervised insured

management practices and depository institupolicies, and compliance with tion’s overall

applicable regulations. financial condition,

management 

Note: From 1999 -2001, the totals practices and

reflect examinations initiated policies, and

during the year. This will vary compliance

slightly from the chart on page 14, with applicable

which displays examinations regulations.

completed during these years.

Safety and Soundness Enforcement Actions

Take prompt supervisory actions The number of On average, Sixty-seven Eighty-four Take prompt

to address problems identified problem institutions examination institutions institutions supervisory actions 

during the FDIC examination increased from 41 reports were designated as designated as to address probof FDIC-supervised institutions at 12/31/98 to 43 processed and problem (com- problem (com- lems identified

identified as problem insured as of 12/31/99. mailed to posite “4” or “5” posite “4” or “5” during the FDIC

depository institutions. Monitor Thirty-one institutions within rated). Fifty-six rated). Forty-eight examination of

FDIC-supervised insured institutions 44 days of receipt were removed were removed FDIC-supervised

depository institutions’ removed from in regional office. from problem from problem institutions identified

compliance with formal and problem status Target is 45 days. status and 76 status and 63 as problem insured

informal enforcement actions. and 33 added. added. added. depository institutions. Monitor FDICsupervised insured 

depository institutions’ compliance 

with formal and 

informal enforcement actions.
32

Compliance Examinations

Annual Goal 1999 Results 2000 Results 2001 Results 2002 Results 2003 Goal

Conduct comprehensive and Conducted 2,368 Conducted 2,257 Conducted 2,180 Conducted 1,820 Conduct

compliance-only examinations examinations or examinations or comprehensive, comprehensive, comprehensive

in accordance with FDIC 102 percent of 102 percent of compliance - compliance - and compliance -

examination frequency policy. annual target. annual target. only, and CRA only, and CRA only examinations

No delinquent There were three examinations in examinations in in accordance with

examinations. delinquent accordance with accordance with FDIC examination

examinations at FDIC policy. FDIC policy. frequency policy.

the end of 2000.

CRA Outreach

Effective outreach, technical Annual goal was One pilot forum Annual goal Annual goal Annual goal

assistance and training are not established on financial literacy revised revised revised

provided on topics related to in 1999. and predatory (see below). (see below). (see below).

the Community Reinvestment lending was held 

Act (CRA) and community in each region.

development. 

Revised Goal: 

Provide effective outreach Annual goal was Annual goal was Conducted 25 Money Smart Provide effective

and technical assistance not established not established Money Smart classes attended outreach and

on topics related to the CRA, in 1999. in 2000. workshops by approximately technical assistance

fair lending and community with over 2,800 participants. on topics related

development. 600 participants. to the CRA, fair

lending and 

community 

development. 
33

Compliance Enforcement Actions

Annual Goal 1999 Results 2000 Results 2001 Results 2002 Results 2003 Goal

Corrective actions are taken, Nine institutions Annual goal Annual goal Annual goal Annual goal 

if appropriate, to address were designated revised revised revised revised 

problems identified during as compliance (see below). (see below). (see below). (see below).

compliance examinations; problems and

bank compliance with those rated “4.” All 

actions is monitored. enforcement

actions were 

in place.

Revised Goal: 

Prompt supervisory actions Annual goal For institutions Six of seven Eight of nine Prompt 

are taken and monitored on all was not on average rated institutions had institutions had supervisory 

institutions rated “4” or “5” established a composite either been entered into a actions are taken

for compliance. in 1999. “4” or “5,” the examined in the Memorandum of and monitored

FDIC conducted preceding 12 Understanding on all institutions

all follow-up months or were (MOU) with the rated “4” or “5” 

examinations still within the 12 FDIC and the for compliance.

within the targeted month time frame ninth was in the

time frame of between exam- process of 

of 12 months inations. One reviewing the 

from the issuance institution was recommended 

date of a formal pending resolution MOU.

enforcement action. for safety and 

soundness reasons, 

and the compliance 

examination was 

deferred pending 

resolution.
34

Consumer Complaints and Inquiries

Annual Goal 1999 Results 2000 Results 2001 Results 2002 Results 2003 Goal

Effectively respond to written A pilot customer One hundred FDIC sent 612 Annual goal Annual goal 

complaints and inquiries satisfaction survey percent of the survey cards to revised revised 

related to deposit insurance was conducted. FDIC’s responses consumers and (see below). (see below).

and consumer protection laws. to the 6,736 bankers who 

written complaints contacted the

and inquiries Washington Office 

received were made concerning

within targeted inquiries and 

average turnaround complaints. Eightytime frames. four (14 percent) 

of the cards were 

returned to the 

FDIC. Sixty-two 

percent of the

the responses 

rated the FDIC 

as “excellent” in 

response quality 

and 64 percent 

rated the FDIC as 

“excellent” in

in timeliness of 

response. 

Revised Goal: 

Meet the statutory mandate Annual goal Annual goal Annual goal FDIC received Meet the 

to investigate and respond was not was not was not 8,368 consumer statutory mandate

to consumer complaints established established established complaints, closing to investigate

about FDIC-supervised in 1999. in 2000. in 2001. 95 percent of them. and respond 

financial institutions. Of the complaints to consumer 

closed, 94 percent complaints about 

were closed within FDIC-supervised 

policy time frames. financial 

institutions.
35

Asset Management

Annual Goal 1999 Results 2000 Results 2001 Results 2002 Results 2003 Goal

Market 80 percent of a failed Annual goal Ninety-five percent Annual goal Annual goal Annual goal

institution’s assets to franchise was not of failed revised revised revised

and nonfranchise investors established institutions’ assets (see below). (see below). (see below).

within 90 days of resolution. in 1999. were marketed

within 90 days, thus

exceeding the

target of 80 percent.

Revised Goal: 

Value, manage and market Annual goal Annual goal For three For nine of 11 Value, manage

assets of the failed institutions was not was not institutions that institutions that and market assets

and their subsidiaries in established established failed, the FDIC failed, at least 85 of the failed

a timely manner to maximize in 1999. in 2000. marketed 100 percent of all institutions and 

net return. percent of the marketable assets their subsidiaries 

marketable assets. were marketed in a timely manner

The remaining within the 90-day to maximize

institution was time frame, thus net return.

placed into con- meeting the target.

servatorship. Loan For two of the 

pools, servicing failures, 90 days

operations and had not expired

residuals that by year-end.

totaled in excess 

of the 80 percent 

target were 

marketed within 

the 90-day time 

period.
36

Least-Cost Resolution

Annual Goal 1999 Results 2000 Results 2001 Results 2002 Results 2003 Goal

Market to all known qualified Annual goal There were seven There were four There were 11 Market failing

and interested potential was not failures in 2000. failures in 2001. failures in 2002. institutions to all

assuming institutions. established One hundred One hundred One hundred known qualified

in 1999. percent of the percent of the percent of the and interested

qualified potential qualified potential qualified potential potential bidders.

bidders were bidders were bidders were

contacted. contacted. contacted.

Professional Liability Claims

Investigations are conducted As of 12/31/99, six A decision to close Annual goal Annual goal Annual goal

into all potential professional institutions failed or pursue each revised revised revised

liability claim areas in all failed within the first three claim was made (see below). (see below). (see below).

insured depository institutions quarters of 1999 within 18 months

and a decision to close or and decisions were after the failure date

pursue each claim will be made with regard for 100 percent

made within 18 months after to five of the 66 of all investigations.

the failure date in 80 percent potential claims.

of all investigations. For the April 1998 

failure, decisions 

were made in all 

11 claim areas in

17 months. The 

remaining 1998 

failures occurred 

less than 18 months 

ago.

Revised Goal: 

Conduct investigations into all Annual goal Annual goal Five of nine Two of six institu- Conduct

potential professional liability was not was not institutions that tions that reached investigations

claim areas in all failed insured established established reached the 18 - the 18-month into all potential

depository institutions. in 1999. in 2000. month milestone milestone during professional 

Decide to close or pursue each had 100 percent 2002 had 100 per- liability claim areas

claim as promptly as possible, of professional cent of professional in all failed 

considering the size and liability investiga- liability investiga- insured depository

complexity of the institution. tions completed. tions completed. institutions. 

The other four Decide to close

institutions had or pursue each

at least 80 percent claim as promptly

of professional as possible, 

liability investiga- considering the

tions completed, size and complexity

meeting the goal of the institution.

of 80 percent.
37

Receivership Terminations

Annual Goal 1999 Results 2000 Results 2001 Results 2002 Results 2003 Goal

Achieve a 35 percent reduction Annual goal One hundred Annual goal Annual goal Annual goal

in the number of active was not fifty-six receiver- revised revised revised

receiverships in 2000. established ships were (see below). (see below). (see below).

in 1999. terminated, thus

achieving the.

goal of 156

Revised Goal: 

Manage the receivership Annual goal Annual goal Fifty-two out of For the eight failures Manage the 

estate and its subsidiaries was not was not the 76 targeted from 1999 that receivership

toward an orderly termination. established established receiverships were matured in 2002, estate and its

in 1999. in 2000. terminated in 2001. FDIC terminated subsidiaries

In mid-2001, the six receiverships, toward an orderly

target of 76 meeting the target termination. Value,

terminations was to terminate manage and

revised to 36. The 75 percent within market assets 

pace of termination three years of the failed 

was slowed by of failure. institutions and

impediments that their subsidiaries

represented in a timely manner

material financial to maximize

or legal risks net return.

to the FDIC.
38

Program Evaluation 

During 2002 and early 2003, the FDIC completed evaluations of programs designed to achieve the 

strategic objectives set forth in the Supervision: Consumer Rights program area of the FDIC’s 2001-2006 

Strategic Plan. 

The program evaluation of each strategic objective included a list of issues to be evaluated, background

context of the evaluation, analysis of programs and actions to achieve the objective, evaluation methodology,

and findings. The following section presents the issues evaluated and summarizes the results of this 

evaluation.

Strategic Deposit insurance funds and system remain viable.

Objective

Issues How does the FDIC ensure that FDIC-supervised institutions comply with consumer protection, Community

Evaluated Reinvestment Act (CRA), and fair lending laws?

Findings The FDIC has extensive procedures in place to evaluate how well FDIC-supervised institutions comply with

consumer protection, CRA, and fair lending laws. The FDIC conducts compliance and CRA examinations 

to evaluate FDIC-supervised institutions’ practices regarding consumer protection, CRA, and fair lending 

laws. In addition to the examination process, the FDIC investigates consumer complaints about banking 

practices. Noncompliance with consumer protection and fair lending laws can result in civil liability and 

negative publicity as well as informal or formal enforcement actions against the institution to correct the 

identified violations. The FDIC also uses the institutions’ record of compliance with consumer protection, 

CRA, and fair lending laws when evaluating applications for new or expanded activities and certain 

other corporate applications. The Program Evaluation team found that, through its compliance and CRA 

examinations and its Complaint and Inquiry Program, the FDIC has appropriate procedures in place to 

evaluate how well FDIC-supervised institutions comply with consumer protection, CRA, and fair lending 

laws.

Strategic Consumers have access to easily understood information about their rights and the disclosures due them

Objective under consumer protection and fair lending laws.

Issues Does the FDIC provide information to consumers about their rights and the disclosures due consumers 

Evaluated under current consumer protection and fair lending laws?

Is the information easily accessible and easily understood?

Findings The FDIC undertakes an extensive and expanding number of activities to provide information on consumers’

rights and the disclosures due them under consumer protection and fair lending laws. A wide array of 

materials detail consumers’ rights; provide consumer information and answers to questions concerning 

deposit insurance, banks, and consumer rights; and offer practical guidance on how to become a better 

informed user of financial services. These are readily accessible and widely distributed on the FDIC’s 

Web site and at outreach seminars and workshops. Many materials are also available in hard copy and 

some in multiple languages. For example, Spanish, Korean and Chinese versions of information on how 

FDIC deposit insurance works are in print. The FDIC also has been actively involved in consumer education

and disclosure with the creation, implementation and ongoing support of programs such as Money Smart 

and “EDIE” – the FDIC’s Electronic Deposit Insurance Estimator. In addition, the FDIC conducts evaluations

to assess the effectiveness of its activities and program modifications and improvements. The Program 

Evaluation team found that through its extensive information dissemination efforts, consumer education 

and outreach activities, and procedures to handle consumer complaints and inquiries, the FDIC has

appropriate measures in place to promote the protection of consumers’ rights.