PERFORMANCE RESULTS SUMMARY 51

SUMMARY OF 2013 PERFORMANCE 

RESULTS BY PROGRAM

The FDIC successfully achieved 30 of the 31 annual 

performance targets established in its 2013 Annual 

Performance Plan. One target regarding the survey of the 

unbanked and underbanked was deferred. There were no 

instances in which 2013 performance had a material adverse 

effect on the successful achievement of the FDIC’s mission 

or its strategic goals and objectives regarding its major 

program responsibilities.

Additional key accomplishments are noted below.

Program Area Performance Results

Insurance ♦ Updated the FDIC Board of Directors on loss, income, and reserve ratio projections 

for the Deposit Insurance Fund at the April and October meetings. 

♦ Briefed the FDIC Board of Directors in April and October on progress in meeting 

the goals of the Restoration Plan. Based upon current fund projections, no changes 

to assessment rate schedules were necessary. 

♦ Completed reviews of the recent accuracy of the contingent loss reserves. 

♦ Researched and analyzed emerging risks and trends in the banking sector, financial 

markets, and the overall economy to identify issues affecting the banking industry 

and the Deposit Insurance Fund. 

♦ Provided policy research and analysis to FDIC leadership in support of the 

implementation of financial industry regulation, as well as support for testimony 

and speeches. 

♦ Published economic and banking information and analyses through the FDIC 

Quarterly, FDIC Quarterly Banking Profile (QBP), FDIC State Profiles, and the 

Center for Financial Research Working Papers.

♦ Operated the Electronic Deposit Insurance Estimator (EDIE), which had 458,635 

user sessions in 2013. 

III. Performance

Results

Summary
ANNUAL REPORT 2013

52 PERFORMANCE RESULTS SUMMARY

Program Area Performance Results

Supervision and 

Consumer Protection

♦ Participated in the examinations of selected financial institutions, for which the 

FDIC is not the primary federal regulator, to assess risk to the DIF and carry out 

back-up authorities.

♦ Developed processes for reviewing Section 165(d) and IDI plan submissions for 

Third Wave Companies.

♦ Released a template for annual stress test reporting and documentation for large 

institutions. 

♦ Worked with other federal banking regulators and the Basel Committee on Banking 

Supervision to develop proposals to strengthen capital and liquidity requirements.

♦ Held an Advisory Committee on Community Banking Meeting focused on IT and 

cybersecurity issues affecting community banks, including IT examinations and the 

evolving payment system.

♦ Developed a community bank cybersecurity exercise.

Receivership 

Management

♦ Terminated at least 75 percent of new receiverships that are not subject to lossshare agreements, structured sales, or other legal impediments within three years 

of the date of failure.

♦ Made final decisions for 87 percent of all investigated claim areas that were within 

18 months of the institution’s failure date.
PERFORMANCE RESULTS SUMMARY 53

2013 BUDGET AND EXPENDITURES 

(including Allocated Support) Dollars in Millions

2013 BUDGET AND EXPENDITURES 

BY PROGRAM 

(Excluding Investments)

The FDIC budget for 2013 totaled $2.7 billion. Budget 

amounts were allocated as follows: $240 million, or 

9 percent, to Corporate General and Administrative 

expenditures; $286 million, or 11 percent, to the Insurance 

program; $1.0 billion, or 38 percent, to the Supervision and 

Consumer Protection program; and $1.1 billion, or 

42 percent, to the Receivership Management program. 

Actual expenditures for the year totaled $2.3 billion. 

Actual expenditures amounts were allocated as follows: 

$182 million, or 8 percent, to Corporate General and 

Administrative expenditures; $276 million, or 12 percent, to 

the Insurance program; $919 million, or 40 percent, to the 

Supervision and Consumer Protection program; and $910 

million, or 40 percent, to the Receivership Management 

program. 

Insurance

Program

Supervision and

Consumer Protection

Program

Receivership

Management

Program

General and

Administrative

$1,200

Budget Expenditures

$900

$600

$300

$0
ANNUAL REPORT 2013

54 PERFORMANCE RESULTS SUMMARY

PERFORMANCE RESULTS BY PROGRAM AND STRATEGIC GOAL

2013 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 an institution failure 

that depositors have 

access to insured funds.

Insured depositor losses 

resulting from a financial 

institution failure.

Depositors have access to insured funds 

within one business day if the failure occurs 

on a Friday.

Depositors have access to insured funds 

within two business days if the failure occurs 

on any other day of the week.

Depositors do not incur any losses on 

insured deposits.

No appropriated funds are required to pay 

insured depositors.

Achieved.

See pg. 38.

Achieved.

See pg. 38.

Achieved.

See pg. 38.

Achieved.

See pg. 38.

2 Disseminate data and 

analyses on issues and 

risks affecting the financial 

services industry to 

bankers, supervisors, 

the public, and other 

stakeholders on an 

ongoing basis.

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.

Undertake industry outreach activities to 

inform bankers and other stakeholders 

about current trends, concerns, and other 

available FDIC resources.

Achieved. 

See pg. 51.

Achieved.

See pg. 51.

3 Adjust assessment rates, 

as necessary, to achieve a 

DIF reserve ratio of at least 

1.35 percent of estimated 

insured deposits by 

September 30, 2020.

Updated fund balance 

projections and 

recommended changes 

to assessment rates.

Demonstrated progress in 

achieving the goals of the 

Restoration Plan.

Provide updated fund balance projections 

to the FDIC Board of Directors by June 30, 

2013, and December 31, 2013.

Recommend changes to deposit insurance 

assessment rates to the FDIC Board of 

Directors as necessary.

Provide progress reports to the FDIC 

Board of Directors by June 30, 2013, and 

December 31, 2013.

Achieved.

See pg. 51.

Achieved.

See pg. 51.

Achieved.

See pg. 51.
PERFORMANCE RESULTS SUMMARY 55

2013 INSURANCE PROGRAM RESULTS (continued)

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

#

Annual 

Performance Goal Indicator Target Results

4 Expand and strengthen 

the FDIC’s participation 

and leadership role 

in supporting robust 

international deposit 

insurance and banking 

systems.

Initiatives to advance the 

FDIC’s global leadership 

and participation.

Provision of technical 

assistance to foreign 

counterparts.

Maintain open dialogue with counterparts 

in strategically important countries as well 

as international financial institutions and 

partner U.S. agencies.

Conduct workshops and assessments of 

deposit insurance systems based on the 

methodology for assessment of compliance 

with the Basel Committee on Bank 

Supervision (BCBS) and the International 

Association of Depositor Insurers (IADI) Core 

Principles for Effective Deposit Insurance 

Systems.

Support visits, study tours, and longer-term 

technical assistance and training programs 

for foreign jurisdictions to strengthen their 

deposit insurance organizations, central 

banks, and bank supervisors.

Achieved.

See pgs. 40-42.

Achieved.

See pgs. 40-41.

Achieved.

See pg. 42.

5 Provide educational 

information to insured 

depository institutions 

and their customers to 

help them understand 

the rules for determining 

the amount of insurance 

coverage on deposit 

accounts.

Timeliness of responses 

to deposit insurance 

coverage inquiries.

Initiatives to increase 

public awareness of 

deposit insurance 

coverage changes.

Respond within two weeks to 95 percent 

of written inquiries from consumers and 

bankers about FDIC deposit insurance 

coverage.

Conduct at least 15 telephone or in-person 

seminars for bankers on deposit insurance 

coverage.

Achieved.

 See pg. 36.

Achieved.

See pg. 36.
ANNUAL REPORT 2013

56 PERFORMANCE RESULTS SUMMARY

2013 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 FDICsupervised depository 

institutions. When 

problems are identified, 

promptly implement 

appropriate corrective 

programs, and follow up 

to ensure that identified 

problems are corrected.

Percentage of required 

examinations conducted 

in accordance with 

statutory requirements 

and FDIC policy.

Implement appropriate 

corrective program where 

violations are identified.

Conduct all required risk management 

examinations within the time frames 

prescribed by statute and FDIC policy.

Implement formal or informal enforcement 

actions within 60 days for at least 90 percent 

of all institutions that are newly downgraded 

to a composite Uniform Financial Institutions 

Rating of 3, 4, or 5.

Achieved

See pg. 19.

Achieved

See pg. 20.

2 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. 

Conduct all Bank Secrecy Act examinations 

within the time frames prescribed by statute 

and FDIC policy.

Achieved.

See pg. 19.

3 More closely align 

regulatory capital 

standards with risk and 

ensure that capital is 

maintained at prudential 

levels.

Completion of review of 

comments and impact 

analyses of changes to 

regulatory capital rules.

Issuance by the federal 

banking agencies of 

final regulatory capital 

rules to implement 

internationally agreed 

upon enhancements 

to regulatory capital 

standards and remove 

references to credit 

ratings consistent with 

DFA.

Complete by June 30, 2013, the review of 

comments and impact analysis of June 2012 

proposed interagency changes to regulatory 

capital rules.

Issue by December 31, 2013, final regulatory 

capital rules.

Achieved.

See pgs. 23-24.

Achieved.

See pgs. 23-24.

4 Identify and address risks 

in financial institutions 

designated as systemically 

important.

Timely completion of 

statutory and regulatory 

requirements under Title I 

of DFA.

Input from Systemic 

Resolution Advisory 

Committee.

Complete, in collaboration with the Federal 

Reserve Board and in accordance with 

statutory and regulatory time frames, all 

required actions associated with the review 

of Section 165(d) resolution plans submitted 

under Title I of DFA.

Hold at least one meeting of the Systemic 

Resolution Advisory Committee to obtain 

feedback on resolving systemically important 

financial companies.

Achieved.

See pgs. 15-16.

Achieved.

See pg. 18.
PERFORMANCE RESULTS SUMMARY 57

2013 SUPERVISION AND CONSUMER PROTECTION 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 on-site CRA and 

compliance examinations 

to assess compliance 

with applicable laws and 

regulations by FDICsupervised depository 

institutions. When 

violations are identified, 

promptly implement 

appropriate corrective 

programs and follow up 

to ensure that identified 

problems are corrected.

Percentage of 

examinations conducted 

in accordance with the 

time frames prescribed by 

FDIC policy.

Implementation of 

corrective programs.

Conduct 100 percent of required 

examinations within the time frames 

established by FDIC policy.

Conduct visits and/or follow-up examinations 

in accordance with established FDIC policies 

and ensure that the requirements of any 

required corrective program have been 

implemented and are effectively addressing 

identified violations.

Achieved.

See pg. 19. 

Achieved.

See pgs. 20-21. 

6 Effectively investigate 

and respond to written 

consumer complaints 

and inquiries about 

FDIC-supervised financial 

institutions.

Timely responses to 

written consumer 

complaints and inquiries.

Respond 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.

See pg. 35.

7 Promote economic 

inclusion and access to 

responsible financial 

services through 

supervisory, research, 

policy, and consumer/

community affairs 

initiatives.

Completion of planned 

initiatives.

Conduct the third biennial FDIC National 

Survey of Unbanked and Underbanked 

Households (conducted jointly with the U.S. 

Census Bureau).

Initiate work on the Survey of Banks’ Efforts 

to Serve the Unbanked and Underbanked.

Implement the strategy outlined in the work 

plan approved by the Advisory Committee 

on Economic Inclusion to support the 

responsible use of technology to expand 

banking services to the unbanked.

Achieved.

See pg. 31.

Deferred.

See pg. 31.

Achieved.

See pgs. 30-31.
ANNUAL REPORT 2013

58 PERFORMANCE RESULTS SUMMARY

2013 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.

See pg. 38.

2 Value, manage, and 

market assets of failed 

institutions and their 

subsidiaries in a timely 

manner to maximize net 

return.

Percentage of the assets 

marketed for each failed 

institution.

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.

See pg. 38.

3 Manage the receivership 

estate and its subsidiaries 

toward an orderly 

termination.

Timely termination of new 

receiverships.

Terminate at least 75 percent of new 

receiverships that are not subject to lossshare agreements, structured sales, or other 

legal impediments, within three years of the 

date of failure.

Achieved.

See pg. 52.

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, make a 

decision to close or pursue professional 

liability claims within 18 months of the failure 

of an insured depository institution.

Achieved.

See pg. 52.
PERFORMANCE RESULTS SUMMARY 59

PRIOR YEARS’ PERFORMANCE RESULTS

Refer to the respective full Annual Report of prior years for more information on performance results for those years. Minor 

wording changes may have been made to reflect current goals and targets. (Shaded areas indicate no such target existed for 

that respective year.)

INSURANCE PROGRAM RESULTS

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

Annual Performance Goals and Targets 2012 2011 2010

1. Respond promptly to all financial institution closings and related emerging issues.

♦ Depositors have access to insured funds within one business day if the failure 

occurs on a Friday. Achieved. Achieved. Achieved.

♦ Depositors have access to insured funds within two business days if the failure 

occurs on any other day of the week. Achieved. Achieved. Achieved.

♦ Depositors do not incur any losses on insured deposits. Achieved. Achieved. Achieved.

♦ No appropriated funds are required to pay insured depositors. Achieved. Achieved. Achieved.

2. Deepen the FDIC’s understanding of the future of community banking.

♦ Conduct a nationwide conference on the future of community banking during 

the first quarter of 2012. Achieved.

♦ Publish by December 31, 2012, a research study on the future of community 

banks, focusing on their evolution, characteristics, performance, challenges, 

and role in supporting local communities.

Achieved.

3. Disseminate data and analyses on issues and risks affecting the financial services 

industry to bankers, supervisors, the public, and other stakeholders on an 

ongoing basis.

♦ Disseminate results of research and analyses in a timely manner through 

regular publications, ad hoc reports, and other means. Achieved. Achieved. Achieved.

♦ Industry outreach activities are undertaken to inform bankers and other 

stakeholders about current trends, concerns, and other available FDIC 

resources.

Achieved. Achieved. Achieved.

4. Adjust assessment rates, as necessary, to achieve a DIF reserve ratio of at least 

1.35 percent of estimated insured deposits by September 30, 2020.

♦ Provide updated fund projections to the FDIC Board of Directors by June 30, 

2012, and December 31, 2012. Achieved.

♦ Provide updated fund projections to the FDIC Board of Directors by June 30, 

2011, and December 31, 2011. Achieved.

♦ Provide progress reports to the FDIC Board of Directors by June 30, 2012, and 

December 31, 2012. Achieved.

♦ Provide to the Chairman by September 1, 2012, an analysis, with 

recommendations where appropriate, of refinements to the deposit insurance 

pricing methodology for banks with assets under $10 billion.

Achieved.

♦ Recommend changes to deposit insurance assessment rates for the DIF to the 

FDIC Board as necessary. Achieved. Achieved.

♦ Provide updates to the FDIC Board by June 30, 2011, and December 31, 2011. Achieved.
ANNUAL REPORT 2013

60 PERFORMANCE RESULTS SUMMARY

INSURANCE PROGRAM RESULTS (continued)

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

Annual Performance Goals and Targets 2012 2011 2010

5. Set assessment rates to restore the insurance fund reserve ratio to the statutory 

minimum of at least 1.15 percent of estimated insured deposits by year-end 

2016, in accordance with the Amended Restoration Plan.

♦ 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.

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

6. Provide educational information to insured depository institutions and their 

customers to help them understand the rules for determining the amount of 

insurance coverage on deposit accounts.

♦ Respond within two weeks to 95 percent of written inquiries from consumers 

and bankers about FDIC deposit insurance coverage. Achieved. Achieved.

♦ Conduct at least 12 telephone or in-person seminars for bankers on deposit 

insurance coverage. Achieved. Achieved.

7. Expand and strengthen the FDIC’s participation and leadership role in providing 

technical guidance, training, consulting services, and information to international 

governmental banking and deposit insurance organizations; and in supporting 

robust international deposit insurance and banking systems.

♦ Maintain open dialogue with counterparts in strategically important countries 

as well as international financial institutions and partner U.S. agencies. Achieved.

♦ Target capacity building based on the assessment methodology of the BCBS 

and IADI Core Principles for an Effective Deposit Insurance System. Achieved.

♦ Lead and support the Association of Supervisors of Banks of the America’s 

efforts to promote sound banking principles throughout the Western 

Hemisphere.

Achieved.

♦ Undertake outreach activities to inform and train foreign bank regulators and 

deposit insurers. Achieved. Achieved.

♦ Foster strong relationships with international banking regulators and 

associations that promote sound banking supervision and regulation, failure 

resolutions, and deposit insurance practices. 

Achieved. Achieved. Achieved.

♦ Develop methodology and lead the International Association of Deposit 

Insurers training on the methodology for assessing compliance with 

implementation of the Core Principles for Effective Deposit Insurance Systems.

Achieved. Achieved.
PERFORMANCE RESULTS SUMMARY 61

SUPERVISION AND CONSUMER PROTECTION PROGRAM RESULTS

Strategic Goal: FDIC-supervised institutions are safe and sound.

Annual Performance Goals and Targets 2012 2011 2010

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.

♦ One hundred percent of required risk management examinations are 

conducted on schedule. Achieved.

♦ Conduct all required risk management examinations within the time frames 

prescribed by statute and FDIC policy. Achieved. Achieved.

2. For all institutions that are assigned a composite Uniform Financial Institutions 

Rating of 3, 4, or 5, conduct on-site visits within six months after implementation 

of a corrective program. Ensure during these visits and subsequent examinations 

that the institution is fulfilling the requirements of the corrective program that 

has been implemented and that the actions taken are effectively addressing the 

underlying concerns identified during the examination.

♦ Conduct 100 percent of required on-site visits within six months after 

implementation of a corrective program. Achieved. Achieved.

3. Complete the transfer of personnel and supervisory responsibility for statechartered thrifts from the Office of Thrift Supervision to the FDIC in accordance 

with approved plans and statutory requirements.

♦ Complete the transfer of supervisory responsibility for state-chartered thrifts by 

July 21, 2011. Achieved.

♦ Identify the OTS employees to be transferred and complete the transfer of 

those employees to the FDIC no later than 90 days after July 21, 2011. Achieved.

4. 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.

♦ 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 follow-up examinations are conducted within 12 

months of completion of the prior examination to confirm that identified 

problems have been corrected.

Achieved.

5. Assist in protecting the infrastructure of the U.S. banking system against terrorist 

financing, money laundering, and other financial crimes.

♦ Conduct all Bank Secrecy Act examinations within the time frames prescribed 

by statute and FDIC policy. Achieved. Achieved. Achieved

6. More closely align regulatory capital standards with risks and ensure that capital 

is maintained at prudential levels. 

♦ Complete by December 31, 2012, final rules addressing alternative standards 

of creditworthiness for credit ratings in the risk-based capital rules.

Not 

Achieved.

♦ Complete by December 31, 2012, a final rule for the Basel III capital standards. Not 

Achieved.
ANNUAL REPORT 2013

62 PERFORMANCE RESULTS SUMMARY

SUPERVISION AND CONSUMER PROTECTION PROGRAM RESULTS (Continued)

Strategic Goal: FDIC-supervised institutions are safe and sound.

Annual Performance Goals and Targets 2012 2011 2010

♦ Complete by July 31, 2012, a final rule on the Market Risk Amendment, 

including finalizing alternatives to the use of credit ratings in accordance with 

DFA requirements.

Achieved.

♦ Complete by June 30, 2011, the final rule addressing capital floors for banking 

organizations. Achieved.

♦ Complete by September 30, 2011, the Basel III Notice of Proposed Rulemaking 

(NPR) for the new definition of capital, the July 2009 enhancements to 

resecuritizations risk weights, and securitization disclosures.

Deferred.

♦ Complete by September 30, 2011, the Basel NPR for the new leverage ratio. Deferred.

♦ Complete by September 30, 2011, the Basel NPR for the new liquidity 

requirements. Deferred.

♦ Complete by December 31, 2011, the final rule on the Market Risk 

Amendment (includes finalizing alternatives to the use of credit ratings in 

accordance with DFA requirements).

Deferred.

♦ Complete by September 30, 2011, the NPR for the Standardized Framework. Deferred.

7. More closely align regulatory capital with risk and ensure that capital is 

maintained at prudential levels.

♦ Complete by December 31, 2010, the rulemaking for implementing the 

Standardized Approach for an appropriate subset of U.S. banks. Deferred.

♦ Complete by December 31, 2010, the rulemaking for amending the floors for 

banks that calculate their risk-based capital requirements under the Advanced 

Approaches Capital rule to ensure capital requirements meet safety-andsoundness objectives.

Not 

Achieved.

♦ Complete by December 31, 2010, the rulemaking for implementing revisions 

to the Market Risk Amendment of 1996. Deferred.

♦ Complete by December 31, 2010, the rulemaking for implementing revisions 

to regulatory capital charges for resecuritizations and asset-backed commercial 

paper liquidity facilities.

Deferred.

8. Identify and address risks in financial institutions designated as systemically 

important.

♦ Take all steps necessary to facilitate timely issuance of implementing 

regulations and related policy guidance on proprietary trading and other 

investment restrictions (also known as the Volcker Rule).

Achieved.

♦ Take all steps necessary to facilitate timely issuance of implementing 

regulations and related policy guidance on restrictions on federal assistance to 

swap entities.

Achieved.

♦ Take all steps necessary to facilitate timely issuance of implementing 

regulations and related policy guidance on capital and margin and other 

requirements for OTC derivatives.

Achieved.

♦ Take all steps necessary to facilitate timely issuance of implementing 

regulations and related policy guidance on credit risk retention requirements 

for securitizations.

Achieved.
PERFORMANCE RESULTS SUMMARY 63

SUPERVISION AND CONSUMER PROTECTION PROGRAM RESULTS (Continued)

Strategic Goal: FDIC-supervised institutions are safe and sound.

Annual Performance Goals and Targets 2012 2011 2010

♦ Take all steps necessary to facilitate timely issuance of implementing 

regulations and related policy guidance on enhanced compensation structure 

and incentive compensation requirements.

Achieved.

♦ Monitor risk within and across large, complex firms to assess the potential 

need for, and obtain the information that would be required to carry out, if 

necessary, an FDIC resolution of the institution.

Achieved.

♦ Establish by June 30, 2012, with the FRB, policies and procedures for 

collecting, processing, and reviewing for completeness and sufficiency holding 

company and insure depository institution (IDI) resolution plans submitted 

under Section 165(d) of DFA. 

Achieved.

♦ Complete, with the FRB and in accordance with prescribed time frames, the 

review of holding company and IDI resolution plans submitted under Section 

165(d) of DFA.

Achieved.

♦ Establish an ongoing FDIC monitoring program for all covered financial 

institutions. Achieved.

♦ Complete rulemaking to establish (with the Board of Governors of the Federal 

Reserve System) criteria for resolution plans to be submitted by systemically 

important institutions.

Achieved.

9. Facilitate more effective regulatory compliance so as to reduce regulatory burden 

on the banking industry, where appropriate, while maintaining the independence 

and integrity of the FDIC’s risk management and consumer compliance 

supervisory programs.

♦ Issue by March 31, 2011, a revised corporate directive on the issuance of 

Financial Institution Letters (FILs) that includes a requirement that all FILs 

contain an informative section as to their applicability to smaller institutions 

(total assets under $1 billion).

Achieved.

♦ Complete by June 30, 2011, a review of all recurring questionnaires and 

information requests to the industry and submit a report to FDIC management 

with recommendations on improving efficiency and ease of use, including 

a scheduled plan for implementing these revisions. Carry out approved 

recommendations in accordance with the plan.

Achieved.
ANNUAL REPORT 2013

64 PERFORMANCE RESULTS SUMMARY

SUPERVISION AND CONSUMER PROTECTION PROGRAM RESULTS (Continued)

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

Annual Performance Goals and Targets 2012 2011 2010

1. Conduct on-site CRA and compliance examinations to assess compliance with 

applicable laws and regulations by FDIC-supervised depository institution.

♦ Conduct 100 percent of required examinations within the time frames 

established by FDIC policy. Achieved.

♦ One hundred percent of required examinations are conducted on schedule. Achieved.

2. Take prompt and effective supervisory action to monitor and address problems 

identified during compliance examinations of FDIC-supervised institutions that 

received an overall 3, 4, or 5 rating for compliance with consumer protection and 

fair lending laws. Ensure that each institution is fulfilling the requirements of any 

corrective program that has been implemented and that the actions taken are 

effectively addressing the underlying concerns identified during the examination.

♦ Conduct follow-up examinations or on-site visits for any unfavorably rated (3, 4, 

or 5) institution within 12 months of completion of the prior examination. Achieved.

♦ One hundred percent of follow-up examinations or visitations are conducted 

within 12 months from the date of a formal enforcement action to confirm 

compliance with the prescribed enforcement action.

Achieved.

♦ For all institutions that are assigned a compliance rating of 3, 4, or 5, conduct 

follow-up examinations or on-site visits within 12 months to ensure that each 

institution is fulfilling the requirements of any corrective programs that have 

been implemented and that the actions taken are effectively addressing the 

underlying concerns identified during the examination.

Achieved.

3. Complete the transfer of personnel and supervisory responsibility for compliance 

examinations of FDIC supervised institutions with more than $10 billion in assets 

and their affiliates from the FDIC to the new Consumer Financial Protection 

Bureau (CFPB) in accordance with statutory requirements.

♦ Complete by July 21, 2011, the transfer of supervisory responsibility from the 

FDIC to the CFPB. Achieved.

♦ Identify the FDIC employees to be transferred to the CFPB and transfer them 

in accordance with established time frames. Achieved.

4. Establish an effective working relationship with the new Consumer Financial 

Protection Bureau (CFPB).

♦ Complete the transfer of consumer compliant processing responsibilities within 

the purview of the CFPB within approved time frames. Achieved.

5. Effectively investigate and respond to written consumer complaints and inquiries 

about FDIC-supervised financial institutions.

♦ Respond 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 acknowledgment within two weeks.

Achieved. Achieved. Achieved.

6. 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.

♦ Launch the FDIC Model Safe Accounts Pilot, begin data collection on the 

accounts from banks, and start reporting on results of the pilot. Achieved.
PERFORMANCE RESULTS SUMMARY 65

SUPERVISION AND CONSUMER PROTECTION PROGRAM RESULTS (Continued)

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

Annual Performance Goals and Targets 2012 2011 2010

♦ Continue to promote the results of the FDIC Small-Dollar Loan Pilot and 

research opportunities for bringing small-dollar lending programs to scale, 

including exploring a test of employer-based lending using the federal 

workforce.

Achieved.

♦ Engage in efforts to support safe mortgage lending in low- and moderateincome communities. Achieved.

♦ 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.

7. Promote economic inclusion and access to responsible financial services through 

supervisory, reach, policy, and consumer/community affairs initiatives.

♦ Complete and publish results of the second biennial National Survey of 

Unbanked and Underbanked Households and Banks’ Efforts to Serve the 

Unbanked and Underbanked.

Achieved.

♦ Plan and hold meetings of the Advisory Committee on Economic Inclusion to 

gain feedback and advice on FDIC efforts to promote inclusion. Achieved.

♦ Coordinate 25 CRA community forums nationwide to facilitate community 

development opportunities for financial institutions. Achieved.
ANNUAL REPORT 2013

RECEIVERSHIP MANAGEMENT PROGRAM RESULTS

Strategic Goal: Resolutions are orderly and receiverships are managed effectively.

Annual Performance Goals and Targets 2012 2011 2010

1. Market failing institutions to all known qualified and interested potential bidders.

♦ Contact all known qualified and interested bidders. Achieved. Achieved. Achieved.

2. Value, manage, and market assets of failed institutions and their subsidiaries in a 

timely manner to maximize net return.

♦ 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. Achieved. Achieved.

♦ 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.

♦ 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. Achieved. 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.

♦ For 80 percent of all claim areas, a decision is made to close or pursue 

professional liability claims within 18 months of the failure date of an insured 

depository institution.

Achieved. Achieved. Achieved.

5. Complete reviews of all loss-share and Limited Liability Corporation (LLC) 

agreements to ensure full compliance with the terms and conditions of the 

agreements.

♦ Complete reviews of 100 percent of the loss-share and LLC agreements active 

as of December 31, 2011, and December 31, 2010, to ensure full compliance 

with the terms and conditions of the agreements.

Achieved. Achieved.

♦ Review the final report and implement an action plan to address the report’s 

finding and recommendations for 80 percent of the loss-share reviews and 70 

percent of the LLC reviews.

Achieved.

♦ Review the final report and implement an action plan to address the report’s 

finding and recommendations for 75 percent of the loss-share reviews and 50 

percent of the LLC reviews, including all reviews of agreements totaling more 

than $1.0 billion (gross book value).

Achieved.

66 PERFORMANCE RESULTS SUMMARY