ANNUAL REPORT 3 

2020

 

 

 

 

 

 

 

TABLE OF CONTENTS 

Mission, Vision, and Values ............................................................................................................................... 4 

Message from the Chairman ...............................................................................................................................5 

Message from the Chief Financial Officer......................................................................................................... 9 

Response to Coronavirus Disease 2019 (COVID-19) ........................................................................................11 

Diversity and Inclusion...................................................................................................................................... 18 

I. Management’s Discussion and Analysis.................................................................................................23 

Overview............................................................................................................................................................................................................25 

Deposit Insurance ............................................................................................................................................................................................25 

Supervision ......................................................................................................................................................................................................26 

Research ............................................................................................................................................................................................................36 

Innovation/Financial Technology ................................................................................................................................................................37 

Community Banking Research Program.....................................................................................................................................................39 

Activities Related to Large and Complex Financial Institutions, including Systemically Important Financial Institutions........42 

Depositor and Consumer Protection...........................................................................................................................................................46 

Failure Resolution and Receivership Management...................................................................................................................................52 

Information Technology.................................................................................................................................................................................54 

International Outreach ..................................................................................................................................................................................55 

Efective Management of Strategic Resources ...........................................................................................................................................56 

II. Performance Results Summary .............................................................................................................. 59 

Summary of 2020 Performance Results by Program ................................................................................................................................61 

Performance Results by Program and Strategic Goal...............................................................................................................................61 

Prior Years’ Performance Results ..................................................................................................................................................................69 

III. Financial Highlights ................................................................................................................................. 81 

Deposit Insurance Fund Performance ........................................................................................................................................................83 

IV. Budget and Spending ............................................................................................................................... 87 

FDIC Operating Budget ...................................................................................................................................................................................89 

2020 Budget and Expenditures by Program ..............................................................................................................................................90 

Investment Spending......................................................................................................................................................................................91 

V. Financial Section.......................................................................................................................................93 

Deposit Insurance Fund (DIF) ........................................................................................................................................................................94 

FSLIC Resolution Fund (FRF)....................................................................................................................................................................... 110 

Government Accountability Ofice Auditor’s Report.............................................................................................................................. 117 

Management’s Report on Internal Control over Financial Reporting................................................................................................. 123 

Management’s Response to the Auditor’s Report .................................................................................................................................. 124 

VI. Risk Management and Internal Controls.............................................................................................. 125 

Program Evaluation...................................................................................................................................................................................... 127 

Fraud Reduction and Data Analytics Act of 2015.................................................................................................................................... 128 

Management Report on Final Actions ...................................................................................................................................................... 128 

VII. Appendices............................................................................................................................................... 133 

A. Key Statistics.............................................................................................................................................................................................. 135 

B. More About the FDIC................................................................................................................................................................................ 147 

C. Ofice of Inspector General’s Assessment of the Management and Performance Challenges Facing the FDIC.................... 156 

D. Acronyms and Initialisms ....................................................................................................................................................................... 205