2 FEDERAL DEPOSIT INSURANCE CORPORATION

FEDERAL DEPOSIT INSURANCE CORPORATION

550 17th Street NW, Washington, DC 20429 OFFICE OF THE CHAIRMAN

February 18, 2016

Dear Sir,

In accordance with:

• the provisions of Section 17(a) of the Federal Deposit Insurance Act,

• the Chief Financial Officers Act of 1990, Public Law 101-576, 

• the Government Performance and Results Act of 1993 (as amended) and the GPRA 

Modernization Act of 2010,

• the provisions of Section 5 (as amended) of the Inspector General Act of 1978, and 

• the Reports Consolidation Act of 2000, 

the Federal Deposit Insurance Corporation (FDIC) is pleased to submit its 2015 Annual Report

(also referred to as the Performance and Accountability Report), which includes the audited financial statements 

of the Deposit Insurance Fund (DIF) and the Federal Savings and Loan Insurance Corporation (FSLIC) 

Resolution Fund (FRF). 

In accordance with the Reports Consolidation Act of 2000, the FDIC assessed the reliability of the performance 

data contained in this report. No material inadequacies were found, and the data are considered to be complete 

and reliable. 

Based on internal management evaluations, and in conjunction with the results of independent financial 

statement audits, the FDIC can provide reasonable assurance that the objectives of Section 2 (internal 

controls) and Section 4 (financial management systems) of the Federal Managers’ Financial Integrity Act of 

1982 have been achieved, and that the FDIC has no material weaknesses. In addition, the U.S. Government 

Accountability Office did not identify any significant deficiencies in the FDIC’s internal controls for 2015. 

We are committed to maintaining effective internal controls corporate-wide in 2016. 

Sincerely,

Martin J. Gruenberg

Chairman

The President of the United States

The President of the United States Senate

The Speaker of the United States House of Representatives
ANNUAL REPORT 2015 3

TABLE OF CONTENTS

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

Message from the Chief Financial Officer................................................................................. 11

I. Management’s Discussion and Analysis ........................................................................... 13

The Year in Review.............................................................................................................. 15

Overview.....................................................................................................................................15

Implementation of Key Regulations ...........................................................................................15

Deposit Insurance........................................................................................................................19

Activities Related to Systemically Important Financial Institutions ..............................................21

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

Receivership Management ...........................................................................................................44

International Outreach ...............................................................................................................47

Minority and Women Inclusion ..................................................................................................50

Effective Management of Strategic Resources...............................................................................52

II. Performance Results Summary ......................................................................................... 57

Summary of 2015 Performance Results by Program ....................................................................59

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

Prior Years’ Performance Results ..................................................................................................68

III. Financial Highlights ............................................................................................................ 77

Deposit Insurance Fund Performance .........................................................................................79

IV. FDIC Budget and Spending ................................................................................................ 83

Corporate Operating Budget .......................................................................................................85

2015 Budget and Expenditures by Program.................................................................................86

Investment Spending ...................................................................................................................87

V. Financial Section................................................................................................................. 89

Deposit Insurance Fund (DIF) ....................................................................................................90

FSLIC Resolution Fund (FRF)..................................................................................................111

Government Accountability Office Auditor’s Report..................................................................120

Management’s Report on Internal Control over Financial Reporting .........................................127

Management’s Response to the Auditor’s Report........................................................................128

VI. Corporate Management Control..................................................................................... 129

Management Report on Final Actions .......................................................................................131

VII. Appendices ........................................................................................................................ 135

A. Key Statistics........................................................................................................................137

B. More About the FDIC.........................................................................................................150

C. Office of Inspector General’s Assessment of the Management and Performance 

Challenges Facing the FDIC ...............................................................................................159

D. Acronyms.............................................................................................................................166
INSURING DEPOSITS • EXAMINING AND SUPERVISING 

INSTITUTIONS • 

MANAGING RECEIVERSHIPS • EDUCATING CONSUMERS

In its unique role as deposit insurer of banks and savings associations, and in cooperation 

with the other state and federal regulatory agencies, the FDIC promotes the safety and 

soundness of the U.S. financial system and insured depository institutions by identifying, 

monitoring, and addressing risks to the Deposit Insurance Fund (DIF).

The FDIC promotes public understanding and the development of sound public policy 

by providing timely and accurate financial and economic information and analyses. It 

minimizes disruptive effects from the failure of financial institutions and assures fairness 

in the sale of financial products and the provision of financial services.

The FDIC’s long and continuing tradition of excellence in public service is supported 

and sustained by a highly skilled and diverse workforce that continuously monitors and 

responds rapidly and successfully to changes in the financial environment. 

At the FDIC, we are working together to be the best.