FEDERAL DEPOSIT INSURANCE CORPORATION ANNUAL REPORT 2023 3 

CONTENTS

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

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

Message from the Chief Financial Officer.................................................................. 21

FDIC Senior Leaders ............................................................................................... 23

FDIC 90th Anniversary............................................................................................ 24

I. Management’s Discussion and Analysis ........................................................... 25

Overview...............................................................................................................................27

Action Plan for a Safe, Fair and Inclusive Work Environment ...........................................27

Deposit Insurance ................................................................................................................28

Supervision...........................................................................................................................31

Research ............................................................................................................................... 51

Community Banking ............................................................................................................54

Activities Related to Large and Complex Financial Institutions ........................................57

Depositor and Consumer Protection ..................................................................................66

Failed Bank Resolution and Receivership Management....................................................79

Minority Depository Institutions and Community Development Financial Institutions ..85

Diversity, Equity, Inclusion, and Accessibility.....................................................................88

Information Technology Modernization .............................................................................92

International Outreach ........................................................................................................96

Effective Management of Strategic Resources ...................................................................98

II. Performance Results Summary .................................................................... 101

Summary of 2023 Performance Results by Program .......................................................103

Performance Results by Program and Strategic Goal......................................................103

III. Financial Highlights..................................................................................... 121

Deposit Insurance Fund Performance ..............................................................................123

IV. Budget and Spending................................................................................... 127

2023 FDIC Operating Budget .............................................................................................128

2023 Budget and Expenditures by Program.....................................................................129

Investment Spending.........................................................................................................130

V. Financial Section......................................................................................... 131

Deposit Insurance Fund (DIF) ............................................................................................132

FSLIC Resolution Fund (FRF)..............................................................................................148

Government Accountability Office Auditor’s Report .......................................................155

Management’s Report on Internal Control over Financial Reporting ............................. 161

Management’s Response to the Auditor’s Report............................................................162

VI. Risk Management and Internal Controls........................................................ 163

Program Evaluation ...........................................................................................................166

Internal Control Program – Fraud Risk Management.......................................................168

Management Report on Final Actions...............................................................................168

VII. Appendices................................................................................................. 177

A. Key Statistics.................................................................................................................. 178

B. More About the FDIC......................................................................................................190

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

Performance Challenges Facing the FDIC ..................................................................... 201

D. Acronyms ....................................................................................................................... 241