CONTENTS 

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

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

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

Continuing to Address the Impact of COVID-19 ........................................................... 13 

Diversity, Equity, Inclusion, and Accessibility ............................................................. 15 

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

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

Deposit Insurance .................................................................................................................27 

Supervision ...........................................................................................................................28 

Research ................................................................................................................................49 

Innovation/Financial Technology ........................................................................................52 

Community Banking ............................................................................................................57 

Activities Related to Large and Complex Financial Institutions, including 

Systemically Important Financial Institutions ....................................................................60 

Depositor and Consumer Protection ...................................................................................67 

Failure Resolution and Receivership Management.............................................................78 

Information Technology .......................................................................................................81 

International Outreach .........................................................................................................83 

Effective Management of Strategic Resources....................................................................85 

II. Performance Results Summary ........................................................................ 89 

Summary of 2021 Performance Results by Program ..........................................................91 

Performance Results by Program and Strategic Goal ........................................................91 

Prior Years’ Performance Results.......................................................................................101 

III. Financial Highlights ....................................................................................... 115 

Deposit Insurance Fund Performance ...............................................................................117 

IV. Budget and Spending..................................................................................... 121 

FDIC Operating Budget ...................................................................................................... 123 

2021 Budget and Expenditures by Program .....................................................................124 

Investment Spending......................................................................................................... 125 

V. Financial Section ........................................................................................... 127 

Deposit Insurance Fund (DIF) .............................................................................................128 

FSLIC Resolution Fund (FRF) ..............................................................................................143 

Government Accountability Office Auditor’s Report ....................................................... 150 

Management’s Report on Internal Control over Financial Reporting..............................157 

Management’s Response to the Auditor’s Report............................................................ 158 

VI. Risk Management and Internal Controls.......................................................... 159 

Statement of Assurance......................................................................................................160 

Program Evaluation ............................................................................................................161 

Fraud Reduction and Data Analytics Act of 2015 ..............................................................163 

Management Report on Final Actions ...............................................................................163 

VII. Appendices ................................................................................................... 179 

A. Key Statistics...................................................................................................................181 

B. More About the FDIC.......................................................................................................192 

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

Performance Challenges Facing the FDIC .....................................................................203 

D. Acronyms ........................................................................................................................248 

FEDERAL DEPOSIT INSURANCE CORPORATION ANNUAL REPORT