Letter to Stakeholders
▼Financial data is unaudited
1st quarter
2003
Stability
● Established an FDIC Risk Analysis Center to rapidly identify, quantify
and respond to existing and emerging risks to the deposit insurance funds.
● Announced new and updated corporate governance initiatives allowing
Bank Directors to participate in regular meetings between examiners and
bank officers, a “Director’s Corner” on the FDIC website, and expansion
of its “Director’s College” program.
● Hosted a Consumer Balance Sheet Roundtable featuring experts from
government, Wall Street and academia debating the current state of
consumer finances and the outlook for consumer credit quality.
● Published a Chinese language version of Money Smart highlighting
navigation of the banking process.
● Reached agreement with FFIEC partners to build/implement a new internet-
based Central Data Repository for Call Reporting and other regulatory
reports using the XBRL data standard.
Sound Policy
● Comprehensive deposit insurance reform legislation passed the House
of Representatives by a vote of 411 to 11.
● Chairman Powell hosted symposium on The Future of Financial Regulation:
Structural Reform or Status Quo? highlighting apparent disconnects
between industry and regulators, convergence and consolidation of the
financial services industry, and the potential regulatory reorganization.
● Chairman Powell testified before the House Financial Services Committee
and FDIC initiated a series of public papers to demystify Basel II capital
regulations in recognition that regulatory changes under consideration
are not widely understood.
● Improved how the FDIC provides analysis and data to bankers, policy-
makers, and the public by revamping its three flagship publications:
FDIC Outlook, FDIC Quarterly Banking Profile and FDIC Banking Review,
and by launching FDIC State Profiles, an internet-only publication
with localized banking data and economic information for every state.
Stewardship
● Realigned FDIC executive positions and created two senior management
pay bands supporting pay for performance programs.
● Received unqualified opinions on 2002 financial statements and published
the FDIC Annual Report in record time of 90 days. FDIC vows to deliver
the 2003 report by February 15, 2004.
● Established the FDIC Corporate University to better develop employees
to keep pace with the banking industry, learn more about the FDIC,
sharpen job skills, and enhance leadership expertise.
● Named Richard A. Brown as the FDIC’s Chief Economist and Robert F. Storch
as the FDIC’s Chief Accountant.
Q4 2001
8,344
$ 6,866
$ 2,410
$ 30.4
% 1.26
Q4 2002
8,143
$ 7,346
$ 2,527
$ 32.1
% 1.27
Q4 2001
1,287
$ 1,012
$ 801
$ 10.9
% 1.36
Q4 2002
1,229
$ 1,100
$ 860
$ 11.7
% 1.37
Q4 2001
9,631
$ 7,878
$ 3,211
$ 41.3
% 1.29
Q4 2002
9,372
$ 8,446
$ 3,387
$ 43.8
% 1.29
BIF SAIF Both Funds
Updated quarterly
($ billions)
# Insured Inst.
$ Insured Inst.
Insured Deposits
Fund Balances
Reserve Ratios
Insurance
Our Priorities Our Key Indices Most Current Data▼
Design: FDIC/DOA/CSB/Design and Printing Unit
3/31/2002
5,454
682
464
633
122
3/31/2003
5,354
628
459
631
83
YTD
Total Number of FDIC Supervised Institutions
Bank Examinations:
Safety and Soundness
Compliance and CRA
Insurance and Other Applications Approved
Formal and Informal Enforcement Actions
Supervision
Q1 2002
42
$ 1,665
$ 420
$ 35
Q1 2003
37
$ 1,141
$ 800
$ 56
Q1 2002
3
$ 188
$ 26
$ 523
Q1 2003
3
$ 397
$ 3
$ 0
Q1 2002
45
$ 1,853
$ 446
$ 558
Q1 2003
40
$ 1,538
$ 803
$ 56
BIF SAIF Both Funds
YTD
($ millions)
Total
Receiverships
Assets in
Liquidation
Collections
Dividends Paid
Receiverships
Q4 2002
$ 84
$ 1,692
$ 1,611
Q1 2003
$ 19
$ 376
$ 332
Q4 2002
$ 24
$ 564
$ 812
Q1 2003
$ 4
$ 130
$ 159
Q4 2002
$ 108
$ 2,256
$ 2,423
Q1 2003
$ 23
$ 506
$ 491
BIF SAIF Both Funds
YTD
($ millions)
Assessment
Income
Interest
Comprehensive
Income
Income
Data as of March 22, 2003
●
Total
$ 1,112
$ 227
Budget/Expenditures On Board Staff
Ongoing
Operations
$ 985
$ 213
($ millions)
Annual Budget
YTD Expended
Recvrship
Funding
$ 75
$ 13
Major
Investment
Funding
$ 52
$ 1
Q1 2003
5,388
Target Y/E
2003
5,561
Resources
Don Powell
Chairman
This is my fourth Letter to Stakeholders. We have set the stage for 2003 with
new priorities: Stability of the industry and the insurance funds, Sound Policy
positions supported by substantive research and led by comprehensive deposit
insurance reform legislation, and Stewardship of the Corporation and insurance
funds to ensure we do our job in the most efficient and effective manner possible.
For added information, I encourage you to visit our website at www .fdic.gov.
●
▼Financial data is unaudited
1st quarter
2003
Stability
● Established an FDIC Risk Analysis Center to rapidly identify, quantify
and respond to existing and emerging risks to the deposit insurance funds.
● Announced new and updated corporate governance initiatives allowing
Bank Directors to participate in regular meetings between examiners and
bank officers, a “Director’s Corner” on the FDIC website, and expansion
of its “Director’s College” program.
● Hosted a Consumer Balance Sheet Roundtable featuring experts from
government, Wall Street and academia debating the current state of
consumer finances and the outlook for consumer credit quality.
● Published a Chinese language version of Money Smart highlighting
navigation of the banking process.
● Reached agreement with FFIEC partners to build/implement a new internet-
based Central Data Repository for Call Reporting and other regulatory
reports using the XBRL data standard.
Sound Policy
● Comprehensive deposit insurance reform legislation passed the House
of Representatives by a vote of 411 to 11.
● Chairman Powell hosted symposium on The Future of Financial Regulation:
Structural Reform or Status Quo? highlighting apparent disconnects
between industry and regulators, convergence and consolidation of the
financial services industry, and the potential regulatory reorganization.
● Chairman Powell testified before the House Financial Services Committee
and FDIC initiated a series of public papers to demystify Basel II capital
regulations in recognition that regulatory changes under consideration
are not widely understood.
● Improved how the FDIC provides analysis and data to bankers, policy-
makers, and the public by revamping its three flagship publications:
FDIC Outlook, FDIC Quarterly Banking Profile and FDIC Banking Review,
and by launching FDIC State Profiles, an internet-only publication
with localized banking data and economic information for every state.
Stewardship
● Realigned FDIC executive positions and created two senior management
pay bands supporting pay for performance programs.
● Received unqualified opinions on 2002 financial statements and published
the FDIC Annual Report in record time of 90 days. FDIC vows to deliver
the 2003 report by February 15, 2004.
● Established the FDIC Corporate University to better develop employees
to keep pace with the banking industry, learn more about the FDIC,
sharpen job skills, and enhance leadership expertise.
● Named Richard A. Brown as the FDIC’s Chief Economist and Robert F. Storch
as the FDIC’s Chief Accountant.
Q4 2001
8,344
$ 6,866
$ 2,410
$ 30.4
% 1.26
Q4 2002
8,143
$ 7,346
$ 2,527
$ 32.1
% 1.27
Q4 2001
1,287
$ 1,012
$ 801
$ 10.9
% 1.36
Q4 2002
1,229
$ 1,100
$ 860
$ 11.7
% 1.37
Q4 2001
9,631
$ 7,878
$ 3,211
$ 41.3
% 1.29
Q4 2002
9,372
$ 8,446
$ 3,387
$ 43.8
% 1.29
BIF SAIF Both Funds
Updated quarterly
($ billions)
# Insured Inst.
$ Insured Inst.
Insured Deposits
Fund Balances
Reserve Ratios
Insurance
Our Priorities Our Key Indices Most Current Data▼
Design: FDIC/DOA/CSB/Design and Printing Unit
3/31/2002
5,454
682
464
633
122
3/31/2003
5,354
628
459
631
83
YTD
Total Number of FDIC Supervised Institutions
Bank Examinations:
Safety and Soundness
Compliance and CRA
Insurance and Other Applications Approved
Formal and Informal Enforcement Actions
Supervision
Q1 2002
42
$ 1,665
$ 420
$ 35
Q1 2003
37
$ 1,141
$ 800
$ 56
Q1 2002
3
$ 188
$ 26
$ 523
Q1 2003
3
$ 397
$ 3
$ 0
Q1 2002
45
$ 1,853
$ 446
$ 558
Q1 2003
40
$ 1,538
$ 803
$ 56
BIF SAIF Both Funds
YTD
($ millions)
Total
Receiverships
Assets in
Liquidation
Collections
Dividends Paid
Receiverships
Q4 2002
$ 84
$ 1,692
$ 1,611
Q1 2003
$ 19
$ 376
$ 332
Q4 2002
$ 24
$ 564
$ 812
Q1 2003
$ 4
$ 130
$ 159
Q4 2002
$ 108
$ 2,256
$ 2,423
Q1 2003
$ 23
$ 506
$ 491
BIF SAIF Both Funds
YTD
($ millions)
Assessment
Income
Interest
Comprehensive
Income
Income
Data as of March 22, 2003
●
Total
$ 1,112
$ 227
Budget/Expenditures On Board Staff
Ongoing
Operations
$ 985
$ 213
($ millions)
Annual Budget
YTD Expended
Recvrship
Funding
$ 75
$ 13
Major
Investment
Funding
$ 52
$ 1
Q1 2003
5,388
Target Y/E
2003
5,561
Resources
Don Powell
Chairman
This is my fourth Letter to Stakeholders. We have set the stage for 2003 with
new priorities: Stability of the industry and the insurance funds, Sound Policy
positions supported by substantive research and led by comprehensive deposit
insurance reform legislation, and Stewardship of the Corporation and insurance
funds to ensure we do our job in the most efficient and effective manner possible.
For added information, I encourage you to visit our website at www .fdic.gov.
●