[United States Government Manual]
[September 15, 2009]
[Pages 388-392]
[From the U.S. Government Publishing Office, www.gpo.gov]


550 Seventeenth Street NW., Washington, DC 20429
Phone, 703-562-2222. Internet, www.fdic.gov.
CHAIRMAN                                          Sheila C. Bair
Vice Chairman                                     Martin J. Gruenberg
Director, Appointive                              Thomas J. Curry
Director, Comptroller of the Currency             John C. Dugan
Director, Office of Thrift Supervision            (vacancy)
Deputy to the Chairman and Chief Operating        John F. Bovenzi
Deputy to the Chairman and Chief Financial        Steven O. App
Deputy to the Chairman for External Affairs       Paul Nash
Chief of Staff                                    Jesse O. Villarreal, 
Deputy to the Vice Chairman                       Barbara A. Ryan
Deputy to the Director (Appointive)               Lisa Roy
Deputy to the Director (Comptroller of the        William A. Rowe III
Deputy to the Director (Office of Thrift          (vacancy)
General Counsel                                   Roberta McInerney, 
Director, Division of Administration              Arleas Upton Kea
Director, Division of Finance                     Bret D. Edwards
Director, Division of Information Technology and  Michael E. Bartell
        Chief Information Officer
Director, Division of Insurance and Research      Arthur J. Murton
Director, Division of Resolutions and             Mitchell L. Glassman
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Director, Division of Supervision and Consumer    Sandra L. Thompson
Director, Office of Diversity and Economic        D. Michael Collins
Director, Office of Enterprise Risk Management    James H. Angel, Jr.
Director, Office of International Affairs         Fred S. Carns
Director, Office of Legislative Affairs           Eric J. Spitler
Ombudsman                                         Cottrell L. Webster
Director, Office of Public Affairs                Andrew S. Gray
Chief Learning Officer                            Thom H. Terwilliger
Inspector General                                 John T. Rymer


The Federal Deposit Insurance Corporation promotes and preserves public 
confidence in U.S. financial institutions by insuring bank and thrift 
deposits up to the legal limit of $100,000; by periodically examining 
State-chartered banks that are not members of the Federal Reserve System 
for safety and soundness as well as compliance with consumer protection 
laws; and by liquidating assets of failed institutions to reimburse the 
insurance funds for the cost of failures.

The Federal Deposit Insurance Corporation (FDIC) was established under 
the Banking Act of 1933 in response to numerous bank failures during the 
Great Depression. FDIC began insuring banks on January 1, 1934. As of 
April 1, 2006, the deposit insurance coverage on certain retirement 
accounts at a bank or savings institution was raised to $250,000. The 
basic insurance coverage for other deposit accounts remains at $100,000.
    The FDIC does not operate on funds appropriated by Congress. Its 
income is derived from insurance premiums on deposits held by insured 
banks and savings associations and from interest on the required 
investment of the premiums in U.S. Government securities. It also has 
authority to borrow from the Treasury up to $30 billion for insurance 
    Management of the FDIC consists of a Board of Directors that 
includes the Chairman, Vice Chairman, and Appointive Director. The 
Comptroller of the Currency, whose office supervises national banks, and 
the Director of the Office of Thrift Supervision, which supervises 
federally or State-chartered savings associations, are also members of 
the Board. All five Board members are appointed by the President and 
confirmed by the Senate, with no more than three being from the same 
political party.


The FDIC insures about $4.2 trillion of U.S. bank and thrift deposits. 
The insurance fund is composed of insurance premiums paid by banks and 
savings associations and the interest on the investment of those 
premiums in U.S. Government securities, as required by law. Premiums are 
determined by an institution's level of capitalization and potential 
risk to the insurance fund.
    The FDIC examines about 5,250 State-chartered commercial and savings 
banks that are not members of the Federal Reserve System, called State 
nonmember banks. The FDIC also has authority to examine other types of 
FDIC-insured institutions for deposit insurance purposes. The two types 
of examinations conducted are for safety and soundness and for 
compliance with applicable consumer laws such as the Truth in Lending 
Act, the Home Mortgage Disclosure Act, the Equal Credit Opportunity Act, 
the Fair Housing Act, and the Community Reinvestment Act. Examinations 
are performed on the institution's premises and off-site through 
computer data analysis.
    A failed bank or savings association is generally closed by its 
chartering authority, and the FDIC is named receiver. The FDIC is 
required to resolve the closed institution in a manner that is least 
costly to the FDIC. Ordinarily, the FDIC attempts to locate a healthy 

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institution to acquire the failed entity. If such an entity cannot be 
found, the FDIC pays depositors the amount of their insured funds, 
usually by the next business day following the closing. Depositors with 
funds that exceed the insurance limit often receive an advance dividend, 
which is a portion of their uninsured funds that is determined by an 
estimate of the future proceeds from liquidating the failed 
institution's remaining assets. Depositors with funds in a failed 
institution that exceed the insurance limit receive a receivership 
certificate for those funds and partial payments of their uninsured 
funds as asset disposition permits.
    As part of its insurance, supervisory, and receivership 
responsibilities, the FDIC also performs other functions relating to 
State nonmember banks, including:
    --approval or disapproval of mergers, consolidations, and 
acquisitions where the resulting bank is an insured State nonmember;
    --approval or disapproval of a proposal by a bank to establish and 
operate a new branch, close an existing branch, or move its main office 
from one location to another;
    --approval or disapproval of requests to engage as principal in 
activities and investments that are not permissible for a national bank;
    --issuance of enforcement actions, including cease-and-desist 
orders, for specific violations or practices requiring corrective 
action; and
    --review of changes in ownership or control of a bank.

         Regional Offices--Federal Deposit Insurance Corporation
                     Region/Address                          Telephone
Atlanta, GA (Suite 800, 10 Tenth St. NE., 30309)........    678-916-2200
Chicago, IL (Suite 3500, 500 W. Monroe St., 60661)......    312-382-6000
Dallas, TX (1601 Bryan St., 75201)......................    214-754-0098
Kansas City, MO (Suite 1200, 2345 Grand Blvd., 64108)...    816-234-8000
New York, NY (4th Fl., 20 Exchange Pl., 10005)..........    917-320-2500
San Francisco, CA (Suite 2300, 25 Jessie St., 94105)....    415-546-0160

Sources of Information

Consumer Information  Telephone inquiries about deposit insurance and 
other consumer matters can be directed to the Consumer Response Center 
at 877-275-3342, from 8 a.m. to 8 p.m. eastern standard time, Monday 
through Friday. For credit card complaints, call 800-378-9581, from 8:30 
a.m. to 4:30 p.m. central standard time, Monday through Friday. Written 
inquiries may be sent to the Division of Supervision and Consumer 
Protection at the regional offices listed above or to FDIC headquarters. 
Email inquiries may be sent to the FDIC Web site at www.fdic.gov/
deposit/deposits/index.html. The online FDIC customer assistance form 
for submitting an inquiry or a complaint is available at www.fdic.gov/
starsmail/index.asp. A copy of a bank's quarterly Report of Condition is 
available from the callcenter at cost, or free from the FDIC Web site at 

General Inquiries  Written requests for general information may be 
directed to the FDIC's Public Information Center, 3501 Fairfax Drive, 
Room E-1002, Arlington, VA (telephone 703-562-2200 or 1-877-275-3342).

Public Records  Many FDIC records are available on the FDIC Web site. 
Inquiries about other types of records available to the public, 
including records available under the Freedom of Information Act, should 
be directed to the Chief, FOIA/PA Group 550 17th St. NW., Washington, DC 
20429, or any regional office.

Publications  Publications, press releases, congressional testimony, 
directives to financial institutions, and other documents are available 
through the Public Information Center. Phone,

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877-275-3342 (press 1; then press 5).    Email, [email protected]. 
Internet, www.fdic.gov/news/publications/index.html.

For further information, contact the Office of Public Affairs, Federal 
Deposit Insurance Corporation, 550 Seventeenth Street NW., Washington, 
DC 20429. Phone, 202-898-6993. Email, [email protected]. Internet,