    [United States Government Manual]
    [June 01, 2001]
    [Pages 403-406]
    [From the U.S. Government Publishing Office, www.gpo.gov]

    FEDERAL DEPOSIT INSURANCE CORPORATION

    550 Seventeenth Street NW., Washington, DC 20429

    Phone, 202-393-8400. Internet, www.fdic.gov.
    Board of Directors:

    Chairman                                          Donna Tanoue
    Vice Chairman                                     (vacancy)
    Directors:
        (Comptroller of the Currency)                 John D. Hawke, Jr.
        (Director, Office of Thrift                   Ellen S. Seidman
                Supervision)
        Appointive Director                           John Reich

    Officials:

    Deputy to the Chairman and Chief Operating        John F. Bovenzi
            Officer
    Deputy to the Chairman                            Jadine Nielsen
    Deputy to the Chairman and Chief Financial        Myrta K. Sale
            Officer
    Deputy to the Vice Chairman                       Robert W. Russell
    Deputy to the Director (Comptroller of the        Thomas E. Zemke
            Currency)
    Deputy to the Director (Office of Thrift          Walter B. Mason
            Supervision)
    Deputy to the Director (Appointive)               (vacancy)
    Chief Information Officer                         Donald C. Demitros
    Executive Secretary                               Robert E. Feldman
    General Counsel                                   William F. Kroener III
    Director, Bank Technology Group                   Christie A. Sciacca
    Director, Division of Administration              Arleas Upton Kea
    Director, Division of Compliance and Consumer     Stephen M. Cross
            Affairs
    Director, Division of Finance                     Frederick S. Selby
    Director, Division of Information Resources       Donald C. Demitros
            Management
    Director, Division of Insurance                   Arthur J. Murton
    Director, Division of Research and Statistics     William R. Watson
    Director, Division of Resolutions and             Mitchell L. Glassman
            Receiverships
    Director, Division of Supervision                 Michael J. Zamorski,
                                                              Acting
    Director, Office of Diversity and Economic        D. Michael Collins
            Opportunity
    Director, Office of Internal Control Management   Vijay G. Deshpande
    Director, Office of Legislative Affairs           Alice C. Goodman
    Director, Office of Ombudsman                     Ronald F. Bieker
    Director, Office of Public Affairs                Phil Battey
    Inspector General                                 Gaston L. Gianni, Jr.

    [[Page 404]]

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    The Federal Deposit Insurance Corporation promotes and preserves public
    confidence in U.S. financial institutions by insuring bank and thrift
    depositsup 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
    protectionlaws; and by liquidating assets of failed institutions to
    reimburse the insurance funds for the cost of failures.

    [GRAPHIC] [TIFF OMITTED] T188578.038

    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. Congress
    has increased the limit on deposit insurance five times since 1934, the
    most current level being $100,000.
        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 purposes.
        Management of 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.

    Activities

    FDIC insures about $3.1 trillion of U.S. bank and thrift deposits. The
    insurance funds are 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. Banks pay
    premiums to the Bank Insurance Fund (BIF), while savings associations
    pay premiums to the Savings Association Insurance Fund (SAIF). Premiums
    are determined by an institution's level of capitalization and potential
    risk to its insurance fund.
        FDIC examines about 5,700 commercial and savings banks that are not
    members of the Federal Reserve System, called State-chartered nonmember
    banks. 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 FDIC is named receiver. FDIC is required to
    resolve the closed institution in a manner that is least costly to FDIC.
    Ordinarily, FDIC attempts to locate a healthy institution to acquire the
    failed entity. If such an entity cannot be found, 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, FDIC also performs other functions relating to State
    nonmember banks, including:

    [[Page 406]]

        --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
    ------------------------------------------------------------------------
    Supervision/Compliance and Consumer Affairs.............

    Atlanta, GA (Suite 1600, 1201 W. Peachtree St. NE.,         404-817-1300
     30309).................................................
    Boston, MA (15 Braintree Hill Office Park, Braintree, MA    781-794-5500
     02184).................................................
    Chicago, IL (Suite 3600, 500 W. Monroe St., 60661)......    312-382-7500
    Dallas, TX (Suite 1900, 1910 Pacific Ave., 75201).......    214-754-0098
    Kansas City, MO (Suite 1200, 2345 Grand Blvd., 64108)...    816-234-8000
    Memphis, TN (Suite 1900, 5100 Poplar Ave., 38137).......    901-685-1603
    New York, NY (20 Exchange Pl., 10005)...................    917-320-2500
    San Francisco, CA (Suite 2300, 25 Ecker St., 94105).....    415-546-0160

    Resolutions and Receiverships...........................

    Southwest (1910 Pacific Ave., Dallas, TX 75201).........    800-568-9161
    ------------------------------------------------------------------------

    Sources of Information

    Consumer Information  Telephone inquiries about deposit insurance and
    other consumer matters can be directed to the FDIC call center at 877-
    275-3342 from 8 a.m. to 8 p.m., eastern time, Monday through Friday.
    Written inquiries can be sent to the Division of Compliance and Consumer
    Affairs' regional offices listed above or to FDIC headquarters. E-mail
    inquiries can be sent to the FDIC website at www.fdic.gov. The online
    FDIC customer assistance form for submitting an inquiry or a complaint
    is available at www2.fdic.gov/starsmail/index.html. A copy of a bank's
    quarterly Report of Condition is available from the call center at cost,
    or free from the FDIC website at www2.fdic.gov/Call--
    TFR--Rpts/.
    General Inquiries  Written requests for general information may be
    directed to the Office of Public Affairs, Federal Deposit Insurance
    Corporation, 550 Seventeenth Street NW., Washington, DC 20429.
    Public Records  Inquiries about the types of records available to the
    public, including records available under the Freedom of Information
    Act, should be directed to the Office of the Executive Secretary (phone,
    202-898-7021) 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, 877-275-3342 (option 4).
    E-mail, publicinfo@fdic.gov. Internet, www.fdic.gov.

    For further information, contact the Office of Public Affairs, Federal
    Deposit Insurance Corporation, 550 Seventeenth Street NW., Washington,
    DC 20429. Phone, 202-898-6993. Internet, www.fdic.gov.