    [United States Government Manual]
    [June 01, 2007]
    [Pages 400-404]
    [From the U.S. Government Publishing Office, www.gpo.gov]

    FEDERAL DEPOSIT INSURANCE CORPORATION

    550 Seventeenth Street NW., Washington, DC 20429

    Phone, 202-736-6000. Internet, www.fdic.gov.
    Board of Directors:

    Chairman                                          Sheila C. Bair
    Vice Chairman                                     Martin J. Gruenberg
    Directors:
        (Comptroller of the Currency)                 John C. Dugan
        (Director, Office of Thrift                   John M. Reich
                Supervision)
        Appointive Director                           Thomas J. Curry

    Officials:

    Deputy to the Chairman                            Alice C. Goodman
    Deputy to the Chairman and Chief Operating        John F. Bovenzi
            Officer
    Deputy to the Chairman and Chief Financial        Steven O. App
            Officer
    Chief of Staff                                    Jesse O. Villarreal,
                                                              Jr.
    Deputy to the Vice Chairman                       Barbara A. Ryan
    Deputy to the Director (Comptroller of the        William A. Rowe III
            Currency)
    Deputy to the Director (Office of Thrift          Claude A. Rollin
            Supervision)
    Special Assistant to the Director                 (vacancy)
    General Counsel                                   Sara A. Kelsey
    Director, Division of Administration              Arleas Upton Kea
    Director, Division of Finance                     Frederick S. Selby

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    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
            Receiverships
    Director, Division of Supervision and Consumer    Sandra L. Thompson
            Protection
    Director, Office of Diversity and Economic        D. Michael Collins
            Opportunity
    Director, Office of Enterprise Risk Management    James H. Angel, Jr.
    Director, Office of International Affairs         Fred Carns
    Director, Office of Legislative Affairs           Eric J. Spitler
    Ombudsman                                         Cottrell L. Webster
    Director, Office of Public Affairs                Andrew B. Stirling,
                                                              Acting
    Chief Learning Officer                            Steven B. Mosier,
                                                              Acting
    Inspector General                                 John T. Rymer

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    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
    purposes.
        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.

    Activities

    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 5,220 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,
    [GRAPHIC] [TIFF OMITTED] T211657.037

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    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
    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)......    312-382-7500
    Dallas, TX (Suite 1900, 1910 Pacific Ave., 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)....    808-546-1810
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    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. For
    credit card complaints, call 800-378-9581, from 8:30 a.m. to 4:30 p.m.
    central time, Monday through Friday. Written inquiries can be sent to
    the Division of Supervision and Consumer Protection at the regional
    offices listed above or to FDIC headquarters. E-mail inquiries can be
    sent to the FDIC web site 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.asp. A copy of a bank's quarterly Report
    of Condition is available from the call center at cost, or free from the
    FDIC web site 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  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,

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    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.

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