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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 after the Great Depression. The Corporation began operations on September 9, 1934, with $150 million from the U.S. Treasury and capital stock subscribed by the 12 Federal Reserve Banks. Congress has increased the limit on deposit insurance five times since 1934, the most current level being $100,000.

The Corporation does not operate on funds appropriated by Congress. Its income is derived from assessments on deposits held by insured banks and from interest on the required investment of its surplus funds in 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 federally chartered or national banks, and the Director of the Office of Thrift Supervision, which supervises federally 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 Federal Deposit Insurance Corporation insures about $2 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.

The Corporation examines about 7,000 commercial and savings banks that are not members of the Federal Reserve System, called State-chartered nonmember banks. The Corporation also has back-up authority to examine other types of financial institutions. The two types of examinations conducted are for safety and soundness, and for compliance with applicable consumer laws such as Truth in Lending, the Home Mortgage Disclosure Act, and the Community Reinvestment Act. Examinations are performed on the institution's premises and off-site through computer data analysis.

A failed bank is generally closed by its chartering authority, and FDIC is named receiver. In that capacity, FDIC attempts to locate a healthy institution to acquire the failed entity. If an acquirer cannot be found, FDIC pays depositors the amount of their insured funds, usually within 1 or 2 business days 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 bank's remaining assets. Depositors with funds in a failed bank that exceed the insurance limit receive a receivership certificate for those funds and partial payments of their uninsured funds as asset liquidation permits.

In addition to its insurance, supervisory, and liquidation responsibilities, FDIC 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;

-issuance of enforcement actions, including cease-and-desist orders, for

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specific violations or practices requiring loan secured by 25 percent or more of corrective action; and

the bank's stock. --reporting changes in ownership or control of a bank, and reporting any

Regional Offices Federal Deposit Insurance Corporation






Atlanta, GA (Suite 1600, 1 Atlantic Ctr., 1201 W. Peachtree St. NE. Lyle V. Helgerson

Boston, MA (Westwood Executive Ctr., 200 Lowder Brook Dr., Westwood, Paul H. Wiechman

MA 02090).
Chicago, IL (Suite 3600, 500 W. Monroe St., 60661)

Simona L. Frank
Dallas, TX (Suite 1900, 1910 Pacific Ave., 75201)

Kenneth L. Walker Kansas City, MO (Suite 1500, 2345 Grand Ave., 64108)

James O. Leese Memphis, TN (Suite 1900, 5100 Poplar Ave., 38137)

Cottrell L. Webster New York, NY (19th Fl., 452 5th Ave., 10018)

Michael J. Zamorski San Francisco, CA (Suite 2300, 25 Ecker St., 94105)

George J. Masa

Depositori Asset Services NORTHEAST (111 Founder's Plz., E. Hartford, CT 06108)

Gary P. Bowen SOUTHEAST (Suite 1300, 1 Atlantic Cts., 1201 W. Peachtree St. NE., At- Keith W. Seibold

lanta, GA 30309). MIDWEST (Suite 3200, 500 W. Monroe St., Chicago, IL 60661)

Bart L. Federici SOUTHWEST (Suite 1000E, 5080 Spectrum Dr., Dallas, TX 75248) G. Michael Newton WESTERN (4 Park Plz., Jamboree Ctr., Irvine, CA 92714)

Sandra Waldrop

312-382-7500 214-220-3342 816-234 8000 901-686-1603 212-704 1200 415-546 0160

203-290-2000 404-817-2500

312-382-6000 214-991-0039 714-263–7765

Sources of Information

Written requests for general information
may be directed to the Office of
Corporate Communications, Federal
Deposit Insurance Corporation, 550
Seventeenth Street NW., Washington,
DC 20429. Information about deposit
insurance and other consumer matters is
available from the Division of
Compliance and Consumer Affairs (DCA)

at the same address or any regional
office, or DCA's hotline, 800-934-3442.
For a copy of a bank's quarterly Report
of Condition, call 800-945-2186.
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, 202-898–3811) or any regional

For further information, contact the Corporate Communications Office, Federal Deposit Insurance
Corporation, 550 Seventeenth Street NW., Washington, DC 20429. Phone, 202-898–6996.

999 E Street NW., Washington, DC 20463
Phones: 202-219–3420; 800-424-9530 (toll-free)

Vice Chairman



Statutory Officers:
Staff Director
General Counsel
Inspector General


The Federal Election Commission has exclusive jurisdiction in the administration and civil enforcement of laws regulating the acquisition and expenditure of campaign funds to ensure compliance by participants in the Federal election campaign process. Its chief mission is to provide public disclosure of campaign finance activities and effect voluntary compliance by providing the public with information on the laws and regulations concerning campaign finance.

The Federal Election Commission is an independent agency established by section 309 of the Federal Election Campaign Act of 1971, as amended (2 U.S.C. 437c). It is composed of six Commissioners appointed by the President with the advice and consent of the Senate. The act also provides for three statutory officers—the Staff Director, the General Counsel, and the Inspector General—who are appointed by the Commission.

are received and computerizes the data contained in the reports. Contribution Limits and Prohibitions The Commission administers and enforces the law with respect to limits and prohibitions on contributions and expenditures made to influence Federal elections. Voluntary Compliance The Commission seeks voluntary compliance with the above provisions of the law by providing information through a toll-free telephone line, publications, seminars, regulations (which clarify the law), and advisory opinions (which interpret the law in specific, factual situations). Enforcement The Commission has exclusive jurisdiction with respect to the civil enforcement of the campaign finance laws. Possible violations of the law are brought to the Commission's attention, either internally (through report review procedures and audits) or externally (through complaints filed by the public or referrals from other Government agencies). The Commission seeks to resolve compliance matters through conciliation and may bring suit when conciliation fails. It also defends the law in court.

Activities The Commission administers and enforces the Federal Election Campaign Act of 1971, as amended (2 U.S.C. 431 et seq.), and the Revenue Act, as amended (26 U.S.C. 1 et seq.). These laws provide for the public funding of Presidential elections, public disclosure of the financial activities of political committees involved in Federal elections, and limitations and prohibitions on contributions and expenditures made to influence Federal elections (Presidency, Senate, and House of Representatives). Public Funding of Presidential Elections The Commission oversees the public financing of Presidential elections by certifying Federal payments to primary candidates, general election nominees, and national nominating conventions. It also audits recipients of Federal funds and may require repayments to the U.S. Treasury if a committee makes nonqualified campaign expenditures. Disclosure The Commission ensures the public disclosure of the campaign finance activities reported by political committees supporting Federal candidates. Committee reports, filed regularly, disclose where campaign money comes from and how it is spent. The Commission places reports on the public record within 48 hours after they

Sources of Information Clearinghouse on Election Administration The Clearinghouse compiles and disseminates election administration information related to Federal elections. It also conducts independent contract studies on the administration of elections. For further information, call 202-219–3670, or 800-424-9530 (toll-free). Congressional Affairs Office This Office serves as primary liaison with Congress and executive branch agencies. The Office is responsible for keeping Members of Congress informed about Commission decisions and, in turn, for

informing the Commission on legislative developments. For further information, call 202-219-4136, or 800-424–9530 (toll-free). Employment Inquiries regarding employment opportunities should be directed to the Director, Personnel and Labor Management Relations. Phone, 202–219-4290, or 800-424-9530 (tollfree). General Inquiries The Information Services Division provides information and assistance to Federal candidates, political committees, and the general public. This division answers questions on campaign finance laws, conducts workshops and seminars on the law, and provides publications and forms. For information or materials, call 202-219– 3420, or 800-424-9530 (toll-free). Media Inquiries The Press Office answers inquiries from print and broadcast media sources around the country, issues press releases on Commission actions and statistical data, responds to informational requests, and

distributes other materials. All persons representing media should direct inquiries to the Press Office. Phone, 202-219-4155, or 800-424-9530 (tollfree). Public Records The Office of Public Records, located at 999 E Street NW., Washington, DC, provides space for public inspection of all reports and statements relating to campaign finance since 1972. It is open weekdays from 9 a.m. to 5 p.m. and has extended hours during peak election periods. The public is invited to visit the Office or obtain information by calling 202–219-4140, or 800-424-9530 (toll-free). Reading Room The library contains a collection of basic legal research resources, with emphasis on political campaign financing, corporate and labor political activity, and campaign finance reform. It is open to the public on weekdays between 9 a.m. and 5 p.m. For further information, call 202–2193312, or 800-424–9530 (toll-free).

For further information, contact Information Services, Federal Election Commission, 999 E Street NW., Washington, DC 20463. Phone, 202-219–3420; or 800_424–9530 (toll-free).

FEDERAL EMERGENCY MANAGEMENT AGENCY 500 C Street SW., Washington, DC 20472 Phone, 202-646-4600

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