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February 08, 2016 8:33 PM ET

Diversified Financial Services

Company Overview of Federal Deposit Insurance Corporation

Company Overview

Federal Deposit Insurance Corporation is a United States federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. The FDIC provides coverage for deposits in national banks, in state banks that are members of the Federal Reserve System, and in other qualified state banks. Federal Deposit Insurance Corporation also supervises the Savings Association Insurance Fund, the agency that was created to provide coverage for savings and loan associations. The institution was founded in 1933 and is headquartered in Washington, District Of Columbia. It has regional offices all over the United States.

550 17th Street, NW

Washington, DC 20429-0002

United States

Founded in 1933

Phone:

202-393-8400

Fax:

202-898-3772

Key Executives for Federal Deposit Insurance Corporation

Deputy to the Chairman and Chief Financial Officer
Chief Operating Officer
Head of San Francisco Branch
Chief Risk officer
Chief Learning Officer and Director of Corporate University
Compensation as of Fiscal Year 2015.

Federal Deposit Insurance Corporation Key Developments

Morgan Stanley Agrees to Pay Nearly $63 million to Settle RMBS Claims

The FDIC signed a settlement and release agreement with Morgan Stanley, Morgan Stanley & Co. LLC and Morgan Stanley Capital I Inc. under which the Morgan Stanley entities agreed to pay about $63.0 million to settle residential mortgage-backed securities claims. The FDIC, as receiver for three failed banks, signed a settlement and release agreement with Morgan Stanley, Morgan Stanley & Co. LLC and Morgan Stanley Capital I Inc. Under the agreement, dated Jan. 28, the Morgan Stanley entities agreed to pay about $63.0 million to settle residential mortgage-backed securities claims. They deny all liability with respect to all claims that the FDIC has brought as receiver for the failed banks. The settlement funds will be distributed among the receiverships for Montgomery, Ala.-based Colonial Bank; Henderson, Nev.-based Security Savings Bank; and Denver-based United Western Bank. Along with $24 million from a settlement with Morgan Stanley last year of RMBS claims related to Houston-based Franklin Bank SSB, this latest settlement brings total RMBS claim settlements by the FDIC with Morgan Stanley to about $87.0 million. The settlement resolves federal and state securities law claims based on allegations of misrepresentations in the offering documents for 14 RMBS purchased by the three failed banks. The FDIC as receiver for the three failed banks filed four lawsuits from February 2012 to January 2014 against Morgan Stanley and other defendants.

Federal Deposit Insurance Corporation Presents at FIA/SIFMA Asset Management Derivatives Forum 2016, Feb-04-2016 11:00 AM

Federal Deposit Insurance Corporation Presents at FIA/SIFMA Asset Management Derivatives Forum 2016, Feb-04-2016 11:00 AM. Venue: Montage Laguna Beach, Laguna Beach, California, United States. Speakers: Alexandra Barrage, Senior Resolution Policy Specialist & Counsel.

Federal Deposit Insurance Corporation Announces Official Changes

The Federal Deposit Insurance Corp. outlined the succession plans for several key offices. Eric Spitler retired from his post as the head of legislative affairs, making way for Andy Jiminez, his former acting deputy director. Jiminez's appointment has now been approved by the FDIC's board of directors. The agency also announced the retirement late last year of Robert Mooney, who served as national director of minority and community development banking and held other leadership roles throughout his 26-year run at the FDIC. Mooney is being succeeded in an acting capacity by Scott Strockoz, a deputy regional director for the New York area. Another outgoing official is Stanley Ivie, who heads the FDIC's San Francisco branch. Ivie has overseen FDIC activities in a number of states during his 31 years with the agency. He will be stepping down March 7.

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