FEDERAL DEPOSIT INSURANCE CORPORATION
CHARTER OF THE
FDIC ADVISORY COMMITTEE ON BANKING POLICY
Official designation: FDIC Advisory Committee on Banking Policy ("the Committee").
Scope and Objectives: The Committee will provide advice and recommendations on a broad range of issues relating to the FDIC's mission and activities, including, but not limited to: the delivery of services by the FDIC, its corporate infrastructure, and policy initiatives in the areas of deposit insurance, supervision of financial institutions, resolutions and management of failing and failed institutions, and other issues impacting the financial services industry. Members of the Committee will be representatives from diverse groups that are impacted by banking-related and/or corporate operational issues.
Duration: The Committee will exist for 2 years from the date of the Charter, unless earlier renewed.
Reporting Relationship: The Committee reports to the Chairman of the Board of Directors of the Federal Deposit Insurance Corporation.
Support: The FDIC will provide whatever support is required for the Committee's activities.
Duties: The Committee will provide advice and recommendations only.
Costs: The annual operating costs associated with supporting the Committee's functions
are estimated to be $300,000 per year, including staff time. It is estimated that 2 staff-years per year, of FDIC personnel time, will be required to support the Committee on a
continuing basis. Committee members will not receive compensation for their services.
Committee members will be reimbursed for expenses for travel, per diem, and other
miscellaneous expenses incurred in the performance of their duties for the Committee
subject to FDIC approval.
Meetings: The Committee shall meet at such intervals as are necessary to carry out its functions. It is anticipated that the Committee will meet at least 2 times per year.
Organization: The FDIC will establish such operating procedures as required to support the Committee, consistent with the Federal Advisory Committee Act, as amended. The FDIC Chairman is authorized to create any subcommittees that may be necessary to fulfill the Committee's mission.
Date of Termination: The Committee will terminate 2 years from the date of charter filing, unless sooner renewed.
Charter Filing Date: This charter has been filed with the Chairman of the FDIC, the Senate Committee on Banking, Housing and Urban Affairs, the House Committee on Financial Services, and furnished to the Library of Congress on February 12, 2004.