The FDIC today released a draft of its strategic plan for 2022-2026 for public comment. Comments are due Oct. 1. The agency’s strategic goals include ensuring that insured depositors are protected from loss without recourse to taxpayer funding, that FDIC-supervised banks are safe and sound, that consumers’ rights are protected and banks are investing in their communities, that large banks can be resolved in an orderly manner in the event of bankruptcy and that resolutions are orderly and receiverships are managed effectively.
The FDIC flagged several strategic challenges on the horizon—the largest of which was the trajectory of the nation’s economy as the pandemic recovery persists. The FDIC noted that “while the banking industry continues to perform well, the interest rate environment and economic uncertainty continue to pose challenges for many institutions. Overall, the industry must manage interest-rate risk, liquidity risk, and credit risk carefully to remain on a long-term, sustainable growth path.”
Among the additional strategic challenges that will shape FDIC’s strategic priorities are: nonbank competition with community banks and regional banks; innovation, information technology and cybersecurity; economic inclusion; and workforce development and management.