Footnote 1: The resolution process includes banks that
eventually fail and problem banks that require DRR monitoring but do not fail. These latter
problem banks are referred to as “near-failures.”
Footnote 2: DSC is responsible for examining and
supervising insured financial institutions to ensure they operate in a safe and sound manner.
Footnote 3: IntraLinks is a private Internet-based company
DRR engaged to assist in the marketing of failing institutions. The purpose of establishing a secure
Web site is to provide information in an expeditious manner on failing financial institutions to potential
acquirers on the resolution process. IntraLinks is also used to describe and market the types of
transactions that are being offered for a failing institution.
Footnote 4: Of the 38 near and actual failures during our
audit period, 7 banks actually failed of which 4 failed due to fraud-related issues.
Footnote 5: The SRP is a DRR inter-divisional coordination plan,
which serves as the catalyst for communicating, planning, and reporting bank failure activities. Usually
within 90 days after the institution’s failure, the SRP will be replaced by a Receivership Business Plan.
