Senior Compensation Officer for attended the FDIC 101 training program organized by FDIC from 12-16 March 2018

Senior Compensation Officer, Ms. Lirika Ulaj, attended the FDIC 101 training program organized by FDIC (Federal Deposit Insurance Corporation). FDIC 101 is a 5-day program that reflects governing policies and procedures used by FDIC to support its mandates in insuring deposits, banking supervision and bank resolutions.

FDIC’s field experts presented the roles and functions of the Divisions comprising the Agency, and the FDIC’s main mission: bank supervision (bank screening in terms of security, health and protection of consumer), Deposit Insurance and managing of Deposit Insurance Fund and resolutions (administration of liquidation, dissolution of large and complex financial institutions).

During the training was discussed FDIC’s background and experience since its establishment, the U.S banking system, FDIC’s role as primary deposit insurance federal regulator in depositing institutions in case of bankruptcy, whereby in addition to its role as an insurer, FDIC is the main regulator of Federal Insured Banks that are not members of the Federal Reserve System. Moreover, it was also discussed regarding FDIC’s role as a liquidator of such financial institutions in case of insolvency and its responsibilities of planning solutions (together with the Federal Reserve Board) for large and complex financial companies in a “least costly” way for the Deposit Insurance Fund, maximization of net returns to creditors and administration of regular liquidation for financial institutions covered.