Summary of Management's Comments on the Recommendation

This table presents management's response to the report's recommendation and the status of the recommendation as of the date of report issuance.

Rec. Number: 1.
Corrective Action (Taken or Planned): RMS and the Legal Division committed to review the adequacy of the FDIC's procedures and practices for documenting and maintaining approvals and analyses pertaining to PCI applications.
Expected Completion Date: March 30, 2012
Monetary Benefits: $0
Resolved:a Yes
Open or Closedb: Open

a Resolved –
(1) Management concurs with the recommendation, and the planned, ongoing, and completed corrective action is consistent with the recommendation.
(2) Management does not concur with the recommendation, but alternative action meets the intent of the recommendation.
(3) Management agrees to the OIG monetary benefits, or a different amount, or no ($0) amount. Monetary benefits are considered resolved as long as management provides an amount.

b Recommendations will be closed when (a) the Office of Enterprise Risk Management notifies the OIG that corrective actions are complete or (b) in the case of recommendations that the OIG determines to be particularly significant, when the OIG confirms that corrective actions have been completed and are responsive.