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This is the Federal Deposit Insurance Corporation's (�౦��Ϸ����'s) fifth Letter to Stakeholders, which reports on our priorities and activities for the second quarter of 2003.

As we move into the second half of 2003, we continue to focus on stability of the industry and the insurance funds; sound policy positions supported by substantive research and led by comprehensive deposit insurance reform legislation; and stewardship of the Corporation to ensure we do our job in the most efficient and effective manner possible. We also remain hopeful that by year-end, deposit insurance reform legislation will be a reality. I hope to be able to report this important milestone to you in the months ahead.

Your feedback to the Stakeholders Letter is always welcome, as are suggestions for improvements. For additional information, please visit our Web site at www.fdic.gov .

For your reference, �౦��Ϸ���� Financial Institution Letters may be accessed from the �౦��Ϸ����'s Web site at http://www.fdic.gov/news/financial-institution-letters/2003/index.html .

Distribution: �౦��Ϸ����-Insured Institutions

NOTE: Paper copies of �౦��Ϸ���� financial institution letters may be obtained through the �౦��Ϸ����'s Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342, option 5, or (703) 562-2200).