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TO:	CHIEF EXECUTIVE OFFICER
SUBJECT:	Fourth Quarter 2003 Edition of the �౦��Ϸ����'s Letter to Stakeholders
Summary:	The �౦��Ϸ���� issues its seventh Letter to Stakeholders, a report of the agency's activities for the fourth quarter of 2003.

�౦��Ϸ���� (�౦��Ϸ����) is pleased to issue its seventh Letter to Stakeholders, which reports on our priorities and activities for the fourth quarter of 2003.

Last year was a very productive one in realizing our aggressive goals for 2003. We continued to make progress on further reducing our spending by becoming a more efficient and cost-conscious organization. In 2004, we will 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 that we do our job in the most efficient and effective manner possible.

Your feedback to the Stakeholders Letter is always welcome, as are suggestions for improvement. 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 www.fdic.gov/news/financial-institution-letters/2004/index.html .

	Don Powell
	Chairman

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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 or (703) 562-2200).

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Additional Related Topics:

• Letter to Stakeholders: Fourth Quarter 2003