DIF Balance Sheet - Third Quarter 2023
Fund Financial Results ($ in millions)
| Balance Sheet |
| |
Sep-23 |
Jun-23 |
Quarterly Change |
Sep-22 |
Year-Over-Year Change |
Cash and cash equivalents |
$30,230 |
$25,353 |
$4,877 |
$5,767 |
$24,463 |
Investment in U.S. Treasury securities |
52,215 |
53,459 |
(1,244) |
116,572 |
(64,357) |
| Assessments receivable |
3,273 |
3,231 |
42 |
2,101 |
1,172 |
| Special Assessments receivable |
16,274 |
15,776 |
498 |
0 |
16,274 |
| Interest receivable on investments and other assets, net |
350 |
286 |
64 |
745 |
(395) |
| Receivables from resolutions, net |
158,395 |
159,468 |
(1,073) |
590 |
158,805 |
| Property and equipment |
368 |
366 |
2 |
355 |
13 |
| Operating lease right-of-use assets |
79 |
81 |
(2) |
98 |
(19) |
| Total Assets |
$261,184 |
$258,020 |
$3,164 |
$126,228 |
$134,956 |
| Accounts payable and other liabilities |
401 |
256 |
145 |
259 |
142 |
| Operating lease liabilities |
100 |
101 |
(1) |
114 |
(14) |
| Liabilities due to resolutions |
140,311 |
140,242 |
69 |
0 |
140,311 |
| Postretirement benefit liability |
232 |
232 |
0 |
332 |
(100) |
| Contingent liability for anticipated failures |
801 |
220 |
581 |
65 |
736 |
| Contingent liability for litigation losses |
0 |
1 |
(1) |
1 |
(1) |
| Total Liabilities |
$141,845 |
$141,052 |
$793 |
$771 |
$141,074 |
| FYI: Unrealized gain (loss) on U.S. Treasury securities, net |
(667) |
(1,007) |
340 |
(3,459) |
2,792 |
| FYI: Unrealized postretirement benefit (loss) gain |
27 |
27 |
0 |
(83) |
110 |
| Fund Balance |
$119,339 |
$116,968 |
$2,371 |
$125,457 |
($6,118) |
The portfolio’s yield
has experienced a
dramatic shift with
rising interest rates
over the last
year. This quarter’s
increase can be
attributed to both
the Federal Open
Market Committee’s
last rate hike, a
heavy concentration
of funds in the
overnight portfolio,
and taking an
impairment on
certain securities in
the conventional
portfolio.
Yield-To-Maturity Statisitcs
(dollars in billions)
|
Overnight |
Conventional |
Total Portifio |
| 4Q21 |
0.061% |
0.661% |
0.633% |
| 1Q22 |
0.132% |
0.667% |
0.641% |
| 2Q22 |
1.095% |
0.805% |
0.821% |
| 3Q22 |
2.758% |
1.282% |
1.351% |
| 4Q22 |
4.005% |
1.761% |
1.865% |
| 1Q23 |
4.755% |
2.811% |
3.163% |
| 2Q23 |
5.262% |
3.471% |
4.046% |
| 3Q23 |
5.475% |
4.234% |
4.689% |
