BIF, SAIF, and Combined Coverage Ratios D-Link
SUMMARY - Combined Portfolios
(All dollar values in millions)

assumed BIF portfolio annual growth rate 2002.2 - 2007 (note 1)0.0%
assumed SAIF portfolio annual growth rate 2002.2 - 2007 (note 1)0.0%
assumed reinvestment yield for new securities3.0%
assumed growth rate in BIF operating expenses 2003 - 20073.0% (note: 8.44% actual avg. growth rate 1996 - 2002)
assumed growth rate in SAIF operating expenses 2003 - 20073.0% (note: 11.95% actual avg. growth rate 1996 - 2002)

BIF, SAIF, and Combined Coverage Ratios
(Actual 1996 - 2002, Estmated 2003 - 2007)
year (or period)
(note 2)		 BIF portfolio
interest revenue
(note 3)		 BIF portfolio
ending yield		 BIF operating
expenses
(note 4)		 BIF coverage
ratio		 SAIF portfolio
interest revenue
(note 3)		 SAIF portfolio
ending yield		 SAIF operating
expenses
(note 4)		 SAIF coverage
ratio		 combined portfolio
interest revenue		 combined operating
expenses		 combined
coverage
ratio
1996 $1,267 5.96% $505 2.51 $254 5.88% $63 4.06 $1,521 $568 2.68
1997 $1,519 6.13% $605 2.51 $536 6.01% $72 7.45 $2,055 $677 3.03
1998 $1,674 6.01% $698 2.40 $563 5.87% $85 6.65 $2,237 $782 2.86
1999 $1,734 6.11% $730 2.37 $586 5.96% $93 6.31 $2,319 $823 2.82
2000 $1,827 6.27% $773 2.36 $644 6.19% $111 5.81 $2,472 $884 2.80
2001 $1,835 5.76% $786 2.33 $634 5.90% $102 6.24 $2,469 $888 2.78
2002 $1,692 5.24% $821 2.06 $564 5.07% $124 4.55 $2,256 $945 2.39
2003 $1,585 4.88% $846 1.87 $549 4.80% $128 4.30 $2,133 $973 2.19
2004 $1,471 4.51% $871 1.69 $518 4.52% $132 3.94 $1,989 $1,003 1.98
2005 $1,356 4.15% $897 1.51 $492 4.33% $135 3.63 $1,849 $1,033 1.79
2006 $1,249 3.83% $924 1.35 $466 4.05% $140 3.34 $1,715 $1,064 1.61
2007 $1,161 3.59% $952 1.22 $437 3.81% $144 3.04 $1,598 $1,096 1.46

NOTES:

1. This analysis assumes that the BIF and SAIF investment portfolios stay constant at their December 31, 2002, levels through 2007, in order to isolate the potential effects on interest revenue resulting from a low yield reinvestment environment. (To the extent that resolution activity is low, portfolios are likely to grow; on the other hand, to the extent that resolution activity is high, portfolio sizes would decline.) This analysis assumes that beginning in 2003, all maturing securities are reinvested at the assumed low reinvestment rate.

2. All figures for 1996 through the 2002 reflect actual data (obtained from FDIC Annual Reports and quarterly investment reports for the Board of Directors). All figures for 2003 through 2007 are projections.

3. Portfolio interest revenue (actual or projected) does not reflect unrealized or realized gains/losses on available-for-sale (AFS) securities.

4. BIF and SAIF operating expenses are those classified as such on the BIF and SAIF financial statements. For example, they do not include provisions for insurance losses, expenses for assets acquired from assisted banks and terminated receiverships, and interest and other insurance expenses.