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Chief Financial Officer's (CFO) Report to the Board

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Chief Financial Officer's (CFO) Report to the Board Home
Executive Summary

   •  Summary Trends and Results
I. Corporate Fund Financial Results
   •  BIF & SAIF Balance Sheet
   •  BIF & SAIF Income Statement
   •  BIF & SAIF Statements of Cash Flows
   •  FRF Statements of Cash Flows
   •  Assets in Liquidation
II. Investments Results & Prospective Strategy
   •  Corporate Investment Portfolio Summary
   •  Approved Investment Strategy
III. Budget Results
   •  Budget & Expenditures by Major Expense Categories
   •  Budget & Expenditures by Budget Component, Division & Office
BIF & SAIF Income Statement - Third Quarter 2004

Fund Financial Results ($ in millions – All data is unaudited)
Income Statement BIF SAIF
  9/30/04 9/30/03 9/30/04 9/30/03
Assessments earned $        67 $         60 $         7 $         11
Interest earned on investment securities 1,158 1,153 414 400
Other revenue 17 12 0 0
Total Revenue $    1,242 $    1,225 $      421 $       411
Operating expenses (includes depreciation expense) 606 586 89 94
Provision for insurance losses (133) (682) 23 (92)
Other expenses 4 5 0 0
Total Expenses & Losses $      477 $      (91) $      112 $          2
Net Income $      765 $    1,316 $      309 $       409
Unrealized (loss)/gain on available-for-sale securities (80) 96 (26) 30
YTD Comprehensive Income $      685 $    1,412 $      283 $       439


BIF Key Components Impact on Comprehensive Income

BIF Key Components Impact on Comprehensive Income
Year Int. Rev less Oper. Exp. Provision for Loss Unrealized gain/(loss) on AFS Comprehensive Income
2000 1,054 -153 300 1,561
2001 1,048 1,756 26 -536
2002 871 -87 566 1,611
2003 725 -931 -10 1,732
September 2004 552 -133 -80 685


SAIF Key Components Impact on Comprehensive Income

SAIF Key Components Impact on Comprehensive Income
Year Int. Rev less Oper. Exp. Provision for Loss Unrealized gain/(loss) on AFS Comprehensive Income
2000 533 181 114 478
2001 532 443 7 176
2002 440 -156 192 812
2003 403 -82 -7 493
September 2004 325 23 -26 283


BIF Coverage Ratio (Interest Revenue/Operating Expenses)

BIF Coverage Ratio (Interest Revenue/Operating Expenses)
Year Interest on Obligations Operating Expense Coverage Ratio
2000 $1,827 $773 2.36
2001 $1,835 $786 2.33
2002 $1,692 $821 2.06
2003 $1,530 $805 1.90
September 2004 $1,158 $606 1.91


SAIF Coverage Ratio (Interest Revenue/Operating Expenses)

SAIF Coverage Ratio (Interest Revenue/Operating Expenses)
Year Interest on Obligations Operating Expense Coverage Ratio
2000 $644 $111 5.80
2001 $634 $102 6.22
2002 $564 $124 4.55
2003 $532 $129 4.12
September 2004 $414 $89 4.65




Last Updated 11/17/2004 dofbusinesscenter@fdic.gov

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