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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 - Fourth Quarter 2004

Fund Financial Results ($ in millions – All data is unaudited)
Income Statement BIF SAIF
  12/31/04 12/31/03 12/31/04 12/31/03
Assessments earned $        95 $         80 $         9 $         15
Interest earned on investment securities 1,553 1,530 555 532
Other revenue 28 16 0 0
Total Revenue $    1,676 $    1,626 $      564 $       547
Operating expenses (includes depreciation expense) 822 805 120 129
Provision for insurance losses (269) (931) (72) (82)
Other expenses 6 10 0 0
Total Expenses & Losses $      559 $      (116) $      48 $         47
Net Income $      1,117 $    1,742 $      516 $       500
Unrealized (loss)/gain on available-for-sale securities (112) (10) (36) (7)
YTD Comprehensive Income $      1,005 $    1,732 $      480 $       493


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
December 2004 731 269 -112 1,005


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
December 2004 435 72 -36 480


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
December 2004 $1,553 $822 1.89


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
December 2004 $555 $120 4.63




Last Updated 2/23/2005 dofbusinesscenter@fdic.gov

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