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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

   •  DIF Balance Sheet
   •  DIF Income Statement
   •  DIF Statements of Cash Flows
   •  FRF Statements of Cash Flows
II. Investments Results & Prospective Strategies

   •  Corporate Investment Portfolio Summary
   •  Approved Investment Strategy
III. Budget Results

   •  Budget & Expenditures by Major Expense Categories
   •  Budget & Expenditures by Budget Component, Division & Office
Printable Version

DIF Income Statement - Fourth Quarter 2007

Fund Financial Results ($ in millions)
Income Statement
  (audited) 12/31/2007 (unaudited) 9/30/2007 Quarterly Change (audited) 12/31/2006 Year-Over-Year Change
Assessments earned $643 $404 $239 $32 $611
Interest earned on investment securities 2,540 1,955 585 2,241 299
Exit fees earned 0 0 0 345 (345)
Other revenue 14 11 3 26 (12)
Total Revenue $3,197 $2,370 $827 $2,644 $553
Operating expenses (includes depreciation expense) 993 730 263 951 42
Provision for insurance losses 95 56 39 (52) 147
Other expenses 3 2 1 6 (3)
Total Expenses & Losses $1,091 $788 $303 $905 $186
Net Income $2,106 $1,582 $524 $1,739 $367
Unrealized gain/(loss) on available-for-sale securities, net 125 (13) 138 (173) 298
Unrealized postretirement benefit gain/(loss) 17 20 (3) 2 15
YTD Comprehensive Income $2,248 $1,589 $659 $1,568 $680

Components of Provision for Insurance Losses

Over the last three years, the provision for insurance losses added to net income as estimated losses that had been previously booked for both existing receiverships and potential failures were reversed. During 2007, this trend had reversed.

Components of Provision for Insurance Losses
Year
Closed Banks
Anticipated Failures
Other
Total Provision for Losses
2004
(154)
(171) (28) (353)
2005
(159)
(5) 4 (160)
2006 (153) 105 (4) (52)
2007
81
14 0 95

Interest Earned on Investment Securities

Interest Earned on Investment Securities
Year Interest Income TIPS Inflation Compensation Total Interest Earned
2005 $1,996 $345 $2,342
2006 $2,131 $109 $2,241
2007 $2,226 $314 $2,540

Last Updated 03/11/2008
  dofbusinesscenter@fdic.gov