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

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DIF Balance Sheet - Fourth Quarter 2011

Fund Financial Results ($ in millions)
Balance Sheet
 
Unaudited Dec-11
Sep-11
Quarterly Change
Audited Dec-10
Year-Over-Year Change
Cash and cash equivalents $3,278 $9,929 ($6,651) $27,077 ($23,799)
Cash and investments - restricted - systemic risk 4,827 7,393 (2,566) 6,647 (1,820)
Investment in U.S. Treasury obligations, net 33,863 25,370 8,493 12,371 21,492
Trust preferred securities 2,213 2,179 34 2,298 (85)
Assessments receivable, net 282 231 51 218 64
Receivables and other assets - systemic risk 1,948 1,834 114 2,269 (321)
Interest receivable on investments and other assets, net 488 320 168 260 228
Receivables from resolutions, net 28,549 29,316 (767) 29,533 (984)
Property and equipment, net 402 401 1 416 (14)
Total Assets $75,850 $76,973 ($1,123) $81,089 ($5,239)
Accounts payable and other liabilities 374 369 5 514 (140)
Unearned revenue - prepaid assessments 17,400 20,360 (2,960) 30,057 (12,657)
Liabilities due to resolutions 32,791 31,492 1,299 30,512 2,279
Debt Guarantee Program liabilities - systemic risk 117 116 1 29 88
Deferred revenue - systemic risk 6,640 9,101 (2,461) 9,055 (2,415)
Postretirement benefit liability 188 166 22 166 22
Contingent liability for anticipated failures 6,511 7,247 (736) 17,688 (11,177)
Contingent and actual liability for systemic risk 2 9 (7) 120 (118)
Contingent liability for litigation losses 1 300 (299) 300 (299)
Total Liabilities $64,024 $69,160 ($5,136) $88,441 ($24,417)
FYI: Unrealized gain (loss) on U.S. Treasury investments, net 48 41 7 27 21
FYI: Unrealized gain (loss) on trust preferred securities 251 218 33 336 (85)
FYI: Unrealized postretirement benefit (loss) gain (34) (19) (15) (19) (15)
Fund Balance $11,826 $7,813 $4,013 ($7,352) $19,178
 

Downward Trend in Net Receivables from Resolutions

  • Since year-end 2009, the net receivables from resolutions has declined by $9.9 B to $28.5 B at year-end 2011.
  • During 2010, the net receivables declined by $8.9 B primarily due to the receipt of cash & non-cash dividends totaling $19.3 B from prior year failures and a $1.3 B increase in the estimated losses for prior year failures, partially offset by $11.1 B of net receivables from current year failures.
  • During 2011, the net receivables declined by $1.0 B primarily due to the receipt of cash & non-cash dividends totaling $7.8 B, offset by $5.4 B of net receivables from current year failures and a $0.7 B decrease in the estimated losses for prior year failures.
Downward Trend in Net Receivables from Resolutions ($ in million)
Quarter End
Net Receivable
4th Qtr. 2009
$38,409
1st Qtr. 2010
$39,091
2nd Qtr. 2010
$50,451
3rd Qtr. 2010
$49,684
4th Qtr. 2010
$29,533
1st Qtr 2011 $29,748
2nd Qtr 2011 $29,126
3rd Qtr 2011 $29,316
4th Qtr 2011 $28,549


Last Updated 04/13/2012 dofbusinesscenter@fdic.gov

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