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Each depositor insured to at least $250,000 per insured bank



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

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DIF Balance Sheet - Fourth Quarter 2013

Fund Financial Results ($ in millions)
Balance Sheet
 
Audited Dec-13
Unaudited Sep-13
Quarterly Change
Audited Dec -12
Year-Over-Year Change
Cash and cash equivalents $3,543 $5,330 $(1,787) $3,100 $443
Investment in U.S. Treasury obligations, net 38,511 32,729 5,782 34,869 3,642
Trust preferred securities - - - 2,264 (2,264)
Assessments receivable, net 2,228 2,391 (163) 1,007 1,221
Interest receivable on investments and other assets, net 511 409 102 433 78
Receivables from resolutions, net 16,345 16,938 (593) 23,120 (6,775)
Property and equipment, net 377 373 4 393 (16)
Total Assets $61,515 $58,170 $3,345 $65,186 $(3,671)
Accounts payable and other liabilities 300 265 35 350 (50)
Unearned revenue - prepaid assessments - - - 1,576 (1,576)
Refunds of prepaid assessments - - - 5,675 (5,675)
Liabilities due to resolutions 12,626 15,754 (3,128) 21,174 (8,548)
Postretirement benefit liability 194 224 (30) 224 (30)
Contingent liability for anticipated failures 1,199 1,164 35 3,221 (2,022)
Contingent liability for litigation losses 5 5 - 8 (3)
Total Liabilities $14,324 $17,412 $(3,088) $32,228 $(17,904)
FYI: Unrealized gain (loss) on U.S. Treasury investments, net 20 39 (19) 34 (14)
FYI: Unrealized gain (loss) on trust preferred securities - - - 302 (302)
FYI: Unrealized postretirement benefit (loss) gain (16) (61) 45 (61) 45
Fund Balance $47,191 $40,758 $6,433 $32,958 $14,233
 
 
Income Statement Trend Schedule
$ in Billions
2008
2009
2010
2011
2012
2013
Cumulative
Assessments
3.0
17.7
13.6
13.5
12.4
9.7
69.9
Earnings on UST Invmts
4.7
-
0.1
0.1
0.1
0.1
5.2
Guarantee-Related Revenue:

Citi-term fee/earnings

-
2.2
0.5
0.1

0.2

0.3
3.3

TLGP (net of losses)

-
-
-
2.6
5.9
-
8.5

Other

-
1.0
0.04
0.1
0.1
0.03
1.2
Operating Expenses
1.0
1.3
1.6
1.6
1.8
1.6
8.9
Provision for Ins Losses
41.8
57.7
(0.8)
(4.4)
(4.2)
(5.7)
84.4
Comprehensive Income
(35.1)
(38.1)
13.5
19.2
19.2
14.2
(5.2)
Fund Balance
17.3
(20.9)
(7.4)
11.8
11.8
47.2
-

Since year-end 2007, the DIF's balance has declined from $52.4 billion to $47.2 billion, a total drop of $5.2 billion. However, over this same time period, the DIF has absorbed $84.6 billion in estimated losses for both actual and anticipated bank failures ($83.4 billion and $1.2 billion, respectively).

 


Last Updated 03/31/2014 dofbusinesscenter@fdic.gov

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