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I.
Corporate Fund Financial Results - Fourth Quarter 2013
Deposit Insurance Fund (DIF)
- For 2013, the DIF’s comprehensive income totaled $14.2 billion compared to comprehensive income of $21.1 billion during 2012. This $6.9 billion year-over-year decrease was primarily due to a $6.0 billion decrease in other revenue and a $2.7 billion decrease in assessments, partially offset by a $1.4 billion decrease in provision for insurance losses.
- The year-over-year decrease of $6.0 billion in other revenue primarily resulted from the recognition of $5.9 billion in revenue in 2012 for the Debt Guarantee Program fees that were previously held as systemic risk deferred revenue.
- The provision for insurance losses was negative $5.7 billion for 2013, compared to negative $4.2 billion for 2012. The negative provision primarily resulted from a $1.0 billion decrease in the contingent liability for anticipated failures due to the improvement in the financial condition of troubled institutions and a $4.8 billion decrease in the estimated losses for institutions that have failed in prior years.
Assessments
- During the fourth quarter of 2013, the DIF recognized $2.2 billion in assessment revenue for the estimated fourth quarter 2013 insurance coverage. On December 30, 2013, the FDIC collected $2.4 billion in DIF assessments for third quarter 2013 insurance coverage.
- Continued improvements in banks’ CAMELS ratings and financial condition have reduced banks’ risk-based assessment rates, resulting in a decline in DIF assessment revenue.
Quarterly DIF Assessments Revenue ($ in billions) |
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March 2012 |
$3.7 |
June 2012 |
$2.9 |
September 2012 |
$2.8 |
December 2012 |
$2.9 |
March 2013 |
$2.6 |
June 2013 |
$2.5 |
September 2013 |
$2.3 |
December 2013 |
$2.2 |
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