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Executive Management Report

Insurance Funds
Bank Insurance Fund (BIF)
Savings Association Insurance Fund (SAIF)

The BIF and SAIF are separate insurance funds responsible for protecting insured depositors in operating banks and thrift institutions from loss due to failure of the institution. Since 1989, an active institution's insurance fund membership and primary federal regulator have been generally determined by the institution's charter type. Deposits of BIF-member institutions are primarily insured by the BIF; BIF members are predominantly commercial and savings banks regulated by the FDIC, the Office of the Comptroller of the Currency, or the Federal Reserve. Deposits of SAIF-member institutions are primarily insured by the SAIF; SAIF members are predominantly thrifts supervised by the Office of Thrift Supervision.

FINANCIAL HIGHLIGHTS
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Dollars in Millions

BIF

(Unaudited)

SAIF

(Unaudited)

12/31/02

12/31/01

12/31/02

12/31/01

Revenue

$1,795

$ 1,997

$ 589

$ 733

Operating Expenses

821

786

124

102

Insurance Losses/Expenses

(71)

1,773

(155)

462

Unrealized Gain on AFS (1)

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Securities, Net (Current Period)

 566 26 192 7

Comprehensive Income/(Loss)

 1,611 (536) 812 176

Fund Balance

$ 32,050

$ 30,439

$ 11,747

$ 10,935
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December 2002/2001                Reserve Ratio (2)

1.27%

1.26%

1.37%

1.36%

December 2002/2001                 Fund Balance

$32,050

$30,439

$11,747

$10,935

Estimated Insured Deposits

$2,527,448 (a)

$2,408,878 (a)

$860,351 (a)

$801,171 (a)

Total Insured Institutions

8,143 (a)

8,344 (a)

1,229 (a)

1,287 (a)
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Number of Failures, YTD

 10

3

1

1

Total Corporate Outlays, YTD

$2,099

$50

$37

$1,022

Total Estimated Corporate Losses, YTD

$628

$5

$1

$440

Total Assets at Failure (Current Year)

$2,508

$54

$50

$2,180

Assets in Liquidation (3)

$657

$132

$397

$194
 

(1) Available-for-Sale (AFS)

(2) The Reserve Ratio is equal to fourth quarter Fund Balance divided by the fourth quarter Estimated Insured Deposits. The statutorily established Designated Reserve Ratio is 1.25%.

(3) Assets in liquidation is the total book value of the noncash assets to be liquidated.

(a) Source: Fourth Quarter 2002 FDIC Quarterly Banking Profile. BIF figures includes 18 U.S. branches of foreign banks.

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Last Updated 04/08/2003 finance@fdic.gov

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