|
|
Savings Association Insurance Fund, Balance Sheets
June 2004
Dollars in Millions
| |
Unaudited June 30 |
December 31 2003 |
Unaudited June 30 2003 |
| Assets |
|
|
|
| Cash and Cash equivalents - unrestricted |
$434 |
$827 |
$1,445 |
| Cash and other assets - restricted for SAIF-member exit fees |
323 |
319 |
315 |
| Investment in U.S. Treasury obligations, net |
|
|
|
| Held-to-maturity securities |
7,896 |
6,824 |
6,050 |
| Available-for-sale securities |
3,624 |
4,152 |
4,186 |
| Interest receivable on investments and other assets, net |
204 |
189 |
160 |
| Receivables from thrift resolutions, net |
274 |
273 |
287 |
| Total Assets |
$12,755 |
$12,584 |
$12,443 |
| |
|
|
|
| Liabilities |
|
|
|
| Accounts payable and other liabilities |
$19 |
$21 |
$18 |
| Contingent liabilities for: |
|
|
|
| Anticipated failure of insured institutions |
2 |
3 |
26 |
| Litigation losses |
0 |
1 |
1 |
| SAIF-member exit fees and investment proceeds held in escrow |
323 |
319 |
315 |
| Total Liabilities |
$344 |
$344 |
$360 |
| |
|
|
|
| scope="col" |
|
|
|
| Accumulated net income |
12,187 |
11,966 |
11,756 |
| Unrealized gain on available-for-sale securities, net |
224 |
274 |
327 |
| Total Fund Balance |
12,411 |
12,240 |
12,083 |
| Total Liabilities and Fund Balance |
$12,755 |
$12,584 |
$12,443 |
| Investment Portfolio Total Returns |
| Period |
SAIF |
Merrill Lynch 1-10 Yr U.S. Treasury Index |
Variance |
| Year-to-Date (01/01/04 - 06/30/04) |
0.46% |
-0.22% |
0.68% |
| For the Year Ending 12/31/2003 |
3.01% |
2.13% |
0.88% |
| 01/01/01 - 06/30/04 |
5.90% |
5.39% |
0.52% |
| Source: Monthly Investment Status Report - June 2004 |
This graph compares the contingent liability to the estimated losses for thrifts that failed in the subsequent twelve months.
| Estimated Liabilities for Future Failures |
| |
Contingent liability for anticipated failures |
Estimated Loss of actual failures |
| 00 |
234 |
440 |
| 01 |
233 |
2 |
| 02 |
90 |
0 |
| 03 |
3 |
0 |
| 06/04 |
2 |
|
|
