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



Home > About FDIC > Financial Reports > 1996 Annual Report




1996 Annual Report


Bank Insurance Fund
FDIC

[Graphic] Bank Insurance Fund Statements of Financial Position

[Graphic] "Dollars in Thousands"
December 31, 1996 December 31,1995
Assets
Cash and cash equivalents
$ 258,132
$ 531,308
Investments in U.S. Treasury obligations, net (Note 3)
(Market value of investments at December 31, 1996 and December 31, 1995 was $22.1 billion, and $20.9 billion respectively)
22,083,494 20,762,046
Interest receivable on investments and other assets, net 384,824 406,804
Receivables from bank resolutions, net (Note 4) 4,341,154 4,143,040
Investment in corporate owned assets, net (Note 5) 63,406 180,293
Property and buildings, net (Note 6) 148,400 151,740
Total Assets
$ 27,279,410
$ 26,175,231
Liabilities and the Fund Balance
Accounts payable and other liabilities
$ 240,185
$ 224,626
Estimated liabilities for: (Notes 8 and 9)
Anticipated failure of insured institutions 75,000 279,000
Assistance agreements 50,817 55,941
Asset securitization guarantees 44,279 126,151
Litigation losses 14,750 35,815
Total Liabilities 425,031 721,533
Commitments and contigencies (Notes 13 and 14)
Fund Balance 26,854,379 25,453,698
Total Liabilities and the Fund Balance
$ 27,279,410
$ 26,175,231
.
The accompanying notes are an integral part of these financial statements.

 

"FDIC"

[Graphic] "Bank Insurance Fund Statements of Income and the Fund Balance"

"Dollars in Thousands"
For the Year Ended
December 31, 1996
For the Year Ended
December 31, 1995
Revenue
Assessments (Note 10)
$ 72,662
$ 2,906,943
Interest on U.S. Treasury investments 1,267,134 1,068,395
Revenue from corporate owned assets 69,879 58,585
Other Revenue (Note 7) 245,585 55,176
Total Revenue 1,655,260 4,089,099
Expenses and Losses
Operating expenses 505,299 470,625
Reduction in provision for insurance losses (Note 9) (325,206) (33,167)
Corportate owned asset expenses 73,819 73,599
Interest and other insurance expenses 667 (27,874)
Total Expenses and Losses 254,579 483,183
Net Income 1,400,681 3,605,916
Fund Balance - Beginning 25,453,698 21,847,782
Fund Balance - Ending
$ 26,854,379
$ 25,453,698
.
The accompanying notes are an integral part of these financial statements.

 

FDIC

[Graphic] "Bank Insurance Fund Statement of Cash Flows"

[Graphic] "Dollars in Thousands"
For the Year Ended
December 31, 1996
For the Year Ended
December 31, 1995
Cash Flows from Operating Activities
Cash Provided from:
Assessments
$ 73,961
$ 2,796,114
Interest on U.S. Treasury investments
1,303,629 875,226
Recoveries from bank resolutions
624,502 5,059,751
Recoveries from corporate owned assets
355,913 211,691
Miscellaneous receipts
34,329 36,084
Cash used for:
Operating expenses
(489,372) (442,101)
Disbursements for bank resolutions
(632,930) (1,596,391)
Disbursements for corporate owned assets
(205,775) (159,299)
Miscellaneous disbursements
(16,810) (23,929)
Net Cash Provided by Operating Activities
(Note 16)
1,047,447 6,757,146
Cash Flows from Investing Activities
Cash provided from:
Maturity of U.S. Treasury obligations
7,550,000 3,830,000
Cash used for:
Purchase of U.S. Treasury obligations
(8,870,623) (11,675,925)
Net Cash Used by Investing Activities (1,320,623) (7,845,925)
Cash Flows from Financing Activities
Cash used for:
Repayments of indebtedness incurred from bank resolutions
0 (1,369)
Net Cash Used by Financing Activities 0 (1,369)
Net Decrease in Cash and Cash Equivalents (273,176) (1,090,148)
Cash and Cash Equivalents - Beginning 531,308 1,621,456
Cash and Cash Equivalents - Ending
$ 258,132
$ 531,308
.
The accompanying notes are an integral part of these financial statements

 

Notes to Financial Statements (BIF)


[FDIC HOME] [TOP OF REPORT] [PREVIOUS PAGE] [NEXT PAGE] [CONTENTS]

Last Updated 07/09/99 communications@fdic.gov