Skip Header

Federal Deposit
Insurance Corporation

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

Home > About FDIC > Financial Reports > Chief Financial Officer's (CFO) Report to the Board

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

Skip Left Navigation Links

I. Corporate Fund Financial Results - First Quarter 2009

Deposit Insurance Fund (DIF)

  • For the three months ending March 31, 2009, the DIF’s comprehensive loss totaled $4.3 billion compared to comprehensive income of $430.1 million for the same period last year. The year-over-year decrease of $4.7 billion was mostly due to a $6.1 billion increase in the provision for insurance losses, a $458.3 million decrease in the unrealized gain on available-for-sale securities, and a $406.1 million decrease in interest earned on U.S. Treasury obligations; partially offset by a $2.2 billion increase in assessment revenue and a $136.3 million increase in realized gains from the sale of U.S. Treasury obligations.
  • In February, the FDIC received $3.0 billion in preferred stock from Citigroup in return for providing a loss guarantee (up to $10 billion–after initial losses of $44.5 billion are taken by Citigroup and U.S. Treasury) on an asset pool of $300.8 billion of loans and securities backed by residential and commercial real estate. The preferred stock is reported in the “Preferred stock – systemic risk” line item on DIF’s balance sheet. The FDIC also received the first quarterly dividend of $20.2 million from the preferred stock in February.
  • For the first three months of 2009, the FDIC collected $3.8 billion in fees under the Debt Guarantee Program (DGP) and $90.0 million in fees under the Transaction Account Guarantee Program (TAGP). For the 21 failures that occurred during the first quarter of 2009, the FDIC paid $323.3 million in claims under the TAGP and recorded estimated losses of $66.5 million against this receivable.

FSLIC Resolution Fund (FRF)

  • FRF paid Goodwill judgments for three cases in the aggregate amount of $142.3 million that were accrued in 2008.

Last Updated 06/22/2009

Skip Footer back to content