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Federal Deposit
Insurance Corporation

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

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

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I. Corporate Fund Financial Results - First Quarter 2012

Deposit Insurance Fund (DIF)

  • For the three months ended March 31, 2012, the DIF’s comprehensive income totaled $3.5 billion compared to comprehensive income of $6.3 billion for the same period last year.  This $2.9 billion decrease was mostly due to a $3.1 billion year-to-year increase in loss provisions (a nominal $12 million at the end of the first quarter 2012 vs. a negative $3.1 billion at the same time in 2011), partially offset by a $210 million increase in assessment revenue and a $103 million increase in unrealized gains on available-for-sale securities (U.S. Treasury obligations and trust preferred securities).
  • The provision for insurance losses was $12 million for the first quarter of 2012, primarily the result of a $113 million increase to the contingent loss reserve offset by an $82 million reduction in the estimated losses for banks that had previously failed.

FSLIC Resolution Fund (FRF)

  • During the first quarter, the FRF’s cash and cash equivalents increased by $46 million to $3.6 billion primarily due to the collection of $44 million in tax benefits arising from a former FSLIC assistance agreement.


  • The DIF recognized $3.7 billion in estimated assessment revenue for first quarter 2012 insurance coverage. Of this amount, $3.4 billion represented the estimate for first quarter 2012 insurance coverage—$3.1 billion was recognized for those institutions that prepaid assessments and $318 million was recorded as a receivable from those institutions that did not have any prepaid assessments available for offset. An adjustment of $285 million was recognized for prior period amendments of $225 million and a $60 million increase to the estimate for fourth quarter 2011 insurance coverage that was recorded at year-end 2011.  The latter adjustment was due to higher than estimated growth in average assessment rates.

Quarterly Assessments Premiums

Quarterly Assessments Permiums based on insurance coverage period ($ in millions)
Quarterly Assessments Premiums
4th Qtr 2008 $1,087
1st Qtr 2009 $2,593
2nd Qtr 2009 $3,196
3rd Qtr 2009 $8,622
4th Qtr 2009 $3,262
1st Qtr 2010 $3,302
2nd Qtr 2010 $3,461
3rd Qtr 2010 $3,397
4th Qtr 2010 $3,432
1st Qtr 2011 $3,450
2nd Qtr 2011 $3,404
3rd Qtr 2011 $3,298
4th Qtr 2011 $3,385
1st Qtr 2012 $3,407
  • On March 30, 2012, the FDIC collected $273 million in DIF assessments for fourth quarter 2011 insurance coverage. DIF Unearned Revenue (remaining prepaid assessments) totaled $14.0 billion at March 31, 2012.

Last Updated 06/08/2012

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