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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

301 Moved Permanently

301 Moved Permanently


Executive Summary - First Quarter 2012

The attached report highlights the Corporation’s financial activities and results for the quarter ending March 31, 2012.

  • During the first quarter of 2012, the Deposit Insurance Fund (DIF) balance increased by $3.5 billion, from $11.8 billion to $15.3 billion.  This quarterly increase was primarily due to $3.7 billion in assessment revenue, a $160 million unrealized gain on available-for-sale securities (U.S. Treasury obligations and trust preferred securities), and $64 million in other revenue, partially offset by $460 million in operating expenses.  Over the nine consecutive quarters since the beginning of 2010, the fund balance has increased a total of $36.2 billion.
  • During the first quarter of 2012, the FDIC was named receiver for 16 failed institutions.  The combined assets at inception for these institutions totaled approximately $4.9 billion with a total estimated loss of $1.3 billion.  The corporate cash outlay during the first quarter for these failures was approximately $2.0 billion.
  • Through March 31, 2012, overall Corporate Operating Budget expenditures were below budget by 17 percent ($126 million).  This variance was primarily the result of lower-than-budgeted spending in the Receivership Funding component for contractual services and operations at the sites of failed financial institutions.

On the pages following is an assessment of each of the three major finance areas: financial statements, investments, and budget.

Last Updated 06/08/2012

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