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DIF Balance Sheet

Last Updated: June 22, 2021

DIF Balance Sheet - First Quarter 2021

Fund Financial Results ($ in millions)
Balance Sheet
Mar-21 Dec-20 Quarterly Change Mar-20 Year-Over-Year Change
Cash and cash equivalents $4,895 $3,311 $1,584 $9,490 ($4,595)
Investment in US Treasury securities 110,680 110,464 216 99,733 10,947
Assessments receivable 1,941 1,949 (8) 1,357 584
Interest receivable on investments and other asses, net 969 1,159 (190) 709 260
Receivables from resolutions, net 1,220 1,367 (147) 2,456 (1,236)
Property and equipment, net 321 321 0 326 (5)
Operating lease right-of-use assets 110 112 (2) 120 (10)
Total Assets $120,136 $118,683 $1,453 $114,191 $5,945
Accounts payable and other liabilities 255 251 4 215 40
Operating lease liabilities 117 119 (2) 127 (10)
Liabilities due to resolutions 1 1 0 213 (212)
Postretirement benefit liability 336 336 0 289 47
Contingent liabilty for anticipated failures 65 79 (14) 107 (42)
Contingent liabilty for guarantee payments and litigaton losses 0 0 0 34 (34)
Total Liabilities $774 $786 ($12) $985 ($211)
FYI: Unrealized gain (loss) on US Treasury securities, net 785 1,070 (285) 2,037 (1,252) 
FYI: Unrealized postretirement benefit (loss) gain (98) (98) 0 (61) (37)
Fund Balance $119,362 $117,897 $1,465 $113,206 $6,156


Assessment Revenue

Assessment Revenue (dollars in billions)
  2Q 2019 3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021*
Assessments Revenue $1.19 $1.11 $1.27 $1.37 $1.79 $2.05 $1.88 $1.86
Effective Assessment Rate (bps) 3.480 3.472 3.476 3.800 4.036 4.092 4.064 4.180
Assessment Base $15,674 $15,904 $16,157 $16,486 $18,153 $18,464 $18,806 $18,994

*1Q 2021 represents estimates rather than actual.

Beginning in 4Q 2019, a combination of increases in assessment rates and the assessment base contributed to higher quarterly assessment revenue through 3Q 2020. For the subsequent two quarters, assessment revenue declined slightly due to adjustments in estimated versus actual collections for the prior quarter.

Assessment revenue was offset by small bank credits of $320 million in 2Q 2019, $239 million in 3Q 2019, $149 million in 4Q 2019, $51 million in 1Q 2020, and $6 million in 2Q 2020.