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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 - Third Quarter 2012

The attached report highlights the Corporation’s financial activities and results for the quarter ended September 30, 2012.

  • During the third quarter of 2012, the Deposit Insurance Fund (DIF) balance increased by $2.5 billion, from $22.7 billion to $25.2 billion.  This quarterly increase was primarily due to $2.8 billion in assessment revenue and a decrease in the provision for insurance losses of $84 million, partially offset by $442 million in operating expenses.  Over the eleven consecutive quarters since the beginning of 2010, the fund balance has increased a total of $46.1 billion.
  • During the third quarter of 2012, the FDIC was named receiver for 12 failed institutions.  The combined assets at inception for these institutions totaled approximately $2.0 billion with a total estimated loss of $483 million.  The corporate cash outlay during the third quarter for these failures was approximately $606 million.
  • Through September 30, 2012, overall Corporate Operating Budget expenditures were below budget by 21 percent ($496 million), largely due to substantial under-spending in the Receivership Funding budget component.  That component was $391 million or 38 percent, under budget, while the Ongoing Operations component was $105 million, or 8 percent under budget.  The variance in the Receivership Funding component was primarily due to less costly resolutions and lower-than-anticipated asset management, marketing, and contract support costs for failed bank resolutions. 

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

Last Updated 11/28/2012

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