Federal Deposit
Insurance Corporation

Investment Strategies - Fourth Quarter 2014

Deposit Insurance Fund

Strategy for the 4^th Quarter 2014

Purchase up to $8 billion (par value) of Treasury securities with maturity dates between March 31, 2015, and March 31, 2020, subject to the following additional provisions: all newly purchased securities will be designated as available-for-sale (AFS); and no more than $2 billion (adjusted par value) of such securities shall consist of Treasury Inflation-Protected Securities (TIPS).

Strategy Changes for 1^st Quarter 2015

Purchase up to $8 billion (par value) of Treasury securities with maturity dates between June 30, 2015, and June 30, 2020, subject to the following additional provisions: all newly purchased securities will be designated as available-for-sale (AFS); and no more than $2 billion (adjusted par value) of such securities shall consist of Treasury Inflation-Protected Securities (TIPS).

National Liquidation Fund

Strategy for 4^th Quarter 2014

Maintain an overnight deposit target floor balance within a range of $100 million to $300 million.

Strategically invest the remaining funds in the zero- to 12-month maturity sector.

Strategy Changes for 1^st Quarter 2015

No strategy changes for the first quarter of 2015.