Chief Financial Officer's (CFO) Report to the Board
DIF Balance Sheet - Fourth Quarter 2016
Fund Financial Results | ($ in millions) |
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2016 FDIC Actual Assessment Collections and Estimated Assessment Revenue |
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Quarter | Actual Regular Assessment Collections | Actual Surcharge Assessment | Estimated Surcharge Assessment |
First Quarter | $2.3 | $0 | $0 |
Second Quarter | $2.2 | $0 | $0 |
Third Quarter | $1.5 | $1.2 | $0 |
Fourth Quarter | $1.5 | $0 | $1.2 |
The third quarter decline in actual assessment collections is due to a decline in the effective assessent rate, from 6.2 bps to 4.1 bps due to the lower assessment rate schedule now that the Deposit Insurance Fund has reached 1.15 percent.