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Executive Summary

Last Updated: March 22, 2021

Executive Summary - Fourth Quarter 2020

The attached report highlights the FDIC’s financial activities and results for the quarter ended December 31, 2020.

  • During the fourth quarter of 2020, the Deposit Insurance Fund (DIF) balance rose to a record $117.9 billion as of December 31, 2020, up $1.5 billion from the September 30, 2020 balance of $116.4 billion. The quarterly increase was primarily due to $1.9 billion in assessment revenue, partially offset by $470 million in operating expenses.
  • The reserve ratio, which is the ratio of the DIF balance to estimated insured deposits, was 1.29 percent at December 31, 2020, down one basis point from September 30, 2020. Strong estimated insured deposit growth more than offset the growth in the DIF.
  • During the fourth quarter of 2020, the FDIC was named receiver for two failed financial institutions. The combined assets at inception for these failed institutions were $205 million with estimated losses to the DIF as of December 31, 2020, of $28 million. The corporate cash outlay during the fourth quarter for these failures was approximately $70 million.
  • Through December 31, 2020, overall FDIC Operating Budget expenditures were below the full-year budget by seven percent ($148 million). This variance was primarily the result of underspending in the Travel, Outside Services – Personnel, and Salaries and Compensation expense categories in the Ongoing Operations budget component and the Outside Services – Personnel expense category in the Receivership Funding budget component.