Executive Summary - Fourth Quarter 2022
The attached report highlights the FDIC’s financial activities and results for the quarter ended December 31, 2022.
- During the fourth quarter of 2022, the Deposit Insurance Fund (DIF) balance rose to a record $128.2 billion as of December 31, 2022, up $2.7 billion from the September 30, 2022 balance of $125.5 billion. The quarterly increase was primarily due to a $2.1 billion increase in assessment revenue.
- The reserve ratio increased by one basis point to 1.27 percent, as insured deposits increased 1.4 percent.
- There were no FDIC-insured financial institution failures during the fourth quarter of 2022; the last failure occurred on October 23, 2020.
- Through December 31, 2022, overall FDIC Operating Budget expenditures were below the full-year budget by 15 percent ($339.4 million). This was primarily the result of underspending of $284.2 million (13 percent) in every major expense category in the Ongoing Operations budget component. Expenditures in the Receivership Funding budget component were also below budget by $50.5 million (67 percent) due largely to the absence of failure activity in 2022.
- During the fourth quarter of 2022, the CFO approved one budget adjustment. There were no adjustments to authorized 2022 staffing.