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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 2015

The attached report highlights the Corporation’s financial activities and results for the quarter ended September 30, 2015.

  • During the third quarter of 2015, the DIF balance increased by $2.5 billion, from $67.6 billion to $70.1 billion.  This quarterly increase was primarily due to $2.2 billion of assessment revenue, $122 million in interest on U.S. Treasury obligations, and a $578 million decrease in the provision for insurance losses, partially offset by $410 million of operating expenses.
  • During the third quarter of 2015, the FDIC was named receiver for one failed institution.  The assets at inception for this institution totaled $29 million with an estimated loss of $4 million.  The corporate cash outlay during the third quarter for this failure was approximately $7 million.
  • Through September 30, 2015, overall Corporate Operating Budget expenditures were below budget by 9 percent ($155 million).  Spending in the Ongoing Operations component was $98 million, or 7 percent, under budget, largely due to underspending in the salaries and compensation, equipment, and contractual services major expense categories.  Spending in the Receivership Funding component was $56 million, or 16 percent, under budget, primarily due to lower-than-budgeted contract expenses attributable to fewer bank failures and less costly resolutions and to lower-than-anticipated asset management and marketing costs.

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

Last Updated 11/30/2015

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