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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


I. Corporate Fund Financial Results - Fourth Quarter 2011

Deposit Insurance Fund (DIF)

  • For 2011, the DIF’s comprehensive income totaled $19.2 billion compared to comprehensive income of $13.5 billion during 2010.  This $5.7 billion year-over-year increase was primarily due to a $3.6 billion decrease in the provision for insurance losses and $2.6 billion in revenue from excess DGP fees previously held as systemic risk deferred revenue, partially offset by a year-to-date net change in the fair value of available-for-sale securities of $285 million (U.S. Treasury obligations and trust preferred securities) and a $112 million decrease in assessments earned.
  • As of year-end 2011, the DIF recognized revenue of $2.6 billion for a portion of DGP guarantee fees previously collected and held as systemic risk deferred revenue.  In addition, an equal amount of restricted DGP cash and investments were transferred to the DIF investment portfolio.  The $2.6 billion relates to fees on debt guarantees that have expired.  Because of uncertainties surrounding the outlook for the economy and financial markets, the FDIC will continue to defer recognition of the remaining $5.7 billion in systemic risk deferred revenue.  The last DGP debt guarantee will expire on December 31, 2012.  
  • The provision for insurance losses was negative $4.4 billion for 2011.  The negative provision for 2011 primarily resulted from a reduction in the contingent loss reserve due to the improvement in the financial condition of institutions that were previously identified to fail and a reduction in the estimated losses for institutions that failed in prior years.

FSLIC Resolution Fund (FRF)

  • On December 29, 2011, the FRF paid $50 million as a result of a settlement in the American Savings goodwill case.  Five goodwill related cases remain active as of year-end 2011.
  • In December, FRF recorded a $44 million receivable for tax benefits as a result of a former FSLIC assistance agreement.  This receivable was collected in February 2012.


  • The DIF recognized $3.2 billion in estimated assessment revenue for fourth quarter 2011 insurance coverage.  Of this amount, $3.0 billion was recognized for those institutions that prepaid assessments and $282 million was recorded as a receivable from those institutions that did not prepay assessments.  Assessment revenue was reduced by $113 million as a result of actual third quarter assessment collections being slightly lower than estimates that were recorded at September 30, 2011, due to lower than estimated growth in the assessment base and average assessment rates.

Quarterly Assessment Premiums

Quarterly Assessments Permiums based on insurance coverage period ($ in millions)
Quarterly Assessments Premiums
4th Qtr 2008 $1,087
1st Qtr 2009 $2,593
2nd Qtr 2009 $3,196
3rd Qtr 2009 $8,622
4th Qtr 2009 $3,262
1st Qtr 2010 $3,302
2nd Qtr 2010 $3,461
3rd Qtr 2010 $3,397
4th Qtr 2010 $3,432
1st Qtr 2011 $3,450
2nd Qtr 2011 $3,404
3rd Qtr 2011 $3,298
4th Qtr 2011 $3,323
  • On December 30, 2011, the FDIC collected $230 million in DIF assessments for third quarter 2011 insurance coverage.  The DIF recognized $13.5 billion in assessment revenue for 2011.  DIF Unearned Revenue (remaining prepaid assessments) totals $17.4 billion at December 31, 2011.

Last Updated 12/05/2011

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