 ![[Graphic] Bank Insurance Fund Statements of Financial Position](images/finpos.gif)
![[Graphic] "Dollars in Thousands"](images/dollars.gif) |
|
|
|
December 31, 1996 |
December
31,1995 |
| Assets |
|
|
| Cash and cash
equivalents |
|
|
Investments in U.S.
Treasury obligations, net (Note 3)
(Market value of investments at December 31, 1996 and December 31, 1995 was $22.1 billion,
and $20.9 billion respectively) |
22,083,494 |
20,762,046
|
| Interest receivable on
investments and other assets, net |
384,824 |
406,804 |
| Receivables from bank
resolutions, net (Note 4) |
4,341,154 |
4,143,040
|
| Investment in corporate
owned assets, net (Note 5) |
63,406 |
180,293 |
| Property and buildings,
net (Note 6) |
148,400 |
151,740 |
| Total Assets |
|
|
|
|
|
| Liabilities and
the Fund Balance |
|
|
| Accounts payable and
other liabilities |
|
|
|
|
|
| Estimated liabilities
for: (Notes 8 and 9) |
|
|
| Anticipated failure of
insured institutions |
75,000 |
279,000 |
| Assistance agreements |
50,817 |
55,941 |
| Asset securitization
guarantees |
44,279 |
126,151 |
| Litigation losses |
14,750 |
35,815 |
| Total
Liabilities |
425,031 |
721,533
|
| Commitments and
contigencies (Notes 13 and 14) |
|
|
|
|
|
| Fund Balance |
26,854,379 |
25,453,698
|
| Total
Liabilities and the Fund Balance |
|
|
.
The accompanying notes are an integral part of these financial statements. |
![[Graphic] "Bank Insurance Fund Statements of Income and the Fund Balance"](images/income.gif)
|
|
|
|
For the Year Ended
December 31, 1996 |
For the Year Ended
December 31, 1995 |
| Revenue |
|
|
| Assessments
(Note 10) |
|
|
| Interest
on U.S. Treasury investments |
1,267,134 |
1,068,395 |
| Revenue
from corporate owned assets |
69,879 |
58,585 |
| Other
Revenue (Note 7) |
245,585 |
55,176 |
| Total
Revenue |
1,655,260 |
4,089,099 |
|
|
|
| Expenses and Losses |
|
|
| Operating
expenses |
505,299 |
470,625 |
| Reduction
in provision for insurance losses (Note 9) |
(325,206) |
(33,167) |
| Corportate
owned asset expenses |
73,819 |
73,599 |
| Interest
and other insurance expenses |
667 |
(27,874) |
| Total
Expenses and Losses |
254,579 |
483,183 |
|
|
|
| Net
Income |
1,400,681 |
3,605,916 |
|
|
|
| Fund
Balance - Beginning |
25,453,698 |
21,847,782 |
|
|
|
| Fund
Balance - Ending |
|
|
.
The accompanying notes are an integral part of
these financial statements. |
![[Graphic] "Bank Insurance Fund Statement of Cash Flows"](images/cashflow.gif)
|
|
|
|
For the Year Ended
December 31, 1996 |
For the Year Ended
December 31, 1995 |
| Cash
Flows from Operating Activities |
|
|
|
|
|
|
|
|
|
Interest on U.S.
Treasury investments |
|
1,303,629 |
875,226 |
|
Recoveries from bank
resolutions |
|
624,502 |
5,059,751 |
|
Recoveries from
corporate owned assets |
|
355,913 |
211,691 |
|
34,329 |
36,084 |
|
|
|
|
(489,372) |
(442,101) |
|
Disbursements for bank
resolutions |
|
(632,930) |
(1,596,391) |
|
Disbursements for
corporate owned assets |
|
(205,775) |
(159,299) |
|
Miscellaneous
disbursements |
|
(16,810) |
(23,929) |
Net
Cash Provided by Operating Activities
(Note 16) |
1,047,447 |
6,757,146 |
| Cash
Flows from Investing Activities |
|
|
|
|
|
|
Maturity of U.S.
Treasury obligations |
|
7,550,000 |
3,830,000 |
|
|
|
|
Purchase of U.S.
Treasury obligations |
|
(8,870,623) |
(11,675,925) |
| Net
Cash Used by Investing Activities |
(1,320,623) |
(7,845,925) |
| Cash
Flows from Financing Activities |
|
|
|
|
|
|
Repayments of
indebtedness incurred from bank resolutions |
|
0 |
(1,369) |
| Net
Cash Used by Financing Activities |
0 |
(1,369) |
| Net
Decrease in Cash and Cash Equivalents |
(273,176) |
(1,090,148) |
|
|
|
| Cash
and Cash Equivalents - Beginning |
531,308 |
1,621,456 |
| Cash
and Cash Equivalents - Ending |
|
|
.
The accompanying notes are an integral part of
these financial statements |
|
Notes to
Financial Statements (BIF) |
