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Chief Financial Officer's (CFO) Report to the Board

301 Moved Permanently

301 Moved Permanently


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DIF Balance Sheet - First Quarter 2013

Fund Financial Results ($ in millions)
Balance Sheet
 
Unaudited Mar-13
Audited Dec-12
Quarterly Change
Unaudited Mar -12
Year-Over-Year Change
Cash and cash equivalents $1,052 $3,100 ($2,048) $741 $311
Cash and investments - restricted - systemic risk - - - 4,723 (4,723)
Investment in U.S. Treasury obligations, net 37,474 34,869 2,605 33,937 3,537
Trust preferred securities 2,256 2,264 (8) 2,329 (73)
Assessments receivable, net 1,295 1,007 288 318 977
Receivables and other assets - systemic risk - - - 1,974 (1,974)
Interest receivable on investments and other assets, net 470 433 37 505 (35)
Receivables from resolutions, net 22,549 23,120 (571) 28,963 (6,414)
Property and equipment, net 381 393 (12) 389 (8)
Total Assets $65,477 $65,186 $291 $73,879 ($8,402)
Accounts payable and other liabilities 319 350 (31) 364 (45)
Unearned revenue - prepaid assessments - 1,576 (1,576) 14,002 (14,002)
Refunds of prepaid assessments 5,829 5,675 154 - 5,829
Liabilities due to resolutions 20,696 21,174 (478) 32,000 (11,304)
Deferred revenue - systemic risk - - - 6,698 (6,698)
Postretirement benefit liability 224 224 - 188 36
Contingent liability for anticipated failures 2,659 3,221 (562) 5,330 (2,671)
Contingent liability for litigation losses 8 8 - 5 3
Total Liabilities $29,735 $32,228 ($2,493) $58,587 ($28,852)
FYI: Unrealized gain (loss) on U.S. Treasury investments, net 72 34 38 92 (20)
FYI: Unrealized gain (loss) on trust preferred securities 294 302 (8) 367 (73)
FYI: Unrealized postretirement benefit (loss) gain (61) (61) - (34) (27)
Fund Balance $35,742 $32,958 $2,784 $15,292 $20,450
 
 
 
Income Statement Trend Schedule
$ in Billions 2008 2009 2010 2011 2012 Thru 3/31/13 Cumulative
Assessments 3.0 17.7 13.6 13.5 12.4 2.6 62.8
Earnings on UST Invmts 4.7 0 0.1 0.1 0.1 0.03 5.1
Guarantee-Related Revenue:

Citi-term fee/earnings

0 2.2 0.5 0.1 0.2 0.04 3.0

TLGP (net of losses)

0 0 0 2.6 5.9 0 8.5

Other

0 1.0 0.04 0.1 0.1 0.01 1.2
Operating Expenses 1.0 1.3 1.6 1.6 1.8 0.4 7.7
Provision for Ins Losses 41.8 57.7 (0.8) (4.4) (4.2) (0.5) 89.6
Comprehensive Income (35.1) (38.1) 13.4 19.2 21.1 2.8 (16.7)
Fund Balance 17.3 (20.9) (7.4) 11.8 33.0 35.7  

Since year-end 2007, the DIF's balance has declined from $52.4 billion to $35.7 billion, a total drop of $16.7 billion. Over this time period, DIF has absorbed $89.5 billion in estimated losses for both actual and anticipated bank failures ($86.8 billion and $2.7 billion, respectively).

Last Updated 06/03/2013 dofbusinesscenter@fdic.gov

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