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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


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Executive Summary - First Quarter 2013

The attached report highlights the Corporation’s financial activities and results for the quarter ended March 31, 2013.

  • During the first quarter of 2013, the Deposit Insurance Fund (DIF) balance increased by $2.7 billion, from $33.0 billion to $35.7 billion.  This quarterly increase was primarily due to $2.6 billion of assessment revenue and a negative $499 million provision for insurance losses, partially offset by $436 million of operating expenses.  The DIF balance has increased by $31.8 billion since the fund became positive on June 30, 2011 after seven consecutive quarters of negative balances.
  • During the first quarter of 2013, the FDIC was named receiver for four failed institutions.  The combined assets at inception for these institutions totaled approximately $463 million with a total estimated loss of $116 million.  The corporate cash outlay during the first quarter for these failures was approximately $155 million.  This is the lowest quarterly failure count since the second quarter of 2008, when two institutions failed.
  • Through March 31, 2013, overall Corporate Operating Budget expenditures were below budget by 14 percent ($91 million).  This variance was primarily the result of lower-than-budgeted spending for contractual services and operations at the site of failed financial institutions in the Receivership Funding component.

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



Last Updated 05/31/2013 dofbusinesscenter@fdic.gov

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