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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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I. Corporate Fund Financial Results - First Quarter 2014

Deposit Insurance Fund (DIF)

  • For the three months ending March 31, 2014, the DIF’s comprehensive income totaled $1.7 billion compared to comprehensive income of $2.8 billion for the same period last year.  This $1.1 billion decrease was mostly due to a $252 million decrease in assessment revenue and an $847 million increase in provision for insurance losses.
  • The provision for insurance losses was $348 million for the first quarter of 2014.  The positive provision primarily resulted from a $520 million increase in the estimated losses for future failures and a $167 million decrease in the estimated losses for institutions that failed in current and prior years.

Assessments

  • During the first quarter of 2014, the DIF recognized a total of $2.4 billion in assessment revenue.  Of this amount, the estimate for first quarter 2014 insurance coverage totaled $2.3 billion.  Additionally, the DIF recognized a net adjustment of $127 million that increased assessment revenue. This adjustment consisted of $29 million in prior period amendments and a $156 million increase to the estimate for fourth quarter 2013 insurance coverage recorded at December 31, 2013. The latter adjustment was due to higher than estimated assessment base and rates.
  • On March 28, 2014, the FDIC collected $2.4 billion in DIF assessments for fourth quarter 2013 insurance coverage.

 

 



Last Updated 06/03/2014 dofbusinesscenter@fdic.gov

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