301 Moved Permanently
301 Moved Permanently
openresty
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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.
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