The effective rates from 1950 through 1984 vary from the statutory
rate of 0.0833 percent due to assessment credits provided in those
years. The statutory rate increased to 0.12 percent in 1990 and to
a minimum of 0.15 percent in 1991. The effective rates in 1991 and
1992 vary because the FDIC exercised new authority to increase assessments
above the statutory rate when needed. Beginning in 1993, the effective
rate is based on a risk-related premium system under which institutions
pay assessments in the range of 0.23 percent to 0.31 percent. In May
1995, the BIF reached the mandatory recapitalization level of 1.25%.
As a result, the assessment rate was reduced to 4.4 cents per $100
of insured deposits and assessment premiums totaling $1.5 billion
were refunded in September 1995.
2 These expenses, which
are presented as operating expenses in the Statements of Income
and Fund Balance, pertain to the FDIC in its corporate capacity
only and do not include costs that are charged to
the failed bank receiverships that are managed by the FDIC. The
receivership expenses are presented as part of the "Receivables
from Bank Resolutions, net" line on the Statements of Financial
Position. The narrative and graph presented in the "Corporate
Planning and Budget" section of this report (next page) show
the aggregate (corporate and receivership) expenditures of the FDIC.
3 Includes $210 million
for the cumulative effect of an accounting change for certain postretirement
4 Includes $105.6 million
net loss on government securities.
5 This amount represents
interest and other insurance expenses from 1933 to 1972.
6 Includes the aggregate
amount of $80.6 million of interest paid on capital stock between
1933 and 1948.