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

Deposit Insurance Fund Portfolio Summary - Second Quarter 2019

**Deposit Insurance Fund Portfolio Summary**
**($ values in Millions)**
	06/30/19	12/31/18	Change
Par Value	$103,079	$99,339	$3,740
Amortized Cost	$102,903	$99,063	$3,840
Total Market Value (including accrued interest)	$103,961	$98,954	$5,007
Primary Reserve1	$103,961	$98,954	$5,007
Primary Reserve % of Total Portfolio	100.0%	100.0%	0.0%
Yield-to-Maturity2	2.12%	2.05%	0.07%
Weighted Average Maturity (in years)	1.34	1.75	-0.41
Total Portfolio	1.30	1.69	-0.39
Available-for-Sale Securities	1.44	1.79	-0.35
Held-to-Maturity Securities3	not applicable	not applicable	not applicable

**National Liquidation Fund (NLF) Investment Portfolio Summary**
**($ values in Millions)**
	06/30/19	12/31/18	Change
Book Value5	$2,601	$2,988	($387)
Effective Annual Yield	2.44%	2.46%	-0.02%
Weighted Average Maturity (in days)	40	51	(11)

1
Primary Reserve is the total market value (including accrued interest) of overnight investments, all available-for-sale securities, and held-to-maturity (HTM) securities maturing within three months.
2
The Yield-to-Maturity includes the potential yield of Treasury Inflation-Protected Securities (TIPS), which assumes an average 2.0% annual increase in the CPI over the remaining life of each TIPS.
3
In early August 2008, management reclassified all of the DIF portfolio's HTM securities as AFS securities effective as of June 30, 2008, because the FDIC could no longer assert it had the positive intent and ability to hold its HTM securities until their maturity dates.
4
Due to the current short-term nature of this portfolio, its respective Par, Book, and Market Values are identical for reporting purposes.
5
Due to the short-term nature of NLF portfolio, it's Book and Market Values are identical for reporting purposes.