Each depositor insured to at least $250,000 per insured bank



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2010 annual report Highlights

III. Financial Statements

Refer to FDIC's website at www.fdic.gov/about/strategic/report/index.html for the complete set of financial statements with accompanying footnotes.

Deposit Insurance Fund (DIF)

Deposit Insurance Fund Balance Sheet at December 31, condensed
Dollars in Thousands
  2010 2009
Assets
Cash and cash equivalents $27,076,606 $54,092,423
Cash and cash investments–restricted–systemic risk
(Includes cash/cash equivalents of $5,030,369 at December 31, 2010 and $6,430,589 at December 31, 2009)
6,646,968 6,430,589
Investment in U.S. Treasury obligations, net 12,371,268 5,486,799
Assessments receivable, net 217,893 280,510
Receivables and other assets–systemic risk 2,269,422 3,298,819
Trust preferred securities 2,297,818 1,961,824
Interest receivable on investments and other assets, net 259,683 220,588
Receivables from resolutions, net 29,532,545 38,408,622
Property and equipment, net 416,065 388,817
Total Assets $81,088,268 $110,568,991
 
Liabilities
Accounts payable and other liabilities $514,287 $273,338
Unearned revenue–prepaid assessments 30,057,033 42,727,101
Liabilities due to resolutions 30,511,877 34,711,726
Deferred revenue–systemic risk 9,054,541 7,847,447
Postretirement benefit liability 165,874 144,952
Contingent liabilities for:    
Anticipated failure of insured institutions 17,687,569 44,014,258
Systemic risk 149,327 1,411,966
Litigation losses 300,000 300,000
Total Liabilities $88,440,508 $131,430,788
Commitments and off-balance-sheet exposure
Fund Balance
Accumulated Net Loss (7,696,428) (21,001,312)
Unrealized Gain on U.S. Treasury investments, net 26,698 142,127
Unrealized postretirement benefit Loss (18,503) (2,612)
Unrealized Gain on trust preferred securities 335,993 0
Total Fund Balance (7,352,240) (20,861,797)
 
Total Liabilities and Fund Balance $81,088,268 $110,568,991


Deposit Insurance Fund Statement of Income and Fund Balance for the Years Ended December 31, condensed
Dollars in Thousands
  2010 2009
Revenue
Interest on U.S. Treasury obligations $204,871 $704,464
Assessments 13,610,436 17,717,374
Systemic risk revenue (672,818) 1,721,626
Realized gain on sale of securities 0 1,389,285
Other revenue 237,425 3,173,611
Total Revenue 13,379,914 24,706,360
 
Expenses and Losses
Operating expenses 1,592,641 1,271,099
Systemic risk expenses (672,818) 1,721,626
Provision for insurance losses (847,843) 57,711,772
Insurance and other expenses 3,050 4,447
Total Expenses and Losses 75,030 60,708,944
 
Net Income (Loss) 13,304,884 (36,002,584)
Unrealized Loss on U.S. Treasury investments, net (115,429) (2,107,925)
Unrealized postretirement benefit Loss (15,891) (27,577)
Unrealized Gain on trust preferred securities 335,993 0
Comprehensive Income (Loss) 13,509,557 (38,138,086)
 
Fund Balance–Beginning (20,861,797) 17,276,289
 
Fund Balance–Ending $(7,352,240) $(20,861,797)


Deposit Insurance Fund Statement of Cash Flows for the Years Ended December 31, condensed
Dollars in Thousands
  2010 2009
Operating Activities
Net Income (Loss): $13,304,884 $(36,002,584)
Adjustments to reconcile net income to net cash (used by)
provided by operating activities:
 
Amortization of U.S. Treasury obligations (5,149) 210,905
Treasury inflation-protected securities inflation adjustment (23,051) 10,837
Gain on sale of U.S. Treasury obligations 0 (1,389,285)
Depreciation on property and equipment 68,790 70,488
Loss on retirement of property and equipment 620 924
Provision for insurance losses (847,843) 57,711,772
Unrealized Loss on postretirement benefits (15,891) (27,577)
Guarantee termination fee from Citigroup 0 (1,961,824)
 
Change In Operating Assets and Liabilities:
Decrease in assessments receivable, net 62,617 737,976
(Increase) Decrease in interest receivable and other assets (34,194) 192,750
(Increase) in receivables from resolutions (16,607,671) (60,229,760)
Decrease (Increase) in receivable–systemic risk 1,029,397 (2,160,688)
Increase in accounts payable and other liabilities 240,949 140,740
Increase in postretirement benefit liability 20,922 30,828
(Decrease) in contingent liabilities–systemic risk (1,262,639) (25,672)
(Decrease) Increase in liabilities due to resolutions (4,199,849) 29,987,265
(Decrease) Increase in unearned revenue–prepaid assessments (12,670,068) 42,727,101
Increase in deferred revenue–systemic risk 1,203,936 5,769,567
Net Cash (Used by) Provided by Operating Activities (19,734,240) 35,793,763
 
Investing Activities Provided by:
Maturity of U.S. Treasury obligations 21,558,000 6,382,027
Sale of U.S. Treasury obligations 0 15,049,873
Investing Activities Used by:
Purchase of property and equipment (96,659) (91,468)
Purchase of U.S. Treasury obligations (30,143,138) 0
Net Cash (Used by) Provided by Investing Activities (8,681,797) 21,340,432
 
Net (Decrease) Increase in Cash and Cash Equivalents (28,416,037) 57,134,195
Cash and Cash Equivalents–Beginning 60,523,012 3,388,817
Unrestricted Cash and Cash Equivalents–Ending 27,076,606 54,092,423
Restricted Cash and Cash Equivalents–Ending 5,030,369 6,430,589
Cash and Cash Equivalents–Ending $32,106,975 $60,523,012

Last Updated 6/6/2011 communications@fdic.gov