Income and Expenses, Bank Insurance Fund
Income and Expenses, Bank Insurance Fund,
From Beginning of Operations, September 11, 1933, through December 31, 1998
(Dollars in Millions)
1 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 mininum 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 Includes $210 million for the cumulative effect of accounting change for certain postretirement benefits.
3 Includes $105.6 million net loss on government securities.
4 Includes $80.6 million of interest paid on capital stock between 1933 and 1948.
* For detail of years 1933 through 1972, please refer to the 1996 annual report.