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Executive Management Report

Insurance Funds
Bank Insurance Fund (BIF)
Savings Association Insurance Fund (SAIF)

The BIF and SAIF are separate insurance funds responsible for protecting insured depositors in operating banks and thrift institutions from loss due to failure of the institution. Since 1989, an active institution's insurance fund membership and primary federal regulator have been generally determined by the institution's charter type. Deposits of BIF-member institutions are primarily insured by the BIF; BIF members are predominantly commercial and savings banks regulated by the FDIC, the Office of the Comptroller of the Currency, or the Federal Reserve. Deposits of SAIF-member institutions are primarily insured by the SAIF; SAIF members are predominantly thrifts supervised by the Office of Thrift Supervision.

FINANCIAL HIGHLIGHTS
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Dollars in Millions

BIF

(Unaudited)

SAIF

(Unaudited)

09/30/03

09/30/02

09/30/03

09/30/02

Revenue

$1,225

$ 1,347

$ 411

$ 440

Operating Expenses

 586 618 94 92

Insurance Losses/Expenses

(677)

 423

(92)

 (85)

Unrealized Gain on AFS (1) Securities, Net (Current Period)

 96 638 30 218

Comprehensive Income

 1,412 944 439 651

Fund Balance

$ 33,462

$ 31,383

$ 12,186

$ 11,586
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Number of Failures, YTD

 2 8 0 1
 

Total Corporate Outlays, YTD

$880

$1,998

$0

$35
 

Total Estimated Corporate Losses, YTD

$100

$623

$0

$1
 

Total Assets at Failure (Current Year)

$1,088

$2,415

$0

$50
 

Assets in Liquidation (2)

$444

$991

$381

$421
           
    06/30/03 06/30/02 06/30/03 06/30/02

June 2003/2002 Reserve Ratio (3)

1.29%

1.25%

1.38%

1.38%

June 2003/2002 Fund Balance

$32,800

$31,187

$12,083

$11,323

Estimated Insured Deposits

$2,539,994 (a)

$2,490,954 (a)

$875,857 (a)

$818,806 (a)

Total Insured Institutions

8,080 (a)

8,226 (a)

1,202 (a)

1,256 (a)

 

(1) Available-for-Sale (AFS)

(2) Assets in liquidation is the total book value of the noncash assets to be liquidated.

(3) The Reserve Ratio is equal to second quarter Fund Balance divided by the second quarter Estimated Insured Deposits. The statutorily established Designated Reserve Ratio is 1.25%.

(a) Source: Second Quarter 2003 FDIC Quarterly Banking Profile. BIF figures includes 15 and 18 U.S. branches of foreign banks for 2003 and 2002, respectively.

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