# Presentation: 672181

## Dennis C. Winans
National Credit Union Administration
Office of the Chief Financial Officer

**National Credit Union Administration**
**Office of the Chief Financial Officer**

- NCUSIF Year-end StatisticsDecember 31, 2005

## GROSS INCOMEDecember 04 – December 05

**GROSS INCOME****December 04 – December 05**

**    ****|  04  |                                                        05                                                          |**

## GROSS INCOMEFY 96 – FY 05

**GROSS INCOME****FY 96 – FY 05**

## OPERATING EXPENSESDecember 04 – December 05

**OPERATING EXPENSES****December 04 – December 05**

**    ****|   04  |                                                         05                                                        | **

## OPERATING EXPENSESFY 96 – FY 05

**OPERATING EXPENSES****FY 96 – FY 05**

## INSURANCE LOSS EXPENSEDecember 04 – December 05

**INSURANCE LOSS EXPENSE****December 04 – December 05**

** ****|  04  |                                                            05                                                       |**

## INSURANCE LOSS EXPENSE  FY 96 - FY 05

**Insurance Loss Expense (Millions)**

**Losses Per $1,000**

**Notes:**
Relationship of Insurance Loss expense to loss per $1,000 of insured shares - 
 In 2003, total insurance loss expense was $38 million, which equaled 8 cents per $1000 of insured shares.  Back in 1991, total insurance loss expense was $163 million or 83 cents per $1000 of insured shares.
(Blue is amount of losses, yellow is losses per $1000.)
No losses from 1995 – 2001, however, we did have CU failures whose cost were charged against the existing reserve balance.

## Net IncomeFY 96 – FY 05

**Net Income****FY 96 – FY 05**

## REVENUE AND EXPENSEDecember 31, 2005

## TREASURY YIELD CURVE

**4 WEEKS AGO**

**DECEMBER 31, 2005**

**ONE YEAR  AGO**

**Percent**

## YIELD COMPARISONS

**DECEMBER 31, 2005**

**4.56%**

**3.27%**

**  ****4.09%**

**Percent**

## MATURITY SCHEDULEDecember 31, 2005

## NCUSIF EQUITY RATIOFY 96 – FY 05

**NCUSIF EQUITY RATIO****FY 96 – FY 05**

-        **Actual**
**         ****Projected**

**Notes:**

This graph compares the Fund’s equity ratio over past 11 years.  1995 – 2000 - years of low share growth /no insurance losses – paid dividends.

## NCUSIF EQUITY RATIOProjected FY 06

**NCUSIF EQUITY RATIO****Projected FY 06**

**Notes:**
Projections for 2004 – Includes modest share growth at 7.5% & $15 million in insurance loss expense.
Of course this projection is subject to many variables, such as insured share growth, insurance loss expense, and the outlook for code 4&5 credit unions.  I’ll be monitoring the equity ratio status closely during 2004, and if it is projected to be below 1.25% at year-end, various options will be to be considered, one of which is an insurance premium assessment to bring it back to 1.3%.
Since we don’t have the actual amount of insured shares for 2003 and because of the many variables, it is too early now to make a determination now on any premium action for 2004.

## Share Growth to Insured Shares and Deposits

**Insured Shares (Billions)**

**Percent Change**

## Number of Problem Credit Unions CAMEL Code 4/5 Credit UnionsFY 96 – FY 05

**Number of Problem Credit Unions ****CAMEL Code 4/5 Credit Unions****FY 96 – FY 05**

## Percent of CAMEL Code 4/5Shares to Total Insured SharesFY 96 – FY 05

**Percent of CAMEL Code 4/5****Shares to Total Insured Shares****FY 96 – FY 05**

**Actual**
**Projected**

## Number of Credit Union FailuresFY 96 – FY 05

**Number of Credit Union Failures****FY 96 – FY 05**

## Slide 19