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8

The DIF’s comprehensive income totaled $5.2 billion for 2021 compared to comprehensive income of $7.5 billion during 2020. 

The year-over-year decrease in comprehensive income of $2.3 billion was primarily driven by a decrease in interest and market 

value adjustments on U.S. Treasury securities of $2.4 billion.
9

Interest income, and 

subsequently the 

Coverage Ratio, 

continued to trend down 

for 2021, as 

reinvestments for 

maturing securities 

continued at lower rates 

than the initial security 

purchases. The Federal 

Reserve is poised to 

raise rates in 2022, 

which should quickly 

bump the interest earned 

in the overnights; 

however, given the 

longer duration of the 

securities portfolio, the 

Coverage Ratio will be 

slower to recover.
10

12/31/21 12/31/20 Change

Par Value $117,716 $110,403 $7,313

Amortized Cost $120,242 $112,698 $7,544

Total Market Value (including accrued interest) $120,797 $114,910 $5,887

Primary Reserve 1 2 $120,797 $114,910 $5,887

Primary Reserve % of Total Portfolio 100.0% 100.0% 0.0%

Yield-to-Maturity 0.633% 1.113% -0.480%

Weighted Average Maturity (in years) 1.24 1.19 0.05

Effective Duration (in years)

 Total Portfolio 1.22 1.16 0.06

 Available-for-Sale Securities 31.28 1.20 0.08

3

 Excludes any overnight investments.

12/31/21 12/31/20 Change

FRF-FSLIC

 Book Value 4 $882 $882 $0

 Yield-to-Maturity 0.06% 0.06% 0.00%

 Weighted Average Maturity overnight overnight no change

12/31/21 12/31/20 Change

Book Value 5 $1,409 $1,761 ($352)

Effective Annual Yield 0.06% 0.14% -0.08%

Weighted Average Maturity (in days) 1 1 0

5

 Due to the short-term nature of the NLF portfolio, its Book and Market Values are identical for reporting purposes.

Summary of Other Corporate Investment Portfolios

(Dollar Values in Millions)

4

 Due to the current short-term nature of this portfolio, its respective Par, Book, and Market Values are identical for reporting purposes.

Deposit Insurance Fund Portfolio Summary

(Dollar Values in Millions)

1

 Primary Reserve is the total market value (including accrued interest) of overnight investments, all available-for-sale securities, and 

held-to-maturity securities maturing within three months.

National Liquidation Fund (NLF) Investment Portfolio Summary

(Dollar Values in Millions)

2

 The Primary Reserve balance reflects $1.536 billion held in FDIC’s Primary Cash Account (PCA). The high PCA account balance 

was a result of maturities and coupons received on 12/31/21 that remained uninvested for the three day holiday weekend. 
11

DEPOSIT INSURANCE FUND

Invest up to $22 billion (par value) in AFS securities with maturities between March 31, 

2022 and October 1, 2026. 

Invest up to $16 billion (par value) in AFS securities with maturities between June 30, 

2022 and January 1, 2027. 

NATIONAL LIQUIDATION FUND

Maintain an overnight deposit target floor balance within a range of $10 million to $500 

million (if required as contingency funding for the DIF).

Strategically invest the remaining funds in the zero- to 12-month maturity sector.

Maintain an overnight deposit target floor balance within a range of $10 million to $100 

million.

Strategically invest the remaining funds in the zero- to 12-month maturity sector.

Investment Strategies

Strategy Changes for the 1st Quarter 2022

Strategy for the 4th Quarter 2021

Strategy for the 4th Quarter 2021

Strategy Changes for the 1st Quarter 2022
12

Annual YTD YTD % of YTD YTD

Major Expense Category Budget Budget Expenditures Budget Used Variance

FDIC Operating Budget 

Ongoing Operations

Salaries & Compensation $1,355,812 $1,355,812 $1,280,095 94% ($75,717)

Outside Services - Personnel 376,501 376,501 273,773 73% (102,728)

Travel 61,552 61,552 8,832 14% (52,720)

Buildings 111,715 111,715 89,198 80% (22,517)

Equipment 120,761 120,761 110,663 92% (10,098)

Outside Services - Other 17,687 17,687 16,585 94% (1,102)

Other Expenses 14,607 14,607 8,203 56% (6,404)

 Total Ongoing Operations $2,058,635 $2,058,635 $1,787,349 87% (271,286)

Receivership Funding

Salaries & Compensation $1,008 $1,008 ($11) (1%) ($1,019)

Outside Services - Personnel 168,589 168,589 36,318 22% (132,271)

Travel 793 793 11 1% (782)

Buildings 2,129 2,129 1,919 90% (210)

Equipment 1,274 1,274 1,586 124% 312

Outside Services - Other 179 179 94 53% (85)

Other Expenses 1,028 1,028 978 95% (50)

 Total Receivership Funding $175,000 $175,000 $40,895 23% ($134,105)

Office of Inspector General

Salaries & Compensation $36,603 $36,603 $35,806 98% ($797)

Outside Services - Personnel 3,858 3,858 1,229 32% (2,629)

Travel 1,235 1,235 708 57% (527)

Buildings 0 0 0 0

Equipment 2,370 2,370 2,211 93% (159)

Outside Services - Other 1 1 0 0% (1)

Other Expenses 846 846 482 57% (364)

 Total Office of Inspector General $44,913 $44,913 $40,436 90% ($4,477)

Total FDIC Operating Budget $2,278,548 $2,278,548 $1,868,680 82% ($409,868)

Executive Summary of 2021 Budget and Expenditures

by Budget Component and Major Expense Category

Through December 31, 2021

(Dollars in Thousands)
13

1) Executive Support includes the Offices of Minority and Women Inclusion, Communications, Ombudsman, Legislative Affairs, Financial 

Institution Adjudication, and Risk Management and Internal Controls as well as the FDIC Tech Lab. 

2) Executive Offices include the offices of the Chairman, Vice Chairman, Independent Director, Deputy to the Chairman and Chief 

Operating Officer, Deputy to the Chairman and Chief Financial Officer, Deputy to the Chairman for Policy, Deputy to the Chairman for 

External Affairs, Deputy to the Chairman for Financial Stability, Deputy to the Chairman for Consumer Protection and Innovation, and 

Chief Information Officer/Chief Privacy Officer.

3) The Corporate Unassigned contingency reserve includes $140 million in funds budgeted to ensure that the FDIC is prepared to 

respond quickly to potential pandemic-related problems within the banking industry. Those funds are not available for use for any other 

purpose.

Annual YTD YTD % of YTD YTD

Division/Office Budget Budget Expenditures Budget Used Variance

 FDIC Operating Budget 

 Risk Management Supervision $ 581,169 $ 581,169 $ 517,603 89% $ (63,566)

 Information Technology 364,609 364,609 346,482 95% (18,127)

 Administration 302,115 302,115 254,308 84% (47,807)

 Depositor & Consumer Protection 185,250 185,250 168,224 91% (17,026)

 Legal 163,986 163,986 146,224 89% (17,762)

 Resolutions & Receiverships 133,065 133,065 115,815 87% (17,250)

 Complex Institution Supervision & Resolution 101,686 101,686 84,265 83% (17,421)

 Insurance & Research 63,791 63,791 56,130 88% (7,661)

 Inspector General 44,913 44,913 40,436 90% (4,477)

 Chief Information Security Officer 41,077 41,077 37,197 91% (3,880)

 Executive Support 1

 51,891 51,891 35,374 68% (16,517)

 Finance 37,961 37,961 34,285 90% (3,676)

 Corporate University - Corporate 23,094 23,094 21,104 91% (1,990)

 Executive Offices 2

 14,447 14,447 11,233 78% (3,214)

 Corporate Unassigned 3

 169,494 169,494 0 0% (169,494)

 Total FDIC Operating Budget $2,278,548 $2,278,548 $1,868,680 82% ($409,868)

Executive Summary of 2021 Budget and Expenditures

by Division/Office

Through December 31, 2021

(Dollars in Thousands)