BIF and SAIF report increased earnings
Northwestern Financial Review, Jun 1-Jun 14, 2003
The Bank Insurance Fund reported income of $332 million for the three months ending March 31, 2003, compared to $258 million for the same period last year, the FDIC said. As of March 31, 2003, the fund balance was $32.4 billion, up from $32.1 billion at year-end 2002. The Savings Association Insurance Fund reported income of $159 million compared to $114 million for the same period last year.
The increase was primarily due to lower estimated losses for future failures and higher unrealized gains on AFS securities. As of March 31, 2003, the fund balance was $11.9 billion, up from $11.7 billion at year-end 2002.
Copyright NFR Communications Inc Jun 1-Jun 14, 2003
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