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FDIC Funds

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During the first half of 2004, FDIC-insured deposits grew: Deposits insured by the Bank Insurance Fund (BIF) grew at an annualized rate of 4.14% and those insured by the Savings Association Insurance Fund (SAIF) at 6.63%. As of June 30, the FDIC insured over $2,607 billion of BIF members’ deposits and over $926 billion of SAIF members’. Despite moderately robust growth in insured deposits, BIF reserves at midyear held steady at 1.32% of insured deposits, and SAIF reserves matched their year-end 2003 level of 1.36%. Although both funds remain below the peak reserve-to-deposit ratios posted at the end of the 1990s, they continue to exceed the 1.25% target set by Congress in the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.

Suggested citation: "FDIC Funds," Federal Reserve Bank of Cleveland, Economic Trends, no. 04-11, pp. 17, 11.01.2004.

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