FDIC estimated bank losses in 2008 half of actual

FDIC press releases cost to FDIC estimates are less than half the actual costs to the FDIC.

Here's 2008

[atsimg]http://files.abovetopsecret.com/images/member/8dce5d6158e9.jpg[/atsimg]

Here's 2009

[atsimg]http://files.abovetopsecret.com/images/member/f986a1ac41f1.jpg[/atsimg]

Actual loss numbers are from their annual report Key Statistics Appendix. www.fdic.gov...

I put into a spreadsheet the costs of this years' and last years' bank failures to estimate where this years' FDIC funds are (Balance in March was $13B). The FDIC does have a credit line of $500B tapped into our future paychecks generously granted by our Congressfolk. (online.wsj.com...)

The estimate numbers are from FDIC Failed Bank Information pages
(example: Guaranty Bank)
www.fdic.gov...
and the associated press release
www.fdic.gov...
Which has a statement like "The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $3 billion." Actual total losses will probably be about 2.3 times their estimate on average.

If the FDIC started this year with $17B in funds, and the actuals may be $51B 2009 to date, then the FDIC is in the red by $34B.

[edit on 26-8-2009 by Dbriefed]

Whoops.

Second line, second line, I wrote a second line so I should be fine.