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In order to protect depositors in insured banks, the Federal Deposit Insurance Corporation is authorized to insure such depositors in the maximum amount of $10 thousand; to examine all insured banks not members of the Federal Reserve System and, in certain situations for insurance purposes, to examine national and State chartered banks which are members of the Federal Reserve System; to participate in the regulation of mergers involving insured banks; and to promulgate and enforce rules and regulations relating to the supervision of insured banks, the withdrawal of deposit insurance, and other regulatory and supervisory matters consistent with its responsibility as insurer.
The income of the Corporation is derived principally from insurance assessments paid by insured banks and interest on investments in U.S. Government securities. No funds derived from taxes or Federal appropriations are allocated to or used by the Corporation. There is no capital stock outstanding. The Corporation is authorized to borrow from the United States Treasury and the Secretary of the Treasury is authorized and directed to loan to the Corporation, on such terms as may be fixed by the Corporation and the Secretary, not to exceed $3 billion outstanding when, in the judgment of the Board of Directors of the Corporation, such funds are required for insurance purposes (see schedule in part I of the appendix). No borrowings under this authorization have been made to date and none are anticipated in 1965 or 1966.
The deposit insurance fund, representing the accumulated net income of the Corporation, is reserved for the payment of insured deposits and for the payment of its operating and insurance expenses. The estimates shown for 1965 and 1966 in these statements make no provision for losses or expenses which might be incurred by reason of the closing of any bank after Sept. 30, 1964 (the date on which these reports were prepared) because there is no basis for predicting which, if any, insured banks will close in the future.
Revenue, Expense, and Retained Earnings (in thousands of dollars)
1965 1966 estimate estimate
Chronic diseases and health of..
Aeronautics and Space Administration, National, see National Aeronautics
and Space Administration.
President's Council on..
Disposal for famine relief.
Management Services Office.
Aid, foreign, see Foreign assistance.
Air carriers, payments to..........
Surplus, removal of....
Surplus sale of, for foreign currency.
Census of, 1964.
Operation and maintenance..
Research, development, test, and evaluation.
Aircraft, civil supersonic...
Federal Development Planning Committees for..
Mental health facilities...
Mortgage indemnity grants..
Payment to, from Pribilof Island receipts..
Russian Orthodox Greek Catholic Church records, indexing and micro-
American Printing House for the.
Cache National Forest
Canteen Service, Veterans Administration.
Capital outlay loans, District of Columbia.
Capitol buildings and grounds.
Capitol Power Plant.
Public Health Service, activities for the
Boulder Canyon project.
Bridge projects, by name, Corps of Engineers.
Budget, Bureau of the..
Budget schedules and statements, explanation..
Buildings, grounds, and sites:
Abroad, State Department..
Capitol Power Plant.
House Office Buildings
Library of Congress..
Repair and improvement by General Services Administration.
Buildings management fund, General Services Administration
Business census, 1963.
Business Economics. Office of
Business and Defense Services Administration__
Cemeterial expenses, Army
Business, transportation, manufacturers, and minerals industries..
Channels and harbors projects by name, Corps of Engineers.
Check forgery insurance fund.
Child Health and Human Development, National Institute of
Civil Service Commission Building, remodeling of....
Civil service retirement and disability fund
Civil War Centennial Commission..
Against the U.S. Treasury, general funds.
Federal employees' compensation.
Foreign Claims Settlement Commission...
Indian Claims Commission..
International Claims Settlement Act.
Philippine war damage.
Coal Mine Safety Board of Review, Federal
Coast and Geodetic Survey.
College housing loans fund..
Colleges of agriculture and the mechanic arts.
Commercial Fisheries, Bureau of
Commissioned officers, Public Health Service, retired pay.
Commissioners, fees, U.S. courts.
Community development, Federal-State training programs for
Community facilities, grants.
722-731, 1045, 1190-1191
207-270, 1013-1019, 1105-1114
George Washington University Hospital.
Higher education facilities.
Army National Guard
Agricultural conservation program..
Agricultural Stabilization and Conservation Service. 139–145, 1011, 1099-1100
Water conservation and utilization projects.
Community mental health centers.
111-122, 1009, 1096–1097