-
Rendell L. Jones, CFO
Office of the Chief Financial Officer
NCUSIF Financial Statistics
For the Quarter Ended
December 31, 2017
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Outline
National Credit Union Share Insurance Fund (NCUSIF)
Annual Financial Statements Located at:
https://www.ncua.gov/About/Pages/inspector‐general/audit‐reports.aspx
NCUSIF Fourth Quarter 2017 Statistics 2
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NCUSIF Revenue and Expense
December 31, 2017
NCUSIF Fourth Quarter 2017 Statistics 3
Quarter Ended ‐Year to Date (in Millions) December 31, 2017
December 31, 2017
Gross Income:
Investment Income $59.1 $209.3
Interest Revenue – Other 480.0 480.0Guarantee Fee Revenue 5.1
5.1
Other Income 1.4 1.8
Total Income $545.6 $696.2
Less Expenses:
Operating Expenses $54.0 $199.0
Provision for Insurance Losses:
Reserve Expense 657.8 747.8
NPCU AME Loss Expense (Reduction) (3.1) (20.3)
Corporate AME Loss Expense (Reduction) (1.2) (1.2)
Total Expenses
Net Income (Loss)
$707.5 $925.3
($161.9) ($229.1)
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NCUSIF Summary Balance Sheets
December 31, 2017
(In Millions) December 31, 2017 December 31, 2016
Assets
Fund Balance with Treasury and Investments $16,109.7
$12,729.1
Notes Receivable, Net 7.7 9.0
Receivable from NPCU Asset Management Estates, Net 8.9 58.4
Receivable from Corporate Asset Management Estates, Net 486.1
‐
Accrued Interest and Other Assets 59.4 73.2
Total Assets $16,671.8 $12,869.7
Liabilities and Net Position
Accounts Payable and Other Liabilities $ 9.6 $ 6.3
Insurance and Guarantee Program Liabilities 925.5 196.6
Net Position – Capital Deposits 10,765.3 9,987.4
Net Position – Cumulative Results of Operations 4,971.4
2,679.4
Total Liabilities and Net Position $16,671.8 $12,869.7
NCUSIF Fourth Quarter 2017 Statistics 4
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PRELIMINARY & UNAUDITED Quarter Ended Year‐To‐Date
(In Millions) December 31, 2017 December 31, 2017
Beginning Reserve Balance: $286.0 $196.6
Reserve Expense 657.8 747.8
Charges for Assisted Mergers (0.5) (0.5)
Charges for Liquidations (17.8) (18.4)
Ending Reserve Balance $925.5 $925.5
NCUSIF Fourth Quarter 2017 Statistics 5
NCUSIF ‐ Insurance and Program Guarantee Liabilities
December 31, 2017
* This table shows only NPCU Insurance and Program Guarantee
Liabilities.
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NCUSIF Portfolio
December 31, 2017
NCUSIF Fourth Quarter 2017 Statistics 6
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1.50%
1.45%
1.40%
1.46%
1.39%
1.35%
1.30%
1.25%
1.30% 1.30% 1.29%
1.30%
1.26% 1.27% 1.26% 1.26%
1.25%
1.20%
1.15%
1.10%
1.05%
1.00% Dec‐12 Dec‐13 Dec‐14 Dec‐15 Dec‐16 Mar‐17 Jun‐17 Sep‐17
Dec‐17
NCUSIF Equity Ratio
CY 2012 – CY 2017
NCUSIF Fourth Quarter 2017 Statistics 7
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450 2.5%
400
350
300
250
200
369
2.02%
1.40%
307
1.13%
276
220
196 197
210 204
196
2.0%
1.5%
1.0%
150 0.80% 0.83%
0.83% 0.88% 0.84% 0.80%
100
0.5%
50
0
Dec‐12 Dec‐13 Dec‐14 Dec‐15 Dec‐16 Mar‐17 Jun‐17 Sep‐17
Dec‐17
0.0%
Nu
mb
er
of
CA
MEL
4/5
CU
s
% t
o T
ota
l In
sure
d S
har
es
CAMEL Code 4/5 CUs with Percent to Total Insured Shares
CY 2012 – CY 2017
NCUSIF Fourth Quarter 2017 Statistics 8
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50
Credit Union Size By Total Assets
> $1B 11
$1.5 $1.5
0M to $1B 3 3
$100M to $500M 17
20
$10M to 75 $100M
$1.6 $1.5
$2.4
$2.9 $3.0
Dec‐17
Sep‐17
80 $2.7
-
2,000
1,500
1,000
12.62%
1,571
11.19%
1,480
9.44%
1,411
8.25%
1,261
1,123 1,102 1,088 1,086 1,072
7.67%
14.0%
12.0%
10.0%
8.0%
6.0%
500
4.65% 4.43% 4.53% 4.54%
4.0%
2.0%
0
Dec‐12 Dec‐13 Dec‐14 Dec‐15 Dec‐16 Mar‐17 Jun‐17 Sep‐17
Dec‐17
0.0%
Nu
mb
er
of
CA
MEL
3 C
Us
% t
o T
ota
l In
sure
d S
har
es
CAMEL Code 3 CUs with Percent to Total Insured Shares
CY 2012 – CY 2017
NCUSIF Fourth Quarter 2017 Statistics 10
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Credit Union Size By Total Assets
> $1B 5 3
$7.4 $5.5
$500M to $1B 13
15
$7.8 $9.4
Dec‐17
$100M to $500M
100
97
$17.8
$17.0
Sep‐17
$10M to $100M
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NCUSIF Fourth Quarter 2017 Statistics 12
1.8% 1.3% 1.0% 0.7% 0.8% 0.7% 0.8% 0.8% 0.7%
8.6%
7.6% 6.9%
4.2% 4.0% 4.1% 4.1%
11.4% 10.3%
86.8%
88.4%
90.4%
91.7% 92.3%
95.1% 95.2% 95.1% 95.2%
Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Mar-17 Jun-17 Sep-17
Dec-17
CAMEL 1-2 CAMEL 3 CAMEL 4-5
Distribution of Assets in CAMEL Codes
CY 2012 – CY 2017
-
30
22 20
17 16
15 14
10 10
0 2012 2013 2014 2015 2016 2017
Number of Credit Union Failures
CY 2012 – CY 2017
NCUSIF Fourth Quarter 2017 Statistics 13
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Office Contact Page
Feel free to contact our office with questions or comments.
NCUSIF Fourth Quarter 2017 Statistics 14
Primary Staff: Rendell L. Jones, CFO
[email protected]
Office Phone: 703‐518‐6570
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APPENDICES
NCUSIF Fourth Quarter 2017 Statistics 15
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3.5%
3.0%
Current Quarter End
Previous Quarter End
One Year Ago
2.5% 2.0%
1.5%
1.0%
0.5%
0.0%
0 5 10 15 20 25 30
Appendix I ‐ Treasury Yield Curve
December 31, 2017
NCUSIF Fourth Quarter 2017 Statistics 16
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3.0%
2.5%
2.0%
1.5%
2.40%
1.59%
1.39%
1.0%
0.5%
0.0%
Dec‐15 Mar‐16 Jun‐16 Sep‐16 Dec‐16 Mar‐17 Jun‐17 Sep‐17
Dec‐17
10 Year Bond NCUSIF Yield 90 Day T‐Bill
NCUSIF Fourth Quarter 2017 Statistics 17
Appendix II ‐ Yield Comparisons
December 31, 2017
OutlineNational Credit Union Share Insurance FundAnnual
Financial Statements Located at:CY 2012 – CY 2017
CAMEL Code 4/5 ComparisonSeptember 30, 2017 to December 31,
2017Total Shares in Billions
CY 2012 – CY 2017Total Shares in Billions
Appendix I ‐ Treasury Yield CurveDecember 31, 2017
