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GAO-21-284R 1 (2021-02-18)

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                    Ioo_       U.S.   GOVERNMENT ACCOUNTABILITY OFFICE
                    G  A O       A  Century of Non-Partisan Fact-Based Work
441 G St. N.W.
Washington, DC 20548



February 18, 2021


The Honorable Sherrod Brown
Chairman
The Honorable Patrick J. Toomey
Ranking Member
Committee on Banking, Housing, and Urban Affairs
United States Senate

The Honorable Maxine Waters
Chairwoman
The Honorable Patrick T. McHenry
Ranking Member
Committee on Financial Services
House of Representatives

Financial Audit: Federal Deposit Insurance Corporation Funds' 2020 and 2019 Financial
Statements

This report transmits the GAO auditor's report on the results of our audits of the 2020 and 2019
financial statements of the two funds that the Federal Deposit Insurance Corporation (FDIC)
administers-the Deposit Insurance Fund (DIF) and the Federal Savings and Loan Insurance
Corporation (FSLIC) Resolution Fund (FRF). The auditor's report is incorporated in the enclosed
Federal Deposit Insurance Corporation 2020 Annual Report.

As discussed more fully in the auditor's report that begins on page 117 of the enclosed agency
annual report, we found

  the financial statements of the DIF and of the FRF as of and for the years ended
   December  31, 2020, and 2019, are presented fairly, in all material respects, in accordance
   with U.S. generally accepted accounting principles;
  although internal controls could be improved, FDIC maintained, in all material respects,
   effective internal control over financial reporting relevant to the DIF and to the FRF as of
   December  31, 2020; and
  with respect to the DIF and to the FRF, no reportable instances of noncompliance for 2020
   with provisions of applicable laws, regulations, contracts, and grant agreements we tested.


GAO-21-284R FDIC Funds' 2020 and 2019 Financial Statements


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