WASHINGTON — The Federal Deposit Insurance Corp. on Tuesday said the Bank Insurance Fund’s comprehensive income — net income plus unrealized gains or losses on securities available for sale — was $1.56 billion last year, a dramatic turnaround from a $198 million loss in 1999.

The agency attributed the nearly $1.76 billion swing to two factors: reduced expectations of bank failure costs and unrealized securities gains. In 2000 the bank fund lowered its reserves to cover the cost of failures by $153 million, a dramatic change from the $1.17 billion boost to reserves made in 1999. For 2000 the agency slashed by 54%, to $141 million, its contingent liabilities for anticipated bank failures.

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