|(In billions of dollars)||
|Insurance and Guarantee Program Liabilities:|
|Pension Benefit Guaranty Corporation—Benefit Pension Plans||90.0||83.1|
|Federal Deposit Insurance Corporation Funds||72.6||70.5|
|All other insurance and guarantee programs||13.0||12.6|
|Total insurance and guarantee program liabilities||175.6||166.2|
PBGC insures pension benefits for participants in covered defined benefit pension plans. As a wholly-owned corporation of the U.S. Government, PBGCís financial activity and balances are included in the consolidated financial statements of the U.S. Government. However, under current law, PBGCís liabilities may be paid only from PBGCís assets and not from the General Fund of the Treasury or assets of the Government in general. As of September 30, 2010, and 2009, PBGC had total liabilities of $102.5 billion and $92.1 billion, and its total liabilities exceeded its total assets by $23.0 billion and $21.9 billion, respectively. In addition, as discussed in Note 22óContingencies, PBGC reported reasonably possible contingent losses of about $190 billion and $168.2 billion as of September 30, 2010, and 2009, respectively.
Of the total FDIC amount as of September 30, 2010, and 2009, $21.3 billion and $38.9 billion, respectively, represents the recorded contingent liability and loss provision for institutions insured by the Deposit Insurance Fund that are likely to fail. In addition, $42.8 billion and $20.1 billion pertain to liabilities due to resolutions of failed or failing institutions and to pending depositor claims as of September 30, 2010, and 2009 respectively. Another $7.9 billion and $10.3 billion as of September 30, 2010, and 2009 respectively, pertains to the Temporary Liquidity Guarantee Program, which guarantees certain newly issued debt and certain noninterest-bearing transaction accounts in an effort to counter the system-wide crisis in the nationís financial sector. The remaining amounts represent contingent liabilities for litigation. As of September 30, 2010, the Deposit Insurance Fund had total liabilities of $107.4 billion, and its total liabilities exceeded its total assets by $8.0 billion.
Of the $13.0 billion and $12.6 billion under all other insurance and guarantee programs as of September 30, 2010, and 2009, respectively, $4.6 billion and $5.9 billion pertains to the USDAís Federal Crop Insurance Program. The Federal Crop Insurance Program is administered by the Federal Crop Insurance Corporation, whose mission is to provide an actuarially sound risk management program to reduce agricultural producersí economic losses due to natural disasters. Also, $6.4 billion and $5.3 billion represent National Credit Union Administrationís Temporary Corporate Credit Union Stabilization Fund as of September 30, 2010, and 2009, respectively. This Program guarantees the timely payment of principal and interest on certain unsecured debt of participating credit unions.