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Executive Management Report

FSLIC Resolution Fund
Statements of Income and Accumulated Deficit
September 2003

Dollars in Millions

F R F - F S L I C
(Unaudited) Year-to-Date:

F R F - R T C
(Unaudited) Year-to-Date:

FRF - CONSOLIDATED
(Unaudited) Year-to-Date:

empty cell

2003

2002

2003

2002

2003

2002

Revenue

empty cell empty cell empty cell empty cell empty cell empty cell

Interest on U.S. Treasury obligations

$25

$36

$0

$5

$25

$ 36

Realized gain on investment in securitization-related assets acquired from receiverships

0

0

1 313 1 313

Other revenue

8 2 5 18 13 20

Total Revenue

33 38 6 331 39 369

Expenses and Losses

empty cell empty  cell empty cell empty cell empty cell empty cell

Operating expenses

7 5 13 29 20 34

Provision for losses

(25) (9) (21) (51) (46) (60)

Expenses for goodwill settlements and litigation

(18) 21 0 0 (18) 21

Other expenses

1 1 1 7 2 8

Total Expenses and Losses

(35) 18 (7) (15) (42) 3

Net Income

68 20 13 346 81 366

Unrealized loss on available-for-sale securities, net (current period)

0

0

(1) (233) (1) (233)

Comprehensive Income

68 20 12 113 80 133

Accumulated Deficit - Beginning

(41,282)

(41,373)

(81,691)

(81,827)

(122,973)

(123,200)

Accumulated Deficit - Ending

$ (41,214)

$ (41,353)

$ (81,679)

$ (81,714)

$ (122,893)

$ (123,067)

Accumulated Deficit
Accumulated Deficit

YEAR

FRF - FSLIC

Noncash Assets

98

42.058

83.0

99

41.930

82.7

00

41.738

82.1

01

41.373

81.8

02

41.267

81.7

09/03

41.214

81.7

FRF - Consolidated Accumulated Deficit
Accumulated Deficit

98

125.080

99

124.674

00

123.812

01

123.200

02

122.953

09/03

122.89


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