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Financial Analysis Report

FSLIC Resolution Fund
 Condensed Financial Statements
December 2003

Dollars in Millions

December 31

2003

2002

Operating Results

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Total Revenue

$ 51

$ 433
Operating expenses 28 46
Provision for losses (58) (149)
Expenses for goodwill settlements and litigation 15 40
Comprehensive Income

$ 51

$ 227
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Financial Condition

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Cash and cash equivalents

$ 3,279

$ 3,.618
Receivables from thrift resolutions 94 131
Investment in Securitization-Related Assets 90 98
Accumulated Deficit, net (122,921) (122,973)
Resolution Equity

$ 3,456

$ 3,855
Assets in Liquidation - main source of repayment of receivable from thrift resolutions (See table below)

  Assets in Liquidation (FRF)

Net investments in subsidiaries 24 19%
Loans to subsidiaries 26 21%
Securities 72 58%
Other 3 2%
 

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Last Updated 02/19/2004 finance@fdic.gov


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