Chief Financial Officer's (CFO) Report to the Board
| Fund Financial Results | ($ in millions) |
| FSLIC Resolution Fund | |||||
Sep-20 |
Jun -19 |
Quarterly Change |
Sep -19 |
Year-Over-Year Change |
|
|---|---|---|---|---|---|
| Cash and cash equivalents | $907 | $926 | ($19) | $918 | ($11) |
| Accumulated deficit | (124,562) | (124,563) | 1 | (124,570) | 8 |
| Total resolution equity | 907 | 907 | 0 | 919 | (12) |
| Total revenue | 4 | 3 | 1 | 17 | (13) |
| Operating expenses | 0 | 0 | 0 | 0 | 0 |
| Recovery of tax benefits | 0 | 0 | 0 | 0 | 0 |
| Losses related to thrift resolutions | 0 | 0 | 0 | 0 | 0 |
| Net Income (Loss) | $4 | $3 | $1 | $17 | ($13) |
| Receivership Selected Statistics September 2020 vs. September 2019 |
| $ in millions | DIF |
FRF |
ALL FUNDS |
||||||
|---|---|---|---|---|---|---|---|---|---|
| Sep-20 | Sep-19 | Change | Sep-20 | Sep-19 | Change | Sep-20 | Sep-19 | Change | |
| Total Receiverships | 238 | 252 | (14) | 0 | 0 | 0 | 238 | 252 | (14) |
| Assets in Liquidation | $370 | $575 | ($205) | $0 | $2 | ($2) | $370 | $577 | ($207) |
| YTD Collections | $338 | $1,113 | ($775) | $1 | $2 | ($1) | $339 | $1,115 | ($776) |
| YTD Dividend/Other Pmts - Cash | $1,301 | $1,374 | ($73) | $0 | $0 | $0 | $1,301 | $1,374 | ($73) |
Unwinding of Unrealized Gain on U.S. Treasury Securities as of 9/30/2020 ($ in Thousands) |
|
| Unrealized Gain on U.S. Treasury Securities | |
|---|---|
| 4Q20 | $18,689 |
| 2021 | $449,717 |
| 2022 | $636,061 |
| 2023 | $265,816 |
The total unrealized gains have decreased since the end of the first quarter of 2020, as the second and third quarters saw an aggregate of approximately $31.9BN in par value mature. Proceeds were subsequently reinvested at much lower yields. With $20.0BN of par value expected to mature in the first quarter of 2021, those unrealized gains have seen significant reduction as they approach maturity.