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Chief Financial Officer's (CFO) Report to the Board

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Selected Financial Data - Fourth Quarter 2008

Fund Financial Results ($ in millions)
FSLIC Resolution Fund
 
Unaudited
Dec
-08
Sep-08
Quarterly Change
Dec-07
Year-Over-Year Change
Cash and cash equivalents $3,467 $3,459 $8 $3,617 ($150)
Accumulated deficit, net (123,948) (123,885) (63) (123,770) (178)
Resolution equity 3,494 3,470 24 3,648 (154)
Total revenue $63 $60 $3 $188 ($125)
Operating expenses 3 4 (1) 3 0
Goodwill/Guarini litigation expenses 254 167 87 196 58
Net (Loss)/Income ($178) ($115) ($63) $64 ($242)

Receivership Selected Statistics December 2008 vs. December 2007
 
DIF
FRF
ALL FUNDS
Year-to-Date ($ in millions) Dec-08 Dec-07 Change Dec-08 Dec-07 Change Dec-08 Dec-07 Change
Total Receiverships 41 22 19 8 13 (5) 49 35 14
Assets in Liquidation $15,073 $875 14,198 $34 $32 2 $15,507 $907 14,200
Collections $1,858 $1,207 651 $7 $39 (32) $1,865 $1,246 619
Dividends Paid $1,553 $1,647 (94) $4 $5 (1) $1,557 $1,652 (95)

2008 Bank Failures by State, Number of Banks and Total Assets
Total number of bank failures for 2008 was 25.

The combined total assets for all bank failures was $361 billion.

The combined total estimated losses was $18 billion.

The majority of the assets that were retained are concentrated in commercial loans ($2.8 billion), commercial real estate ($6.2 billion), and residential loans ($2.6 billion).

2008 Bank Failures by State, Number of Banks and Total Assets (in millions)
State
Number of Banks
Total Assets
AR.
1
$2,011
CA.
5
$45,716
FL.
2
$517
GA.
5
$2,854
IL.
1
$37
KS.
1
$726
MI.
1
$102
MN.
1
$53
MO.
2
$70
TX.
2
$4,979
NV.
3
$304,171
WV.
1
$100


Last Updated 09/16/2011 dofbusinesscenter@fdic.gov

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