|
|
FSLIC
Resolution Fund (FRF) -
First Quarter 2007
| Fund Financial Results |
($ in millions – All data is unaudited) |
| |
03/31/07 |
12/31/06 |
03/31/06 |
Year-Over-Year Change |
Cash and cash equivalents |
$ 3,676 |
$ 3,616 |
$ 3,636 |
$ 40 |
Accumulated
deficit, net |
(123,853) |
(123,834) |
(123,777) |
(76) |
| Resolution
Equity |
3,708 |
3,620 |
3,409 |
299 |
Total
Revenue |
$ 64 |
$ 169 |
$ 37 |
$ 27 |
| Operating expenses |
0 |
12 |
3 |
(3) |
Expenses for Goodwill/Guarini litigation |
103 |
411 |
179 |
(76) |
Net (loss) |
(19) |
(203) |
(146) |
127 |
| FRF
Quarterly Payments for Goodwill & Guarini Settlements |
| |
Goodwill
Cases |
Guarini
Cases |
1st
Quarter 2005
|
382 |
0 |
2nd
Quarter 2005
|
0 |
0 |
|
3rd
Quarter 2005
|
9 |
28 |
4th
Quarter 2005
|
234 |
49 |
1st Quarter 2006 |
179 |
0 |
2nd Quarter
2006 |
0 |
169 |
3rd Quarter 2006 |
16 |
6 |
4th Quarter 2006 |
0 |
0 |
1st Quarter 2007 |
285 |
23 |
| Summary
of Goodwill & Guarini Litigations (Inception-to-Date) |
| Goodwill |
Guarini |
| |
#
of Cases |
Amount
Paid/Accrued |
# of Cases |
Amount
Paid |
Dismissals/Time
Barred
|
43 |
n/a |
0 |
n/a |
|
Settlements
|
18 |
$149 million |
3 |
$121
million |
Judgements
|
38 |
$1,157 million* |
5 |
$153 million |
Pending
|
23 |
n/a |
0 |
n/a |
Totals
|
122 |
$1,306 million |
8 |
$274
million |
*Three
institutions account for 69% of the total Goodwill payments (Glendale
Federal Bank - $382 million, Westfed Holdings, Inc. - $211 million,
LaSalle Talman Bank - $155 million, and Home Savings of America
- $150 million).
|
