301 Moved Permanently
301 Moved Permanently
openresty
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Selected
Financial Data - Third Quarter
2013
| Fund Financial Results |
($
in millions) |
| FSLIC
Resolution Fund |
| |
|
Unaudited Jun-13 |
Quarterly Change |
Unaudited Sep-12 |
Year-Over-Year Change |
Cash and cash equivalents |
$871 |
$3,596 |
(2,725) |
$3,594 |
($2,723) |
| Accumulated deficit |
(124,459) |
(124,459) |
- |
(124,460) |
1 |
| Total resolution equity |
874 |
3,598 |
(2,724) |
3,596 |
(2,722) |
|
Total revenue |
2 |
2 |
- |
4 |
(2) |
| Operating expenses |
1 |
1 |
- |
4 |
(3) |
| Goodwill litigation expenses |
1 |
1 |
- |
181 |
(180) |
| Recovery of tax benefits |
- |
- |
- |
- |
- |
| Net Income (Loss) |
$1 |
$1 |
$- |
($180) |
$181 |
| Receivership
Selected Statistics September 2013 vs. September 2012 |
| $ in millions |
DIF |
FRF |
ALL FUNDS |
| |
Sep-13 |
Sep-12 |
Change |
Sep-13 |
Sep-12 |
Change |
Sep-13 |
Sep-12 |
Change |
Total Receiverships |
482 |
462 |
20 |
2 |
4 |
(2) |
484 |
466 |
18 |
| Assets in Liquidation |
$13,783 |
$18,158 |
($4,375) |
$6 |
$7 |
($1) |
$13,789 |
$18,165 |
($4,376) |
| YTD Collections |
$5,483 |
$6,337 |
($854) |
$3 |
$18 |
($15) |
$5,486 |
$6,355 |
($869) |
| YTD Dividend/ Other Pymts - Cash |
$3,173 |
$3,917 |
($744) |
$- |
$- |
$- |
$3,173 |
$3,917 |
($744) |
| Fair Value and Interest Revenue for Citigroup Trust Preferred Securities (TruPs) (Dollars in millions) |
| |
Fair Value |
Interest Revenue |
| 2009 |
$1,962 |
$231 |
| 2010 |
$2,298 |
$178 |
| 2011 |
$2,213 |
$178 |
| 2012 |
$2,264 |
$178 |
| 2013 |
$2,420 |
$125 |
The DIF has recognized total revenue of $3.310 billion ($2.420 billion exchange and $890 million in interest revenue) for the TruPs acquired as part of the 2009 Citigroup loss protection guarantee.
The FDIC disposed of the TruPs on September 9, 2013, by transferring to Citigroup the TruPs with a par value of $2.225 billion in exchange for subordinated notes with a par value of $2.420 billion. The subordinated notes were subsequently sold by the FDIC to institutional investors on September 13, 2013.
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