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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

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

Selected Financial Data - First Quarter 2016

Fund Financial Results ($ in millions)
FSLIC Resolution Fund
 

Unaudited
Mar-16

Audited Dec-15
Quarterly Change
Unaudited Mar-15
Year-Over-Year Change
Cash and cash equivalents $872 $871 $1 $872 -
Accumulated deficit (124,617) (124,618) 1 (124,460) (157)
Total resolution equity 872 871 1 872 -
Total revenue 1 3   1 -
Operating expenses 1 3   - 1
Provision for losses (3) -   - (3)
Other expenses 2 -   - 2
Goodwill litigation expenses - 157   - -
Net Income (Loss) $1 ($157)   $1 $-

Receivership Selected Statistics March 2016 vs. March 2015
$ in millions
DIF
FRF
ALL FUNDS
  Mar-16 Mar-15 Change Mar-16 Mar-15 Change Mar-16 Mar-15 Change
Total Receiverships 439 483 (44) - - - 439 483 (44)
Assets in Liquidation $4,433 $7,289 ($2,856) $2 $5 (3) $4,435 $7,294 ($2,859)
YTD Collections $372 $1,365 ($993) $1 $- $1 $373 $1,365 ($992)
YTD Dividend/ Other Pymts - Cash $1,789 $2,170 ($381) $- $- $- $1,789 $2,170 ($381)

DIF Monthly Interest Revenue (dollars in millions)

DIF Monthly Interest Revenue (Dillions in millions)
 
Dollars
Jan 2015
$18,063
Feb 2015
$17,771
Mar 2015
$24,156
Apr 2015
$37,094
May 2015
$38,846
Jun 2015
$37,041
Jul 2015
$40,960
Aug 2015
$41,217
Sep 2015
$39,695
Oct 2015
$41,351
Nov 2015
$40,447
Dec 2015
$46,142
Jan 2016
$48,845
Feb 2016
$44,860
Mar 2016
$53,227

The estimated recoveries from assets held by receiverships and estimated payments related to share-loss covered assets and other liabilities are used to derive the loss allowance on the receivables from resolutions.

The $23 million adjustment resulted from greater-than-anticipated collections from a receivership's investment in a structured transaction.

The $46 million net adjustment to the receiverships' shared-loss liability primarily resulted from higher than estimated final payments on commercial shared-loss agreements (SLA) where loss coverage expired, net of savings on early SLA terminations.

The $6 million adjustment resulted from a $9 million increase in estimated rep & warranty liabilities, net of a $3 million decline in estimated litigation liabilities.

 

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