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

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

   •  Summary Trends and Results
I. Corporate Fund Financial Results

   •  DIF Balance Sheet
   •  DIF Income Statement
   •  DIF Statements of Cash Flows
   •  FRF Statements of Cash Flows
II. Investments Results & Prospective Strategies

   •  Corporate Investment Portfolio Summary
   •  Approved Investment Strategy
III. Budget Results

   •  Budget & Expenditures by Major Expense Categories
   •  Budget & Expenditures by Budget Component, Division & Office
Printable Version

FSLIC Resolution Fund (FRF) - Second Quarter 2007

Fund Financial Results ($ in millions – All data is unaudited)
  06/30/07 12/31/06 06/30/06 Year-Over-Year Change
Cash and cash equivalents
$        3,716 $        3,616 $        3,506 $         210
Accumulated deficit, net
(123,875) (123,834) (123,684) (191)
Resolution Equity 3,751 3,620 3,502 249
Total Revenue
$          106 $           169 $           80 $           26
Operating expenses 2 12 8 (6)
Expenses for Goodwill/Guarini litigation
167 411 124 43
Net (loss)
$          (41) $         (203) $          (53) $          12

FRF Quarterly Payments for Goodwill & Guarini Case Settlements & Judgments

FRF Quarterly Payments for Goodwill & Guarini Settlements
  Goodwill Cases Guarini Cases
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
2nd Quarter 2007
74 0

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
41 $1,221 million* 5 $153 million
Pending
20 n/a 0 n/a
Totals
122 $1,370 million 8 $274 million

*Four institutions account for 66% 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).



Last Updated 09/13/2007 dofbusinesscenter@fdic.gov

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