|
|
FSLIC
Resolution Fund (FRF) -
Fourth Quarter 2007
| Fund Financial Results |
($
in millions) |
| Statement
of Cash Flows |
| |
(audited) 12/31/2007 |
(unaudited) 9/30/2007 |
Quarterly Change |
(audited) 12/31/2006 |
Year-Over-Year Change |
| Cash and cash equivalents |
$3,617 |
$3,764 |
$(147) |
$3,616 |
$1 |
| Accumulated deficit, net |
(123,770) |
(123,836) |
66 |
(123,834) |
64 |
| Resolution equity |
3,648 |
3,790 |
(142) |
3,620 |
28 |
| Total revenue |
$188 |
$150 |
$38 |
$169 |
$19 |
| Operating expenses |
3 |
2 |
1 |
12 |
(9) |
| Goodwill/Guarini litigation expenses |
196 |
178 |
18 |
411 |
(215) |
| Net (loss/income) |
$64 |
$(2) |
$66 |
$(203) |
$267 |
| DIF
Active Receiverships - Remaining Assets-in-Liquidation by
Year of Receivership Failure |
| |
Receiverships |
Assets-in-liquidation |
Percentage |
|
1990-1999
|
11 |
$7,189 |
68 |
2001
|
1 |
$218,893 |
25 |
2002 |
4 |
$32,319 |
4 |
2003 |
2 |
$14,772 |
2 |
2004 |
1 |
$1,524 |
0.2 |
2007 |
3 |
$591,974 |
68 |
Summary
of Goodwill & Guarini Litigations
(Inception-to-Date)
$ in Millions |
$ in Millions
| Goodwill |
Guarini |
| |
#
of Cases |
Amount
Paid/Accrued |
# of Cases |
Amount
Paid |
Dismissals/Time
Barred
|
43 |
n/a |
0 |
n/a |
|
Settlements
|
18 |
$149 |
3 |
$121
|
Judgements
|
42 |
$1,238* |
5 |
$153 |
Pending
|
19 |
n/a |
0 |
n/a |
Totals
|
122 |
$1,387 |
8 |
$274
|
*Four
institutions account for 65% 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).
|
