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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) - 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

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

$ in Millions

Summary of Goodwill & Guarini Litigations
(Inception-to-Date)
$ 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).



Last Updated 03/11/2008 dofbusinesscenter@fdic.gov