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

Selected Financial Data - Fourth Quarter 2019

Fund Financial Results ($ in millions)

	Dec-19	Sep -19	Quarterly Change	Dec -18	Year-Over-Year Change
FSLIC Resolution Fund
Cash and cash equivalents	$923	$918	$5	$902	$21
Accumulated deficit	(124,566)	(124,570)	4	(124,587)	21
Total resolution equity	923	919	4	902	21
Total revenue	20	17	3	17	3
Operating expenses	1	0	1	0	1
Recovery of tax benefits	(1)	0	(1)	0	(1)
Losses related to thrift resolutions	0	0	0	0	0
Net Income (Loss)	$21	$17	$4	$17	$4

Receivership Selected Statistics December 2019 vs. December 2018

$ in millions	DIF			FRF			ALL FUNDS
	Dec-19	Dec-18	Change	Dec-19	Dec-18	Change	Dec-19	Dec-18	Change
Total Receiverships	248	272	(24)	0	0	0	248	272	(24)
Assets in Liquidation	$524	$1,176	($652)	$ 0	$ 2	$ (2)	$524	$1,178	($654)
YTD Collections	$1,341	$1,449	($108)	$2	$ 1	$ 1	$1,343	$1,450	($107)
YTD Dividend/Other Pmts - Cash	$1,675	$3,252	($1,577)	$ 0	$ 0	$ 0	$1,675	$3,252	($1,577)

DIF Coverage Ratio Interest on U.S. Treasury (UST) Securities as a percentage of Operating Expenses  ($ in millions)
	Coverage Ratio	Interest on UST securities	Operating Expenses
2008	201%	2,072	1,033
2009	55%	704	1,271
2010	13%	205	1,593
2011	8%	128	1,625
2012	9%	159	1,778
2013	6%	103	1,609
2014	17%	282	1,664
2015	25%	423	1,687
2016	39%	671	1,715
2017	61%	1,057	1,739
2018	93%	1,633	1,765
2019	118%	2,117	1,796

Since 2013, the coverage ratio has steadily risen as a result of significant increases in interest revenue of U.S. Treasury securities (an annual average increase of 79%), nominally offset by increases in operating expenses (an annual average increase of 2%).

Increases in interest revenue of U.S. Treasury securities are due largely to steady growth in the investment portfolio balance.