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

Selected Financial Data - First Quarter 2019

Fund Financial Results ($ in millions)

	Mar-19	Dec -18	Quarterly Change	Mar -18	Year-Over-Year Change
FSLIC Resolution Fund
Cash and cash equivalents	$907	$902	$5	$889	$18
Accumulated deficit	(124,582)	(124,587)	5	(124,601)	19
Total resolution equity	908	902	6	889	19
Total revenue	5	17		3	2
Operating expenses	0	0		0	0
Losses related to thrift resolutions	0	0		0	0
Net Income (Loss)	$5	$17		$3	$2

Receivership Selected Statistics March 2019 vs. March 2018

$ in millions	DIF			FRF			ALL FUNDS
	Mar-19	Mar-18	Change	Mar-19	Mar-18	Change	Mar-19	Dec-18	Change
Total Receiverships	271	317	(46)	0	0	0	271	317	(46)
Assets in Liquidation	$1,035	$2,097	($1,062)	$2	$2	$0	$1,037	$2,099	($1,062)
YTD Collections	$400	$492	($92)	$ 0	$0	$0	$400	$492	($92)
YTD Dividend/Other Pmts - Cash	$255	$847	($592)	$ 0	$0	$ 0	$255	$847	($592)

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
1Q 2019	117%	507	434

Since 2013, the coverage ratio has steadily risen as a result of significant increases in interest revenue on U.S. Treasury securities, nominally offset by increases in operating expenses.

Increases in interest revenue on U.S. Treasury securities are due to: 1) increases in the federal funds target rate, 2) higher yields on new long-term investments purchased as older long-term investments matured, and 3) steady growth in the investment portfolio balance.