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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) - First Quarter 2007

Fund Financial Results ($ in millions All data is unaudited)
  03/31/07 12/31/06 03/31/06 Year-Over-Year Change
Cash and cash equivalents
$        3,676 $        3,616 $        3,636 $         40
Accumulated deficit, net
(123,853) (123,834) (123,777) (76)
Resolution Equity 3,708 3,620 3,409 299
Total Revenue
$          64 $          169 $          37 $        27
Operating expenses 0 12 3 (3)
Expenses for Goodwill/Guarini litigation
103 411 179 (76)
Net (loss)
(19) (203) (146) 127

FRF Quarterly Payments for Goodwill & Guarini Case Settlements & Judgments

FRF Quarterly Payments for Goodwill & Guarini Settlements
  Goodwill Cases Guarini Cases
1st Quarter 2005
382 0
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

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
38 $1,157 million* 5 $153 million
Pending
23 n/a 0 n/a
Totals
122 $1,306 million 8 $274 million

*Three institutions account for 69% 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 06/04/2007 dofbusinesscenter@fdic.gov