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|
FSLIC
Resolution Fund (FRF) -
Second Quarter 2008
| Fund Financial Results |
($
in millions) |
| Selected
Financial Data |
| |
Jun-08 |
Mar-08 |
Quarterly Change |
Jun-07 |
Year-Over-Year Change |
| Cash and cash equivalents |
$3,444 |
$3,415 |
$29 |
$3,716 |
$(272) |
| Accumulated deficit, net |
(123,811) |
(123,825) |
14 |
(123,875) |
64 |
| Resolution equity |
3,458 |
3,444 |
14 |
3,751 |
(293) |
| Total revenue |
$43 |
$23 |
$20 |
$106 |
$(63) |
| Operating expenses |
2 |
1 |
1 |
2 |
0 |
| Goodwill/Guarini litigation expenses |
77 |
77 |
0 |
167 |
(90) |
| Net (loss)/Income |
$(41) |
$(55) |
$14 |
$(41) |
$0 |
| Receivership
Selected Statistics June 2008 vs. June 2007 |
| |
DIF |
FRF |
ALL FUNDS |
| Year-to-Date ($ in millions) |
Jun-08 |
Jun-07 |
Change |
Jun-08 |
Jun-07 |
Change |
Jun-08 |
Jun-07 |
Change |
| Total Receiverships |
22 |
24 |
(2) |
9 |
15 |
(6) |
31 |
39 |
(8) |
| Assets in Liquidation |
$2,343 |
$321 |
2,022 |
$34 |
$32 |
2 |
$2,377 |
$353 |
2,024 |
| Collections |
$221 |
$47 |
174 |
$4 |
$33 |
(29) |
$225 |
$80 |
145 |
| Dividends Paid |
$232 |
$252 |
(20) |
$4 |
$1 |
3 |
$236 |
$253 |
(17) |
| Top
Ten Bank & Thrift Failures from 1934 - 2008 by Asset Size ($
in billions) |
Institution Name |
Location |
Date of Assistance/ Failure |
Receiver |
Total Assets |
Estimated*/ Actual Loss |
| Continental Illinois N. B. & T |
Chicago, IL |
5/17/1984 |
FDIC |
$40.0 |
$1.1 |
| First RepublicBank Corp. (41 affiliates) |
Dallas, TX |
7/29/1988 |
FDIC |
$32.5 |
$4.0 |
| IndyMac Bank FSB* |
Pasadena, CA |
7/11/2008 |
FDIC |
$32.0 |
$8.9 |
| American Savings & Loan Assoc. |
"Stockton,
CA" |
9/7/1988 |
FSLIC |
$30.2 |
$5.4 |
| Bank of New England Corp (3 affiliates) |
Boston, MA |
1/6/1991 |
FDIC |
$21.7 |
$0.724 |
| MCorp (20 affiliates) |
Dallas, TX |
3/29/1989 |
FDIC |
$15.6 |
$2.8 |
| Gilbraltar Savings (2 affiliates) |
Simi Valley, CA |
3/31/1989 |
FSLIC |
$15.1 |
$0.095 |
| First City Bancorporation (60 affiliates) |
Houston, TX |
4/20/1988 |
FDIC |
$13.0 |
$1.1 |
| Homefed Bank, FA |
San Diego, CA |
7/6/1992 |
RTC |
$12.2 |
$0.752 |
| Southeast Bank, NA |
Miami, FL |
9/19/1991 |
FDIC |
$11.0 |
$0.0 |
Source: Historical Statistics on Banking Managing the Crisis, Failed Bank Cost Analysis Database.
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