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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) - Third Quarter 2007

Fund Financial Results ($ in millions All data is unaudited)
Statement of Cash Flows
 
(unaudited) 9/30/2007
(audited) 12/31/2006
(unaudited) 9/30/2006
 Year-Over-Year Change
Cash and cash equivalents $3,764 $3,616 $3,565 $199
Accumulated deficit, net (123,836) (123,834) (123,625) (211)
Resolution equity 3,790 3,620 3,577 213
Total revenue $150 $169 $124 $26
Operating expenses 2 12 12 (10)
Goodwill/Guarini litigation expenses 179 411 158 21
Net (loss/income) $(2) $(203) $6 $(8)

FRF Quarterly Payments for Goodwill & Guarini Case Settlements & Judgments

FRF Quarterly Payments for Goodwill & Guarini Settlements
  Goodwill Cases Guarini Cases
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
2nd Quarter 2007
74 0
3rd Quarter 2007
46 0

$ 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
41 $1,221 * 5 $153 
Pending
20 n/a 0 n/a
Totals
122 $1,370 8 $274

*Four institutions account for 66% 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 11/27/2007 dofbusinesscenter@fdic.gov