![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Monday, August 28, 2017 5:10:20 AM
It settles the following cases:
North Carolina Department of Revenue v. FDIC,
No. 10-cv-505 (RMC)
JPMorgan Chase Bank, N.A. v. FDIC, No. 12-cv-450 (RMC)
JPMorgan Chase Bank, N.A. v. FDIC, No. 13-cv-1997 (RMC)
Deutsche Bank National Trust Company v. FDIC, et al., No. 09~cv~1656 (RMC)
More importantly, it settles all disputes concerning Article XII from the P&A Agreement.
What is PARTICULARLY interesting is the following:
12.8 Subrogation. Upon payment by the Receiver, or the Corporation as guarantor in
accordance with Section 12.7, to any Indemnitee for any claims indemnified by the Receiver under this Aricle XII, the Receiver, or the Corporation as appropriate, shall become subrogated
to all rights of the Indemnitee against any other Person to the extent of such payment.
Remember the FDIC Subrogated claim of 151 billion dollars?
Exactly.
According to JPM figures ON R-203 section of 10k of 2015 they reserved (OFF BALANCE SHEET) 80 billion in cash (repayment/refinancing), and 20+ billion in cash (50 billion in liquidated mortgages with 59% loss), and 30+ billion in unliquidated mortgages for INDEMNIFICATION purposes...
ÍMO that is what we can expect from the FDIC-R.
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