Sunday, April 16, 2023 2:48:11 AM
Watch my signature image to see how the Net Worth evolved during conservatorship (the PLMBS lawsuit settlement wasn't included yet) and how the UST backup of FnF works; The dividend on the cumulative SPS coincide with the interests on the amount due to FnF, after applying their special borrowing right from UST. So, it's netted out.
COMMON EQUITY: $97B ($150ps). It was calculated:
Beginning balance, June 2008:$-1.2B
+Accumulated Total Comprehensive Income (adjusted for the charges in several Accounting standard changes):$72B
+CRT, net (Retained Earnings):$7.7B
+73% PLMBS lawsuit, based on the AOCI (unrealized losses in PLMBS) on June 30, 2008, compared to Fannie Mae: $19B
It's reflected on the Balance Sheet with a posting of $97B on the Retained Earnings account and the Treasury Stock is reduced to $0 (the stocks repurchased are retired), the other accounts are approximately $0 as seen today.
Common Equity as of end of December 2022:
$0 common stock par value
$0 Additional Paid-In Capital
$0 Treasury Stock
$97B Retained Earnings account
$0 AOCI
CASH REFUND=$74B
U.S. Treasury, $55.8B: $48B SPS overpayment +$7.7B CRT, net.
FHFA, $18B PLMBS lawsuit (Atty fees, included)
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