Mr Cooper Group Inc fka COOP

[XOM]

FDIC footnote: WMfsb had $46B assets/$29B equity capital
According to a FDIC quarterly report aggregating figures from all insured depository institutions, WMfsb - a direct subsidiary of WMB - had $46B assets and $29B equity double-accounted on WMI's financial statements.

Total equity capital fell by $44.2 billion (3.3 percent) during the third quarter. A $14.6-billion decline in other comprehensive income, driven primarily by unrealized losses on securities held for sale, was a significant factor in the reduction in equity, but most of the decline stemmed from the accounting effect of the failure of Washington Mutual Bank (WaMu).2

2. Prior to September 25, 2008, Washington Mutual FSB of Park City, Utah, an insured institution with $46 billion in assets and $29 billion in equity capital, was directly owned by Washington Mutual Bank of Henderson, Nevada. Under accounting rules, the subsidiary institution’s assets and liabilities were included in the consolidated financial data reported by the parent institution, resulting in double-reporting of some of the subsidiary’s financial data. The direct ownership relationship ended with the failure of the parent institution during the third quarter, at which point the subsidiary institution’s financial data were no longer double-reported. [2]

XOM: Where did this money go?
[Update] WMfsb was wholly merged into JPMCB, no doubt to allay its own liquidity issues in 2008.

GLTA

Source
FDIC Quarterly Banking Profile, 3Q 2008
http://www2.fdic.gov/qbp/2008sep/qbp.pdf

Applications for JPMorgan Chase Bank, National Association, Columbus, Ohio ("JPMCB"), to Acquire Assets and Liabilities from Washington Mutual Bank, Henderson, Nevada ("WMB"), and to Merge Washington Mutual Bank FSB, Park City, Utah ("WMBIFSB"), a subsidiary of WMB, into JPMCB; and for Chase USA, National Association, Newark, Delaware, to Acquire from JPMCB Certain of the Assets and Liabilities that JPMCB Acquired from WMB
http://www.occ.treas.gov/ftp/release/2008-114a.pdf