(f) At September 30, 2016 , and December 31, 2015 , collateral held by the Firm in support of securities lending indemnification agreements was $170.3 billion and $190.6 billion , respectively. Securities lending collateral consists of primarily cash and securities issued by governments that are members of the Organization for Economic Co-operation and Development and U.S. government agencies.
Lets look at a few things or words.
FDIC is a Quazi Federal Agency. JPMC has an Indemnification Agreement with the FDIC.
USE OF PROCEEDS Unless otherwise described in the applicable prospectus supplement, we will use the net proceeds we receive from the sale of the securities offered by this prospectus and the applicable prospectus supplement for general corporate purposes. General corporate purposes may include the repayment of debt, investments in or extensions of credit to our subsidiaries, redemption of our securities or the financing of possible acquisitions or business expansion. We may invest the net proceeds temporarily or apply them to repay debt until we are ready to use them for their stated purpose.
Maybe the FDIC has forced JPM to finally buy the WMB for its fair book (BK) value: For which JPMC gets the WMB Stock, Preferred Shares, WMB MBS’s, WAMU Tax Refunds and 2.76b$ Cash.
For a WMB Estate value of 173B$ (Notice this number matches the WAMU Bankruptcy Listed Value and JPM Off Book Holdings)
FDIC gets this money to close out the FDIC receivership by paying out Bond Holders, Receiver Claim holders, Preferred and Common Shareholders and WMILT.
Currently, FDIC has claims for 645m$ (JPMC), 3b$ (Duestch Bank), 13.82b$ (WMB General Creditor & Bond Debt) 17.5m$ (FDIC Admin) and 151.2m$ (FDIC)
Total Receivership Claims: 17.635b$ Possible return to WMILT estate after claims: 40 - 155b$.
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