Von: "Brown, Robert R."
Betreff: RE: only one question
Datum: Thu, 19 Mar 2015 15:14:28 +0000
An:
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Dear Mr.
Thank you for contacting the FDIC Office of the Ombudsman, an independent, neutral and confidential resource for those having a problem with the FDIC.
Here are the answers to your questions.
Question: You mention a FDIC Subrogated Claim of $151.150 billion; where is this claim coming from? Who are the claimants?
Answer: The FDIC subrogated claims are the claims of the depositors of Washington Mutual bank.
Question: Also there is a mention of the same amount in Dividends Paid to date; to whom were these dividends paid?
Answer: The dividends were paid to the depositors of Washington Mutual Bank through JPMorgan Chase.
Questions: Does FDIC Receiver have assets in receivership that are kept off this quarterly balance sheet?
- If yes, why is this amount not disclosed?
- If no, where did the remaining assets go if they did not go to JPM?
Answer: The FDIC receiver does not have assets in receivership that are kept off the "Washington Mutual Bank - Receivership Balance Sheet Summary (Unaudited)." The balance sheet does not reflect the assets of Washington Mutual bank because the FDIC as receiver never came into possession of those assets. Instead, JPMorgan Chase acquired the assets, assumed the qualified financial contracts and made a payment of $1.9 billion, and this payment is reflected in the "Washington Mutual Bank - Receivership Balance Sheet Summary (Unaudited)." While the assets of Washington Mutual Bank are not reflected in the "Washington Mutual Bank - Receivership Balance Sheet Summary (Unaudited)" because of the nature of the transaction, all of Washington Mutual’ s assets passed to JPMorgan Chase.
You should review the 2008 Annual Report of JPMorgan Chase for a clearer understanding of the transaction.
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-----Original Message-----
From:
Sent: Monday, March 16, 2015 11:33 AM
To: Ombudsman Washington
Subject: only one question
Dear Ladies and Gentlemen,
I have a few questions on the figures mentioned here:
www.fdic.gov/bank/individual/failed/wamubalsheet.html
- You mention a FDIC Subrogated Claim of $151.150 billion; where is this claim coming from? Who are the claimants?
- Also there is a mention of the same amount in Dividends Paid to date; to whom were these dividends paid?
Because I'm also researching the assets that went from WaMu to JPM, and I noticed 151+ billion in assets were NOT transferred to JPM, my question is the following:
- Does FDIC Receiver have assets in receivership that are kept off this quarterly balance sheet?
- If yes, why is this amount not disclosed?
- If no, where did the remaining assets go if they did not go to JPM?
I hope you can answer these questions. If otherwise, I can consult other sources.
Thanks in advance.
Sincerely,