Corporate Asset Management Estates Recoveries and Claims - September 2023

^a Assets recovered or utilized to reduce fiduciary liabilities (not a current fiduciary asset).

^b Proceeds recovered from legacy assets formerly in NGN transactions. This line item was added to breakout these NGN legacy asset recoveries from the "Proceeds from Asset Sales, P&I Receipts and Other Recoveries" line item where the amounts were previously located.

^c Legal recoveries and related expenses net to a total recovery of $3.8 billion. More information is available on the "Legal Recoveries" section of the transparency website at www.ncua.gov. Differs to website by $61.194 million due to expenses netted off of gross recoveries.

^d Shown as a fiduciary asset/liability.

^e Not shown as a fiduciary asset/liability.

^f If depleted member capital is repaid by USC AME, a portion will be distributed to the other AMEs holding capital claims. In this line item, $89.7 million has been distributed to WSC AME, $288.0 million to MUC AME, $246.2 million to SWC AME, and $32.0 million to CON AME.

^g Wescorp AME received recovery from the residual equity paid by Western Bridge.

^h Liabilities and expenses paid or netted against fiduciary assets (not a current fiduciary liability).

ⁱ This represents estimated expenses accrued for through the full resolution of the Asset Management Estates.

^j Outstanding NGN investors and trust expenses must be fully repaid at NGN maturity. NCUSIF provides this required funding and facilitates the return of each AME's NGN collateral. NCUA then considers available options to dispose of these legacy assets to satisfy the claims. Formerly securitized assets recovered and utilized to reduce these claims are located in line item 3.

^k These were paid for those AMEs where the General Creditors are next in line for payment before payment is made to lower level claims.

^l Projected surplus or unpaid claims at the resolution of the estates. The MUC AME surplus includes $41 million of dividends paid and the SWC AME surplus includes $319 million of dividends paid to date.

^m Due to NCUSIF represents the assets recovered and utilized to reduce fiduciary liabilities (endnote a) less liabilities and expenses paid or netted against fiduciary assets (endnote h). This line item indicates the net balance due to NCUSIF.

ⁿ There are no claims at the B3 and B8 payment priority levels.

^o AME obligations backed by the NCUA guarantee which were repaid, and for which the NCUA claims reimbursement.

^p Shares/certificates insured up to the insurance limit.

^q Depleted member and paid in capital; original amounts updated for expired claims due to credit union dissolution; USC AME capital holders inclusive of AMEs.

^r Potential equity distribution (surplus) to members after fully distributing or sufficiently provisioning for all senior claims.