BANKING & FINANCE - Dec. 18, 1993

RTC Thrifts Lost $760 Million in Third Quarter: The 68 insolvent thrifts operating in the Resolution Trust Corp.’s conservatorship program on Sept. 30 had net operating losses of $414 million, the result of $9 million in net interest income offset by $423 million in non-interest operating expenses. Operating losses represent the cash expense of funding the thrifts’ negative net worth and operating expenses, such as salaries and other overhead. They also include marketing expenses related to the sale of assets held in conservatorships. The remaining $346 million reflects non-cash charges to recognize prior losses on assets.