XIV. INJURY

 	347. As a consequence of the Respondents' actions, UFG and USAT failed 
to disclose to the FHLBB substantial deficiencies in USAT's regulatory 
capital.
 	348. As a consequence of the Respondents' actions, UFG and USAT 
misrepresented and omitted material facts in communications to the FHLBB, 
and, as a consequence, the FHLBB was deprived of the opportunity to 
exercise its official regulatory judgment and discretion with full 
knowledge of all material facts concerning the transactions and other 
matters described in this Notice.
 	349. As a consequence of the Respondents' actions and the resulting 
material misrepresentations and omissions of material facts the federal 
insurance fund has suffered substantial losses.