The Federal Deposit Insurance Corporation (FDIC) as receiver of the former Signature Bank, New York, NY, and Silicon Valley Bank, Santa Clara, CA, will undertake a marketing process to sell the securities portfolios retained from the two receiverships.
The face values of the two portfolios are approximately $27 billion and $87 billion, respectively. The securities are primarily comprised of Agency Mortgage Backed Securities, Collateralized Mortgage Obligations, and Commercial Mortgage Backed Securities.
Today we announced the upcoming orderly liquidation of $115 billion in securities from the recent failures of Signature Bank and Silicon Valley Bank.
Read more ➡️https://t.co/Y3LdQXp0zL pic.twitter.com/jvEeUqWEP1
— FDIC (@FDICgov) April 5, 2023
The FDIC has retained BlackRock Financial Market Advisory to conduct portfolio sales, which will be gradual and orderly, and will aim to minimize the potential for any adverse impact on market functioning by taking into account daily liquidity and trading conditions.
Interested parties should contact extfdicinquiry@blackrock.com to obtain further information about the sale process and the qualifications to participate.
Source: FDIC
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