Mar
02

FDIC Seen Stepping Up Sales of Failed Bank Assets

By
– Reuters

The U.S. Federal Deposit Insurance Corp is expected to offer $3.8 billion of guaranteed securitizations backed by the residential mortgage assets of failed banks, market sources said on Tuesday.

The deals are expected to come in three separate transactions with Barclays Capital acting as sole manager for the sales, market sources said.

The FDIC could not immediately be reached for comment.

Its first $1.81 billion two part transaction, is expected to price later this week. Two additional offerings, including a $1.37 billion three-part sale and a $668 million one-tranche deal, are seen pricing in the coming weeks, after investor road shows were held for all three, market sources said.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.reuters.com/article/idUSTRE6213YY20100302
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