The Federal Deposit Insurance Corporation (FDIC), as the trustee of a former signatory bank (New York, NY) and the Silicon Valley Bank (Santa Clara, CA), set up a marketing process for the sale of securities portfolios held from the two trustees. carry out.
The par value of the two portfolios is approximately $27 billion and $87 billion, respectively. Securities consist primarily of agency mortgage-backed securities, secured mortgage obligations and commercial mortgage-backed securities.
The FDIC utilizes BlackRock Financial Market Advisory to market its portfolio. This is gradual and methodical, and aims to minimize the potential adverse impact on market functioning, taking into account day-to-day liquidity and trading conditions.Please contact me if you are interested [extfdicinquiry@blackrock.com]Please contact (mailto:extfdicinquiry@blackrock.com) for more information on the sales process and eligibility.
fred.stlouisfed.org/series/WLCFOCEL
tool | 3/15 | 3/22 | 3/29 |
---|---|---|---|
“Other Credit Extensions” | $142.8 billion | $179.8 billion | $180.1 billion |
“Other Credit” includes loans extended to depository institutions established by the Federal Deposit Insurance Corporation (FDIC). Federal Reserve loans to these depository institutions are collateralized and the FDIC provides repayment guarantees.
The FDIC created a temporary bank to support the operations of the bank it owns. Taken over.
The FDIC did not have the funds to operate these banks.
The Federal Reserve is offering it in the form of loans “Other Credit Extensions”.
The FDIC plans to sell the assets of the acquired banks.
Whatever the difference between the asset sale and the final loan amount would be, it would be split among all remaining banks and applied as a special fee to make the Fed “whole”.
Banks are trying to pass on this cost in some way, so it can be argued that the consumer will end up paying for this.
- The Federal Deposit Insurance Corporation (FDIC), as the trustee of a former signatory bank (New York, NY) and the Silicon Valley Bank (Santa Clara, CA), set up a marketing process for the sale of securities portfolios held from the two trustees. carry out.
- The FDIC has commissioned BlackRock Financial Market Advisory to sell the portfolio, which will be staged and methodical, taking into account daily liquidity and trading conditions to minimize the potential adverse impact on market functioning. We aim to keep it to a minimum.
- The par value of the two portfolios is approximately $27 billion and $87 billion, respectively. Securities consist primarily of agency mortgage-backed securities, secured mortgage obligations and commercial mortgage-backed securities.
- Any difference between the sale of assets and the final number of loans will be split among all remaining banks and applied as a special fee.
- Banks are trying to pass on this cost in some way, so it can be argued that the consumer will end up paying for this.