HomeIndustriesBlackRock Unit Retained to Sell Failed U.S. Banks' Securities

BlackRock Unit Retained to Sell Failed U.S. Banks’ Securities

Financial Market Advisory, a unit of BlackRock, has been retained by the Federal Deposit Insurance Corporation (FDIC) to sell the securities portfolios that the FDIC kept in receivership following the collapse of Silicon Valley Bank and Signature Bank.

According to a statement made by the regulator on Wednesday, the value of the Signature Bank portfolio is about $27 billion, while that of Silicon Valley Bank is approximately $87 billion.

On Monday, FDIC stated that it was beginning the marketing process for Signature Bank loan portfolio retained in receivership to the value of about $60 billion. Reuters later reported that the FDIC had retained advisers to sell the securities portfolios that the regulator had acquired following its takeover of Silicon Valley Bank and Signature Bank.

In a statement on Wednesday, the FDIC confirmed that the securities are primarily comprised of agency mortgage-backed securities, collateralized mortgage obligations, and commercial mortgage-backed securities.

Stocks Continue Slide as Israel-Iran Tension Ensues

Stocks on the New York Stock Exchange continued their drop-off on Friday as investor anxiety rose following Israel's retaliatory strike against Iran. Market composure...

United Airlines Stock Jumps 14% After Strong Q1 Results and Optimistic Projections for Q2

Following a strong first-quarter earnings report, United Airlines saw its stock jump 14% on Wednesday. Investors were also intrigued by the company’s optimistic projections...

iPhone Shipments Drop By 10%, Get Overtaken By Samsung as World’s Largest Phone Seller

2024 is shaping up to be a challenging year for tech giant Apple. The company saw its iPhone shipments drop by almost 10% in...