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.

Home Prices Rise for Second Straight Month

U.S. home prices increased for a second consecutive month in March, reflecting the sustained inventory shortage faced by buyers. This streak comes after seven...

Futures Rise as Debt Ceiling Deal Set for Next Challenge

U.S. futures advanced during Tuesday's morning session as investors wait for the U.S. debt-ceiling deal to be presented before Congress. Policymakers are under pressure...

Oil Remains Steady as Traders Await Approval of Debt Ceiling Deal

Oil remained little changed on Monday as traders wait to see if lawmakers approve the U.S. debt ceiling deal that policymakers agreed to on...