https://sputnikglobe.com/20230404/us-deposit-insurance-corporation-announces-sale-of-signature-banks-loan-portfolio-1109102881.html
US Deposit Insurance Corporation Announces Sale of Signature Bank's Loan Portfolio
US Deposit Insurance Corporation Announces Sale of Signature Bank's Loan Portfolio
Sputnik International
The US Federal Deposit Insurance Corporation (FDIC) has announced its plans to launch the sale of the roughly $60 billion loan portfolio of the collapsed New York-based Signature Bank this summer.
2023-04-04T08:13+0000
2023-04-04T08:13+0000
2023-04-04T08:13+0000
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"The Federal Deposit Insurance Corporation (FDIC) today [on Monday] announced the framework of a marketing process for the approximately $60 billion loan portfolio retained in receivership following the failure of Signature Bank, New York, New York," the corporation's statement read. The collapsed bank's portfolio is comprised mostly of commercial real estate (CRE) loans, commercial loans and a smaller share of single–family residential loans, the corporation said, adding that the marketing process would start in summer with Newmark & Company Real Estate providing consultation. The bankruptcy of Signature Bank, announced by the FDIC on March 12, followed the collapse of Silicon Valley Bank (SVB) on March 10, which was the most spooky event in the US banking sector this year. US federal regulators closed SVB, the largest US bank to fold since the 2008 financial crisis and the second largest implosion in the country's history. The collapse of SVB was connected with the increase in interest rates by the Federal Reserve System and poor risk management, among other factors.
https://sputnikglobe.com/20230318/at-least-186-us-banks-at-potential-risk-of-a-run-similar-to-svb-economists-warn--1108531654.html
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us federal deposit insurance corporation, new york-based signature bank
us federal deposit insurance corporation, new york-based signature bank
US Deposit Insurance Corporation Announces Sale of Signature Bank's Loan Portfolio
MOSCOW (Sputnik) - The US Federal Deposit Insurance Corporation (FDIC) has announced its plans to launch the sale of the roughly $60 billion loan portfolio of the collapsed New York-based Signature Bank this summer.
"The Federal Deposit Insurance Corporation (FDIC) today [on Monday] announced the framework of a marketing process for the approximately $60 billion loan portfolio retained in receivership following the failure of Signature Bank, New York, New York," the corporation's statement read.
The collapsed bank's portfolio is comprised mostly of commercial real estate (CRE) loans, commercial loans and a smaller share of single–family residential loans, the corporation said, adding that the marketing process would start in summer with Newmark & Company Real Estate providing consultation.
The bankruptcy of Signature Bank, announced by the FDIC on March 12, followed the collapse of
Silicon Valley Bank (SVB) on March 10, which was the most spooky event in the US banking sector this year. US federal regulators closed SVB, the largest US bank to fold since the 2008 financial crisis and the second largest implosion in the country's history. The collapse of SVB was connected with the increase in interest rates by the Federal Reserve System and poor risk management, among other factors.
