FDIC Announced Retention of BlackRock Financial Market Advisory to Conduct Portfolio Sales

On Wednesday, April 5, the FDIC announced that it retained BlackRock Financial Market Advisory to conduct the sales of the securities portfolios retained from the receiverships of Signature Bank and Silicon Valley Bank.

The face value of the portfolio of Signature Bank is $27 billion, and the face value of the portfolio of SVB is $87 billion. The securities are comprised of Agency Mortgage Backed Securities, Collateralized Mortgage Obligations, and Commercial Mortgage Backed Securities. The portfolio sales with be “gradual and orderly” with an “aim to minimize the potential for any adverse impact on market functioning by taking into account daily liquidity and trading conditions.”

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