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FDIC begins sale of $18.5 billion loan portfolio from Signature Bank linked to major private equity firms
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Asset Management, Bloomberg News reported on Friday, citing a person familiar with the matter. Also read: FDIC asks banks to submit final bids for First Republic by Sunday: report The FDIC hired Newmark Group in March to sell about $60 billion of Signature Bank's loans, after state regulators decided to close down the failed lender amid a turmoil in regional banks earlier this year.
Also read: FDIC plans to offer $60 billion of Signature Bank loans in the coming months The FDIC declined to comment beyond the notice on its website. The sale was launched on July 25 and is limited to FDIC-insured depository institutions, the Bloomberg report said.
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