The Federal Deposit Insurance Corporation (FDIC) of the United States announced on Monday the process of selling a portfolio of Signature Bank loans of about 60,000 million dollarsheld in receivership after the bankruptcy of the bank.
The FDIC said in a statement that it expects to begin marketing the former Signature Bank’s retained loan portfolio later this summer.
The portfolio is comprised primarily of commercial real estate loans (CREs), commercial loans, and a smaller group of single-family residential loans.
Last week, Reuters reported that the FDIC had hired advisers to sell the holdings that the new owners of failed Silicon Valley Bank and Signature Bank turned down.
On March 19, a unit of New York Community Bancorp had reached an agreement with US regulators to buy deposits and loans from Signature Bank.
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