WSJ: Newmark to sell $60bn worth of loans from bankrupt Signature Bank
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The US Federal Deposit Insurance Corporation (FDIC), which manages the assets of the bankrupt Signature Bank, has hired Newmark Group, a consulting company, to sell the bank’s $60 billion loan portfolio. The Wall Street Journal with reference to sources.
New York-based Signature Bank went bust days after the high-profile failure of another US bank, Silicon Valley Bank. Last week became knownthat a significant portion of Signature Bank’s assets will be acquired by New York Community Bank. On Sunday found a buyer and on the main assets of SVB – holding First Citizens Bank & Trust. However, a significant part of the assets of both banks remains under the control of the FDIC. Now she has turned to Newmark, which will seek buyers for Signature Bank’s portfolio of loans. The FDIC and Newmark have not yet commented on this information.
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