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TagsPress Release
FDIC Closes on Sale of $1.8 Billion of Notes Backed by Mortgage-Backed Securities
Transaction Adds Liquidity to DIF and Stimulates Investor Demand
| FOR IMMEDIATE RELEASE
March 12, 2010 |
Media Contact:
David Barr (202) 898-6992 Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it |
The Federal Deposit Insurance Corporation (FDIC) today closed on a sale of notes backed by residential mortgage backed securities (RMBS) from seven failed bank receiverships. The sale was conducted through a private placement priced and allocated on March 5th. The transaction was met with robust investor demand, with over 70 investors participating across fixed and floating rate series. The investors included banks, investment funds, insurance funds and pension funds. All investors were qualified institutional buyers.
The $1.81 billion of notes is backed by 103 non-agency residential
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FDIC Acquisitions Policy Manual