BlackRock's Unit to Sell Securities of Collapsed Banks
In early April, the FDIC retained a BlackRock unit to manage the sale of securities portfolios it held in receivership following the collapse of Signature Bank (OTC: SBNY) and Silicon Valley Bank.
Two Major Portfolios Face Sale by BlackRock's Advisory Unit
BlackRock's financial markets advisory unit is responsible for conducting sales of two significant portfolios with face values of nearly $27 billion and $8 billion, as noted on the FDIC's website.
BlackRock to Auction Additional Securitized Asset Pools
Besides the two main portfolios, BlackRock plans to hold auctions for other securitized asset pools, such as residential mortgage-backed securities not backed by government agencies and collateralized mortgage obligations, according to a separate note viewed by Bloomberg.
