FDIC to Sell Securities from Former Signature Bank and Silicon Valley Bank

FDIC plans to sell securities portfolios of former Signature Bank and Silicon Valley Bank, aiming to minimize market impact.

The Federal Deposit Insurance Corporation (FDIC) has announced plans to sell the securities portfolios of the former Signature Bank in New York, and Silicon Valley Bank in California.

With face values of approximately $27 billion and $87 billion respectively, these portfolios primarily consist of Agency Mortgage Backed Securities, Collateralized Mortgage Obligations, and Commercial Mortgage Backed Securities.

BlackRock Financial Market Advisory has been retained by the FDIC to conduct the sales, which will be conducted gradually and orderly to minimize potential market impact.

Small business owners who relied on these banks for financial services may want to monitor the sales process to evaluate potential impacts on their credit options.

To learn more about the sale process and qualifications, interested parties can contact extfdicinquiry@blackrock.com.

Joshua Sophy Joshua Sophy is the Editor for Small Business Trends and has been a member of the team for 16 years. A professional journalist with 20 years of experience in traditional media and online media, he attended Waynesburg University and is a member of the Society of Professional Journalists. He has held roles of reporter, editor and publisher, having founded his own local newspaper, the Pottsville Free Press.