The Federal Deposit Insurance Corp (FDIC) has hired Newmark Group Inc to sell about $60 billion of failed lender Signature Bank’s loans, a person familiar with the matter told Reuters on Wednesday.
The U.S. banking industry has been reeling from the fallout of recent failures, with regulators seeking to reassure customers their deposits were safe and that the American banking system remained healthy.
Regional bank stocks have been battered as investors stayed away from the sector amid doubts over whether the U.S. Federal Reserve would hold off on its plans to aggressively hike interest rates, which have been blamed for eroding book value of securities and sparking the biggest banking crisis since 2008
Source : Newmark Group Hired by FDIC to Sell Billions in Signature Bank Debt, Says Source