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.
to sell about $60 billion of failed lender Signature Bank's loans, a person familiar with the matter told Reuters on Wednesday.
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.
FDIC declined to comment while Newmark Group did not immediately respond to a Reuters request for comment on the matter.
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