FDIC may sell bonds tied to failed banks: report
The Federal Deposit Insurance Corp may start selling bonds tied to the assets of failed banks as soon as next month, according to the Bloomberg news website.
The first sales could include about $2 billion of the FDIC's remaining stakes in loans from Corus Bank
The FDIC also may sell parts of a re-securitization of about $2 billion of mortgage bonds without government-backed guarantees, Bloomberg said. The FDIC would insure the senior-ranked securities but is unlikely to sell or guarantee the junior securities, according to the report.
A spokesman for the FDIC said in an e-mailed statement that the agency cannot comment on pending sales.
The FDIC, which currently holds about $40 billion of assets from seized banks, last year sold part of its holdings in Corus and Franklin as structured loans, according to the report.
(Reporting by Clare Baldwin; editing by Carol Bishopric)
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