Newmark Group to Sell Billions of Signature Bank Debt for FDIC
TL;DR Summary
The FDIC has hired Newmark Group to sell about $60 billion of failed lender Signature Bank's loans. This comes as the U.S. banking industry is reeling from recent failures, with regulators seeking to reassure customers their deposits were safe and that the American banking system remained healthy. The sale of a loan book this large is likely to have a ripple effect on the commercial property market, at a time when property values are already being squeezed.
- FDIC hires Newmark Group to sell billions of Signature Bank debt - source Reuters
- Billions in Signature Bank Debt to Be Sold by Newmark Group The Wall Street Journal
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