FDIC Starts Selling $114 Billion of Bonds From Failed Banks

Wall Street Journal, Apr. 19, 2023–Matt Wirz (subscription)
The Federal Deposit Insurance Corp. has begun selling bonds it inherited from Silicon Valley Bank and Signature Bank to recoup the cost of rescuing the failed banks’ depositors. The FDIC put up for auction about $700 million of high-quality mortgage-backed bonds Tuesday in what could prove to be a test of how much the U.S. government recovers on the $114 billion in face value of the bonds it assumed.