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Earlier this month, the Federal Deposit Insurance Corp (FDIC) retained BlackRock’s unit to sell the securities portfolios it kept in receivership after the collapse of Signature Bank (OTC:SBNY) and Silicon Valley Bank.
BlackRock’s financial markets advisory unit will conduct sales of the two portfolios with face values of nearly $27 billion and $8 billion, according to FDIC’s website.
It also plans to hold auctions of other securitized pools of assets including residential mortgage-backed securities that aren’t backed by government agencies, as well as collateralized mortgage obligations, according to a separate note seen by Bloomberg.
The asset manager declined to comment.
