FDIC closes sale of $1.8 billion in notes backed by MBS
The Federal Deposit Insurance Corporation (FDIC) has closed on a sale of notes backed by residential mortgage-backed securities (RMBS) from seven failed bank receiverships. The sale was conducted through a private placement priced and allocated on March 5th. The transaction was met with robust investor demand, with over 70 investors participating across fixed and floating rate series. The investors included banks, investment funds, insurance funds and pension funds. All investors were qualified institutional buyers.