AGL 40.02 Increased By ▲ 0.02 (0.05%)
AIRLINK 127.35 Increased By ▲ 0.31 (0.24%)
BOP 6.62 Decreased By ▼ -0.05 (-0.75%)
CNERGY 4.50 Decreased By ▼ -0.01 (-0.22%)
DCL 8.62 Increased By ▲ 0.07 (0.82%)
DFML 41.79 Increased By ▲ 0.35 (0.84%)
DGKC 87.70 Increased By ▲ 0.85 (0.98%)
FCCL 32.68 Increased By ▲ 0.40 (1.24%)
FFBL 65.10 Increased By ▲ 0.30 (0.46%)
FFL 10.28 Increased By ▲ 0.03 (0.29%)
HUBC 109.55 Decreased By ▼ -0.02 (-0.02%)
HUMNL 14.75 Increased By ▲ 0.07 (0.48%)
KEL 5.10 Increased By ▲ 0.05 (0.99%)
KOSM 7.58 Increased By ▲ 0.12 (1.61%)
MLCF 41.41 Increased By ▲ 0.03 (0.07%)
NBP 59.70 Decreased By ▼ -0.71 (-1.18%)
OGDC 193.85 Increased By ▲ 3.75 (1.97%)
PAEL 28.36 Increased By ▲ 0.53 (1.9%)
PIBTL 7.79 Decreased By ▼ -0.04 (-0.51%)
PPL 151.75 Increased By ▲ 1.69 (1.13%)
PRL 26.40 Decreased By ▼ -0.48 (-1.79%)
PTC 16.17 Increased By ▲ 0.10 (0.62%)
SEARL 84.00 Decreased By ▼ -2.00 (-2.33%)
TELE 7.69 Decreased By ▼ -0.02 (-0.26%)
TOMCL 35.40 Decreased By ▼ -0.01 (-0.03%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.08 Decreased By ▼ -0.33 (-2.01%)
TRG 52.60 Decreased By ▼ -0.69 (-1.29%)
UNITY 26.37 Increased By ▲ 0.21 (0.8%)
WTL 1.25 Decreased By ▼ -0.01 (-0.79%)
BR100 9,953 Increased By 69.4 (0.7%)
BR30 30,908 Increased By 307.7 (1.01%)
KSE100 93,812 Increased By 456.3 (0.49%)
KSE30 29,062 Increased By 130.9 (0.45%)

The Federal Deposit Insurance Corp (FDIC) has hired Newmark Group Inc to sell about $60 billion of Signature Bank loans, the Wall Street Journal reported on Wednesday citing people familiar with the matter.

The commercial property market is likely to see a ripple effect from the sale of a loan book this large, at a time when property values are already being squeezed, the report added.

FDIC and Newmark Group did not immediately respond to Reuters’ requests for comment on the report.

US regulator sells failed Signature Bank assets to another lender

The U.S. banking industry has been reeling from the fallout of recent failures, with regulators seeking to reassure customers their deposits were safe and that the American banking system remained healthy.

Earlier this month, state regulators closed New York-based Signature Bank, making it the third largest failure in U.S. banking history.

On March 19, a subsidiary of New York Community Bancorp entered into an agreement with U.S. regulators to buy deposits and loans from Signature Bank.

Moody’s downgrades Signature Bank to junk, places six US banks under review

The subsidiary, Flagstar Bank, assumed substantially all of Signature Bank’s deposits, some of its loan portfolios and all 40 of its branches.

Comments

Comments are closed.