FDIC To Sell CMBS In December Or January, WSJ Reports

The Federal Deposit Insurance Corp. (FDIC) is expected to securitize and sell failed banks' commercial real estate loans later this year or early next year. According to The Wall Street Journal, the securities will be backed by at least $500 million of performing commercial mortgages.

The loans will be smaller in size than those that typically back securities issued by Wall Street, the report says, citing sources familiar with the matter.

SOURCE: Wall Street Journal

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