Lede

The FDIC has hired BlackRock's Financial Market Advisory to sell securities portfolios valued at $27 billion and $87 billion, which were retained in receivership after the collapse of Signature Bank and Silicon Valley Bank.

Summary

• BlackRock's unit, Financial Market Advisory, has been hired by the FDIC to sell securities portfolios from failed banks
• The portfolios are valued at $27 billion and $87 billion, and were retained in receivership after the collapse of Signature Bank and Silicon Valley Bank
• The FDIC also recently announced the marketing process for a $60 billion loan portfolio retained in receivership following the failure of Signature Bank
• The securities portfolios primarily consist of agency mortgage-backed securities, collateralized mortgage obligations, and commercial mortgage-backed securities
• The collapse of Signature Bank and SVB triggered a banking crisis, resulting in heavy volatility in the sector and worsening concerns of an imminent recession