WALL STREET – The FDIC, holdings billions of dollars in assets from failed banks, plans to float $1.8 billion of bonds backed by assets of the failed institutions and guaranteed by the federal government.
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If successful the debt sale could prove as a model for similar sales by NCUA, which is holding hundreds of millions of dollars in assets from failed credit unions.
The FDIC offering will be backed by residential mortgage assets of failed banks seized by the banking regulator.
