The Federal Deposit Insurance Corp. will hold a second conference call today to answer questions of investors considering participation in the Legacy Loans Program.
The call, scheduled for noon, succeeds the heavily attended call the agency held on March 26. This first call was meant for bankers interested in the program, but many other stakeholders listened in and asked questions as well.
An FDIC spokesman said the second call will focus on investors' questions but will not bar others from participating.
"Obviously, it is open to participation, and we may get questions that overlap, but we want to have an open call dedicated for each side," the spokesman said.
As part of the Treasury Department's financial rescue plan, the agency is overseeing auctions and guaranteed debt issuances to help private investors buy banks' troubled loans.
Under the Treasury's plan, the Federal Reserve Board is overseeing a similar public-private program to cleanse banks of their toxic asset-backed securities.
The FDIC's first call drew 2,700 participants and elicited questions such as whether banks would be forced to sell loans and whether they could invest in troubled assets as well.
The phone number is 1-888-790-3946; the conference code is 9857969, followed by the # sign.
