FDIC to Hold Workshops on How to Buy Assets from Failed Banks

The Federal Deposit Insurance Corp. is planning a series of workshops for investors who would like to buy assets from failed financial institutions.

The half-day sessions, which start Thursday in Chicago, will cover the process of qualifying for the FDIC's structured sales program, which lets eligible buyers bid for assets the FDIC has claimed via receivership.

As part of the program, the FDIC forms partnerships with winning bidders, who can buy a minority stake in the venture and share proportionally in any appreciation.

"The workshops are an example of our commitment to ensure that the structured sales transaction process is inclusive of all firms, large and small," Pamela Farwig, the FDIC's deputy director for resolutions and receiverships, said Friday in a news release.

Workshops, which also will take place in Los Angeles on Oct. 2 and New York City on Oct. 16, run from 8:00 a.m. to 1:00 p.m. local time.

The FDIC is urging all investors to attend the sessions, which also are expected to include details about the agency's program to match asset managers with small, minority- and women-owned businesses.

Investors can register for the workshops via the FDIC's website.