The Federal Deposit Insurance Corporation's (FDIC) postponed toxic whole loan purchase scheme under the Public-Private Investment Program (PPIP) may be edging closer, following the appointment of the firm that will operate a test run of how the asset purchase initiative would work.
The US deposit insurer yesterday named Residential Credit Solutions (RCS), a Fort Worth, Texas-based residential mortgage investment and servicing company, as the winning bidder in a pilot sale of receivership assets
- Regulators to scrutinise CCP default auctions
- People moves: Bank of America names new Apac chiefs, Wilkinson leaves LGIM, Lloyds loses Coutte, and more
- VAR surges, revenues tank at French banks hurt by volatility
- A rush on Libor fallbacks to head off holdouts
- Swaps data: SOFR volume and margin insights