Western Alliance, PacWest put $9.8bn of loans up for sale

- By Lorenzo Migliorato
- 05 May 2023

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Western Alliance Bank and PacWest Bancorp put $9.8 billion of their loans up for grabs in the first quarter to bolster liquidity – an alternative strategy to the bond-book fire sale that sparked the fatal run on Silicon Valley Bank.

Western Alliance reclassified $6 billion of loans to the held-for-sale (HFS) category, pre-emptively booking a $123 million charge from incurred and expected markdowns.

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