The Federal Deposit Insurance Corp. announced three shared-equity deals Tuesday for a total of $620 million in failed-bank assets.
In each deal, a limited-liability company was established to hold the failed-bank loans; the FDIC owns 60% of each venture, and the rest went to a winning bidder. Each company got leveraged financing from the FDIC. It has closed many of these types of transactions during the crisis to reduce the size of its receiverships.
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