The Federal Deposit Insurance Corporation (FDIC) issued a statement on April 5, saying that as the receiver of Signature Bank and Silicon Valley Bank, it will sell the securities portfolios of the two institutions, with a face value of approximately US$27 billion and US$87 billion respectively, including agency mortgage-backed securities, mortgage-backed bonds and commercial mortgage-backed securities. The FDIC said it has hired BlackRock Financial Market Advisory to conduct portfolio sales, which will be gradual and designed to minimize the possibility of any adverse effects on market operations by considering daily liquidity and trading conditions. (Planet Daily)