FDIC Announces Nashville, TN and Dallas, TX Asset Purchaser/Investor Outreach Workshops

Press Release

FDIC Announces Nashville, TN and Dallas, TX Asset Purchaser/Investor Outreach Workshops

FOR IMMEDIATE RELEASE July 23, 2012

Media Contact: LaJuan Williams-Young (202)-898-3876 Email: lwilliams-young@fdic.gov

 

The FDIC announced a series of outreach workshops to provide information on how to become an FDIC Investor and/or Asset Purchaser. The FDIC is responsible for efficiently disposing of assets from failed banks in the most cost-effective manner possible. The FDIC has assets from failed banks available for acquisition by depository institutions, investors and asset purchasers. Some of these assets have been designated for inclusion in structured sales.

To ensure a diversity of participation in the structured sales program, the FDIC welcomes and strongly encourages minority- and women-owned investors and asset managers to participate and/or partner in bidding on the equity interests sold to investors under the program.

"Our outreach workshops have been met with tremendous enthusiasm by investors. The workshops are an example of our commitment to ensure that the structured sales transaction process is inclusive of all firms large and small. We believe that expanding the investor pool will assist in minimizing losses to the Deposit Insurance Fund (DIF)", said Pamela Farwig, Deputy Director, Division of Resolutions and Receiverships.

The FDIC welcomes all potential investors, especially small and minority- and women-owned investors to register for the workshops. The half day workshops will cover how structured transactions are created and operated, the pre-qualification process, details about the Small Investor Program and Investor Match Program, how to participate in cash loan sales and ORE sales, and a discussion about the transactional documents necessary to bid. The workshop dates are as follows:

When:	Tuesday, August 7, 2012
Where:	TBD Nashville, Tennessee
Time:	8:00 AM – 1:00 PM

To reserve a space in Nashville, please register at https://www.thinkreg.com/coral/register.do?formId=NF1BLC624QV6 by Friday, August 3, 2012.

When:	Thursday, August 9, 2012
Where:	TBD Dallas, Texas
Time:	8:00 AM – 1:00 PM

To reserve a space in Dallas, please register at https://www.thinkreg.com/coral/register.do?formId=NF1BLNT2D5RI by Monday, August 6, 2012.

WHO SHOULD ATTEND?

Small and Minority and Women-Owned businesses such as equity managers, fixed income managers, hedge fund managers, private equity firms, real estate funds, broker dealers, other financial service investors and asset purchasers, and firms seeking to partner with Minority and Women-Owned businesses.

LIMITED SEATING:

To reserve a space at the Nashville or Dallas seminars, please register now. The workshops are FREE of charge.

Information regarding the locations for the two workshops will be included with the registration information.

QUESTIONS CALL:

Velda Fludd (703) 562-6071 – Office of Minority and Women Inclusion, Arlington, Virginia

Kay Simon (703) 562-2698 – Office of Minority and Women Inclusion, Arlington, Virginia

These events are being sponsored by the FDIC Office of Minority & Women Inclusion, and the Division of Resolutions and Receiverships.

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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 7,309 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-87-2012

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