Financial Asset Sales Qualification Process
If you are interested in participating in FDIC sales of Other Financial Assets (which include structured sales of loans and sales of securities), you will be required to meet certain criteria and to be qualified. Financial assets requiring pre-qualification include FDIC Structured Transactions and various types of security instruments owned by failed banks. The qualification process varies depending upon the type of transaction. The qualification process is described below with links to the relevant documents. To ensure a diversity of participation, the FDIC welcomes and strongly encourages minority- and women-owned investors and asset managers to participate and/or partner in bidding on portfolios of loans and other assets under the FDIC structured sales.
If you are interested in participating in sales of Other Financial Assets you can be pre-qualified by the FDIC through this process to receive materials regarding specific sales.
The pre-qualification process and related instructions are described here: Prospective Bidders Pre-Qualification Process.
In order to be pre-qualified by the FDIC, you must complete and return the following documents:
- A Pre-Qualification Request - PDF (Appendix 1),
- A Purchaser Eligibility Certification - Word (Appendix 2),
- A Potential Financial Assets Bidder Contact Form - PDF (Appendix 3),
Questions regarding the FDIC pre-qualification process should be directed to email@example.com.
For certain sales of Other Financial Assets, even if you have been pre-qualified (as described in Step 1), you will also be required to meet additional transaction-specific criteria. This qualification process, and the transaction-specific qualifications, may vary from transaction to transaction. For example, certain transactions will require you to have a higher net worth than is necessary for you to be pre-qualified (as described in Step 1).
As a general matter, however, a transaction-specific qualification process will require you to complete, to the satisfaction of the FDIC, and return (in accordance with instructions provided in connection with the transaction) a Qualification Request, a Purchaser Eligibility Certification and a Confidentiality Agreement.
In addition, in certain transactions, you will be required to make a monetary deposit (which may vary by transaction) before being provided access to transaction due diligence materials.
Questions regarding the transaction-specific qualification process should be directed to firstname.lastname@example.org or, if you have already received a transaction-specific announcement, to the financial adviser for that specific transaction.
For certain sales of Other Financial Assets (including partnerships and other structured transactions of loans), even if you have been pre-qualified (as described in Step 1) and qualified to receive transaction specific information (as described in Step 2), you will also be required to provide information regarding financial, managerial and legal matters by completing the Bidder Qualification Application - PDF in accordance with the instructions contained in the Application Guidance and Instructions - PDF.
Prospective bidders are also referred to the Bidder Qualification Application: Frequently Asked Questions - PDF for additional information regarding the Bidder Qualification Application.
This information will be used by the FDIC to determine whether you have the requisite financial resources and managerial capabilities to be a successful bidder and to ensure that your background (such as a recent bankruptcy or criminal conviction) would not make it inadvisable for the FDIC to allow you to participate in the transaction. Information made available in connection with a specific transaction will indicate whether this process is applicable to that transaction.
Questions regarding this transaction-specific qualification process should be directed to email@example.com or, if you have already received a transaction-specific announcement, to the financial adviser for that specific transaction.