Cash-rich buyers snatching up banks' assets at huge discounts.
Los Angeles Business Journal › November 02, 1992
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Summary
Special Report: Banks and Finance - Industry Overview
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Extract
Cash-rich buyers snatching up banks' assets at huge discounts.
Banks, under pressure from federal regulators to reduce their holdings of nonperforming real estate loans and foreclosed properties, are selling such assets at heavy discounts to cash-rich opportunists.
The sell-off is being prompted by new Federal Deposit Insurance Corp. capital requirements that are scheduled to take effect Dec. 1...See the full content of this document
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