BANKING & FINANCE - July 12, 1991
From Times Staff and Wire Reports
RTC Junk Holdings Drop: The savings and loan mop-up agency said it holds junk bonds with a face value of $4.2 billion, down from $5.4 billion in April. In the past year, the RTC said, it has sold $3.7 billion of the risky, high-yield bonds owned by thrifts the government seized. RTC officials said that since the agency was created in August, 1989, to deal with the S&L; mess, they have sold $5 billion of the bonds. Because of recent turmoil in junk bond markets, the actual market value of the bonds has been considerably less than face value.
