BANKING & FINANCE - Sept. 10, 1992
From Times Staff and Wire Reports
RTC Auction Is Brisk: The federal Resolution Trust Corp. said it expects to reap about $240 million from the sale of non-performing loans in Los Angeles, an amount higher than the 50 cents on the dollar agency officials had expected. The loans, which had a book value of $416 million, were the RTC’s largest auction since the agency was created in 1989 to clean up the savings and loan mess. The loans, located in 45 states, included residential, commercial real estate and consumer loans.
