Questions and Answers
Who can participate in a ¶à±¦ÓÎÏ·ÏÂÔØ securities auction?
"Prospective Bidders must complete the qualification process prior to being eligible to participate in a ¶à±¦ÓÎÏ·ÏÂÔØ securities auction. Generally, Prospective Bidders must qualify as an accredited investor (or qualified institutional buyer or qualified purchaser, as such terms are defined under the federal securities laws, depending on the transfer restrictions for the particular security being offered for sale).  "

Where can I find the terms and conditions of the sale?
The terms and conditions of a securities sale are disclosed in the transaction agreement or Bid Sheet materials associated with each sale. The ¶à±¦ÓÎÏ·ÏÂÔØ makes no representations or warranties in connection with any of the securities offered for sale. 

What types of securities does the ¶à±¦ÓÎÏ·ÏÂÔØ sell?
"The ¶à±¦ÓÎÏ·ÏÂÔØ may sell any type of security retained from a failure, including, but not limited to:"

United States Treasury securities
Federal agency securities 
Residential or commercial mortgage-backed securities
Other asset-backed securities
Public and private equity
"Corporate, municipal, and sovereign debt"
Structured finance instruments
"Limited partnership interests, including those typically associated with Community Reinvestment Act investments"
Tax credit investments
Bankers’ Bank stock

May Prospective Bidders review the underlying securities documents?
"The ¶à±¦ÓÎÏ·ÏÂÔØ encourages Prospective Bidders to complete document reviews and to perform their own due diligence of the securities offered for sale. To conduct an online review of the securities documents, Prospective Bidders must complete all qualification materials prior to receiving permission to access the data room. Once qualified, Prospective Bidders will have read-only access to the documents within the data room for the duration of the sale. Final documentation will be made available for download to the winning Bidder within a reasonable time after sale settlement."

Is a security deposit required to bid?
"Typically, the ¶à±¦ÓÎÏ·ÏÂÔØ does not require a security deposit from qualified bidders in order to bid in a securities sale. However, the ¶à±¦ÓÎÏ·ÏÂÔØ, in its full discretion, can require a security deposit for any sale. "
"For some securities sales, the ¶à±¦ÓÎÏ·ÏÂÔØ may require that an Earnest Money Deposit (generally in an amount not to exceed 10% of the winning bid amount) be paid by the winning Bidder, which will be applied toward the purchase price. "

How are securities sales settled?
"Settlement will occur on the settlement date listed in either the Bid Sheet or transaction agreement, which will vary depending on the security type. ¶à±¦ÓÎÏ·ÏÂÔØ uses a delivery versus payment (DVP) settlement method, which requires payment to be made before the delivery of the securities to the winning Bidder. "

How are securities sales advertised?
"Generally, securities sales are not advertised and individual securities owned by the ¶à±¦ÓÎÏ·ÏÂÔØ as receiver are not publicly listed. Prospective Bidders may be notified by ¶à±¦ÓÎÏ·ÏÂÔØ or a financial advisor via e-mail of an upcoming auction and can review securities offered for sale after completing the bidder qualification process."