[ConservativeMind]

I disagree. No bank buys loans at a fire sale without a discount.

This is a great return, compared with other banks during bad times.

[PGR88]

The first list, a roughly $292 million parcel of agency mortgage-backed securities with coupons of about 2.5% to 3%

The buyers are not buying a 2nd hand piece of equipment from a specialized manufacturing company that's gone bust. These are very liquid assets - effectively backed by Fed.gov. There is a very large market for them.

My point is - the fact that SVB was loaded up with perfectly good bonds, that had declined 15% of value - is the reason they went bankrupt.

How many other banks have the same problem on their balance sheets?

[CurlyDave]

...I disagree. No bank buys loans at a fire sale without a discount...

It is really too early to tell. If I were selling those assets, I would sell the best ones first, to pump up the offering prices for the dogs and cats that go on the block later.

This was only the first very small batch of a whole lot more to come.