A summary of the pending loan sale transactions are as follows: $120 million of residential subprime loan assets on behalf of a Wall Street investment bank; $16.5-million nonperforming mezzanine loan pertaining to a condominium conversion project for a subsidiary of a top 15 bank holding company; $480-million commercial floating rate pool on behalf of a private finance company; $76 million of ...

Fed Expects Markets Will Take Days to Digest Discount-Rate Cut (Bloomberg.com)
Aug. 21 (Bloomberg) -- Federal Reserve policy makers don't expect to know for days whether their Aug. 17 discount-rate reduction will succeed at calming markets, Fed watchers say.