On April 20, the FDIC closed on two note offerings backed by performing and non-performing construction loans, residential loans and real estate owned (REO) assets formerly held by the FDIC as receiver for Corus Bank and Franklin Bank. These offerings are the second and third sales of structured sale notes by the FDIC since the early 1990s, and the second and third sale of FDIC guaranteed debt backed by the full faith and credit of the United States.  FDIC Release.