A new contractor to market failing financial institutions through a virtual data room (VDR) has been hired by the federal bank deposit insurance agency, it said Wednesday, beginning next month.
In a letter to banks (Financial Institution Letter (FIL) 11-2025), the Federal Deposit Insurance Corp. (FDIC) said it was changing the contractor from DFIN Solutions Venue to ShareVault VDR “for all new projects.”
According to the FDIC, a VDR is a secure web site (used by the agency since 2000) that the agency populates with information about failing insured institutions. The FDIC said it gives qualifying financial institutions access to the VDR, which helps those institutions determine their interest in purchasing a failing financial institution and evaluate the offering. Users must first sign a confidentiality agreement before they gain entry to the VDR, FDIC said.
The FDIC said it made the change after a competitive bidding process.
“Bidders familiar with the FDIC’s VDR process will find that the ShareVault folders and documents are similar to what has been used in the past,” the agency said in the FIL. “New bidders can email the FDIC for technical assistance.”
The agency advised banks using the VDR to set email spam filters so they will receive messages from ShareVault.net and FDIC.ShareVault.net. It also advised banks to ensure these Uniform Resource Locators (URLs) are accessible to their institutions.
FDIC Changes its Virtual Data Room Contractor for Marketing Failing Financial Institutions
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