We seem to pay attention only to safe harbor assets although it is important. How about the securitized assets?
I am curious to understand why you call the 40B of assets that the FDIC retained as SH assets? Can it be simple assets while the SH assets are in a different bucket? Because how can the FDIC seize SH assets to pay to bondholders? Bondholders are even lower than creditors, especially these are unsecured bondholders, and safe harbor assets are protected even from creditors?