Moving one step closer to placing the recently government-seized NextCard credit card portfolio, Banc One Capital Markets has accepted bids and narrowed the field to a reported four to six potential suitors for both the securitized and unsecuritized portions, including servicing rights. An announcement is expected by the end of April.

As previously reported, the Federal Deposit Insurance Corp., appointed by the Office of the Comptroller of the Currency to run the bank in the interim, has retained the services of key staffers that were laid off when the bank went into receivership. Also, Automated Management Services Co. has been hired as backup servicer, in order to prevent any disruptions in servicing once a buyer is found.

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