While the Federal Deposit Insurance Corp. successfully securitized failed-bank assets last week, helping it to off-load the detritus of recent collapses, it remains unclear whether the deal will accomplish another policy goal: helping reboot the private securitization market.

The FDIC announced late Friday that it had sold to private investors about $400 million of mortgage-backed securities, created from the loans of 16 failed banks. The investments are guaranteed by the agency.

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