Fed preps sale of AIG assets

The Federal Reserve Bank of New York is planning an auction of the mortgage-related securities it acquired as part of the crisis-era bailout of AIG.

The auction will be held next week, and will involve the remaining $6 billion in face value of securities in the Maiden Lane II portfolio. The Fed is seeking bids after receiving an unsolicited offer to buy the securities.

Read about the NY Fed’s previous auctions, and why they are selling down the portfolio.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.