Reuters: Economic News: Fed mulls Maiden Lane III asset sales

Reuters: Economic News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Fed mulls Maiden Lane III asset sales Apr 4th 2012, 20:04 NEW YORK | Wed Apr 4, 2012 3:07pm EDT NEW YORK (Reuters) - The Federal Reserve is considering possible sales of assets from its Maiden Lane III portfolio, which was created during the bailout of insurer American International Group (AIG) (AIG.N), a New York Federal Reserve spokesman said on Wednesday. Maiden Lane III grew out of the purchase of $29.3 billion in collateralized debt obligations from certain counterparties to an AIG unit. Back in February, the Fed completed the sale of all the remaining securities from its Maiden Lane II portfolio, which had $20.5 billion worth of mortgage-backed bonds owned by several AIG insurance subsidiaries. "The change in the investment objective for ML III reflects a strategic decision to explore possible sales of some of the assets in the portfolio in light of improving market conditions and the success of the ML II sales. The Fed will only transact if it deems that a particular transaction represents good value, is done competitively and is not market disruptive," a Fed spokesman said in a statement.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions