New York Fed Reportedly Plans New Maiden Lane II Auction

New York Fed Reportedly Plans New Maiden Lane II Auction The Federal Reserve Bank of New York has reportedly invited the securities units of five major banks to bid on a multibillion-dollar portfolio of subprime mortgage-based securities that were acquired during the 2008 bailout of American International Group Inc.

The Wall Street Journal, citing unidentified sources, reports that the auction covers half of the remaining bonds in the Maiden Lane II assets. The five financial services companies reportedly invited to bid are Barclays PLC, Credit Suisse Group AG, Goldman Sachs Group Inc., Morgan Stanley and Royal Bank of Scotland PLC.

The New York Fed's website makes no mention of an upcoming auction, and a spokesperson for the Fed would not comment on the Wall Street Journal's story.

LEAVE A REPLY

Please enter your comment!
Please enter your name here