The New York Federal Reserve has sold around $1.122 billion out of $1.43 billion from its fourth Maiden Lane II bid list of AIG’s legacy non-agency residential mortgage-backed securities (RMBS), Reuters reports. The Fed’s last bid list submission consisted of eight bonds with a face value of $534 million on April 14. The Fed is auctioning off the $30 billion Maiden Lane II portfolio in blocks after rejecting a bid of $15.7 billion from AIG. BlackRock Solutions has been appointed by the Fed to arrange the auctions.
Click here for story from Reuters.