The Federal Reserve Bank of New York is planning to sell $1.2 billion of mortgage bonds acquired from AIG, The Wall Street Journal reports. The Fed seeks bids for $691 million of bonds by April 13 and $534 million of securities by April 14. The bank, through a unit of BlackRock, sold $1.3 billion of the $1.5 billion bonds it had offered last week. The Fed earlier rejected a $15.7 billion offer from AIG to buy back all the securities in Maiden Lane II.

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