The Federal Reserve Bank of New York has raised $1.33 billion through the sale of AIG mortgage securities it bought in 2008, The Wall Street Journal reports. The New York Fed, working through a unit of BlackRock, offered $1.5 billion of the securities.
It sold 42 of 52 bonds on offer this week. The Fed is selling its securities in blocks, after rejecting a $15.7 billion offer from AIG to repurchase all the securities in Maiden Lane II.
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