Credit Suisse is planning to place a rival bid for the portfolio of mortgage-backed securities (MBS) held by the Federal Reserve Bank of New York, Financial Times reports. The bonds are placed within Maiden Lane II, one of the special-purpose vehicles created as part of the AIG’s $180 billion rescue. Barclays and Morgan Stanley are also separately seeking groups of investors to counter AIG’s $15.7 billion offer for the securities. The New York Fed appointed BlackRock to manage the portfolio, adds Bloomberg.
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