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Credit Suisse Plans Bid For MBS Portfolio

Credit Suisse is planning to place a rival bid for the portfolio of mortgage-backed securities held by the Federal Reserve Bank of New York.

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 MorganStanley 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.

Click here for the story from Financial Times.

Click here for additional coverage from Bloomberg.

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