New York Fed Seeks Bids for CDO Holdings in Maiden Lane III
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The Federal Reserve Bank of New York is seeking bids for parts of two collateralized debt obligations tied to real-estate debt, after acquiring the securities in the government rescue of American International Group Inc. in 2008.
The New York Fed invited nine broker-dealers including Barclays Plc, Credit Suisse Group AG and Goldman Sachs Group Inc. to compete for the so-called Triaxx CDOs held within its Maiden Lane III LLC portfolio, the district bank said today in a statement on its website. Bids will be due May 10.