New York Fed Plans $1.2 Billion of Auctions Tied to AIG Bonds

Monday, 11 Apr 2011 12:10 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

The Federal Reserve Bank of New York plans to sell $1.2 billion of mortgage bonds this week tied to the U.S. rescue of American International Group Inc.

The New York Fed is conducting its second and third auctions of the debt, according to a posting on its website. It plans to seek bids on $691.3 million of bonds by April 13 and $534.1 million of securities with an April 14 deadline. guaranteed by government-supported Fannie Mae and Freddie Mac.

The Fed is selling the securities, after saying March 31 that it refused an offer from New York-based AIG to buy back the entire pool for $15.7 billion. The current balance of the investments had totaled about $31 billion, according to the insurer’s disclosures.

© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved