NY Fed sells off last of Maiden Lane II assets

Tue Feb 28, 2012 10:11pm GMT

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Feb 28 (Reuters) - The Federal Reserve Bank of New York on Tuesday said it has sold off the last of the crisis-era Maiden Lane II portfolio, generating a net gain for taxpayers of $2.8 billion.

The New York Fed said the last sale, for assets with a current face amount of $6 billion, was to Credit Suisse.

The Maiden Lane II portfolio was created to absorb risky mortgage securities acquired in the government's 2008 rescue of insurer American International Group Inc. (Reporting By Ben Berkowitz; Editing by Leslie Adler)

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