UPDATE 1-NY Fed accepting bids for more Maiden Lane III assets
NEW YORK May 4 (Reuters) - The Federal Reserve Bank of New York is accepting bids from nine broker-dealers in an attempt to sell off more of the risky assets it acquired in the 2008 bailout of giant U.S. insurer American International Group .
The regional Fed bank said on Friday it had initiated a competitive bidding process for the collateralized debt obligations (CDOs) in its Maiden Lane III portfolio.
Last week, Barclays Capital and Deutsche Bank submitted winning bids for other assets in the portfolio. The New York Fed started exploring the sale of the assets last month "in light of improving market conditions."
The Fed bank made the move "in response to several strong reverse inquiries" for holdings in the two Triaxx CDOs in the portfolio, it said. Bids will be due on May 10.
Units of Barclays, Citigroup Inc, Credit Suisse AG , Deutsche Bank, Goldman Sachs Group Inc, Bank of America, Morgan Stanley, Nomura, and Royal Bank of Scotland were invited to submit bids, the New York Fed said, based on expressions of interest.
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