February 28, 2012 / 10:11 PM / 5 years ago

NY Fed sells off last of Maiden Lane II assets

1 Min Read

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.

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