Fed might auction mortgage bonds for which AIG bid

03/25/2011 | Wall Street Journal, The

American International Group this month bid $15.7 billion for a portfolio of subprime-mortgage bonds held by the Federal Reserve, which took on the securities in 2008 in a rescue of the insurer. The central bank is considering auctioning the bonds, sources said. Barclays Capital and Credit Suisse Group are considering counterbids for the portfolio, sources said.

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