Market conditions prompt New York Fed to halt AIG MBS sales

07/1/2011 | Bloomberg

The Federal Reserve Bank of New York suspended sales of mortgage-backed securities acquired from American International Group during the financial crisis. "Given prevailing market conditions" for MBS, "we do not anticipate any sales of bonds in the near term or until such time as the New York Fed deems it will achieve value for the public," wrote Jack Gutt, a spokesman for the New York Fed.

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