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Banks eye AIG toxic assets held by NY Fed - WSJ
Fri, 16th Mar 2012 06:21
March 16 (Reuters) - Several banks including Goldman Sachs have shown an interest in buying Am
The troubled assets, which are held by the Federal Reserve Bank of New York, are valued at about $47 billion at face value, the paper said. These toxic assets were acquired by New York Fed as a part of the AIG bailout at the height of the financial crisis.
Banks including Barclays PLC's Barclays Capital unit, Credit Suisse Group AG and Goldman Sachs are among the ones interested in buying the complex mortgage-backed assets at around their current market value, the Journal said, quoting people familiar with the matter.
A few interested buyers have approached the New York Fed about the collateralized debt obligations. However, the people told the paper that they do not yet expect any imminent sales.
None of the parties were immediately available for comment when contacted by Reuters.
(Reporting by Arpita Mukherjee in Bangalore; Editing by Matt Driskill) Keywords: AIG/
(arpita.mukherjee@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: arpita.mukherjee@thomsonreuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
erican International Group Inc's complex and troubled assets tied to the insurer's bailout, the Wall Street Journal said, citing people familiar with the matter.
The troubled assets, which are held by the Federal Reserve Bank of New York, are valued at about $47 billion at face value, the paper said. These toxic assets were acquired by New York Fed as a part of the AIG bailout at the height of the financial crisis.
Banks including Barclays PLC's Barclays Capital unit, Credit Suisse Group AG and Goldman Sachs are among the ones interested in buying the complex mortgage-backed assets at around their current market value, the Journal said, quoting people familiar with the matter.
A few interested buyers have approached the New York Fed about the collateralized debt obligations. However, the people told the paper that they do not yet expect any imminent sales.
None of the parties were immediately available for comment when contacted by Reuters.
(Reporting by Arpita Mukherjee in Bangalore; Editing by Matt Driskill) Keywords: AIG/
(arpita.mukherjee@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: arpita.mukherjee@thomsonreuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
