New York Fed RMBS sales go smoothly

Paul Jablansky, RBS

The Federal Reserve Bank of New York is said to be pleased with the outcome of auctions to dispose of assets from Maiden Lane II – a special-purpose vehicle consisting of non-agency residential mortgage-backed securities (RMBSs) originally purchased from insurer American International Group (AIG).

“The bids have been very good so far and a high proportion of securities have been sold, so things are going well,” says a source close to the New York Fed.

Maiden Lane II took on around 800 distressed