NEW YORK, May 10 (Reuters) – The New York Federal Reserve said on Thursday it sold all its TRIAXX collateralized debt obligations from a portfolio of assets that was used in the government bailout of insurer AIG to Merrill Lynch, following a competitive bid process with eight other Wall Street firms.
Terms of the sale of the assets from the portfolio known as Maiden Lane III were not disclosed, though the New York Fed did say the assets were sold at a profit.
Merrill, the broker-dealer unit of Bank of America, beat out Barclays Capital, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs , Morgan Stanley, Nomura and RBS Securities.
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