(Reuters) – The Federal Reserve Bank of New York said on Thursday it has postponed the latest sale of mortgage-backed assets from the Maiden Lane III portfolio, which it acquired as part of a rescue package for the giant U.S. insurer AIG.
The Fed bank did not give a reason for the postponement, saying it will sell assets "only if the best available bid represents good value for the public."
Thursday had been the bid submission deadline for assets with a face value of $1.67 billion. Some seven broker-dealers took part in the auction for the collateralized debt obligations, or CDOs.
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