NY Fed Reserve Postpones $1.7B Maiden Lane Auction

Law360, New York (May 18, 2012, 7:40 PM EDT) -- The Federal Reserve Bank of New York postponed Thursday's sale of $1.7 billion worth of Maiden Lane mortgage-backed securities left over from American International Group Inc.'s 2008 implosion, according to an announcement Friday.

The reserve bank offered little explanation for canceling the sale, saying only that it “became aware that there was additional information concerning” the collateralized debt obligations that were set to be auctioned off. Since that information “had not been made available to the bidders,” the bank would postpone bidding, the Federal Reserve said...
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