AIG’s Bond Buyback May Bring Billions in Benefits: Chart of Day
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American International Group Inc. stands to reap billions of dollars in benefits from its bid to repurchase mortgage-backed bonds from the Federal Reserve, according to Wells Fargo Securities.
AIG’s shares rose as much as 3.6 percent in late trading yesterday after the insurer disclosed its offer for the assets of Maiden Lane II, a fund that the Fed created during the 2007-2009 financial crisis as part of a rescue program.