New York Fed Plans $1.2 Billion of Auctions Tied to AIG Bonds
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The Federal Reserve Bank of New York plans to sell $1.2 billion of mortgage bonds this week tied to the U.S. rescue of American International Group Inc.
The New York Fed is conducting its second and third auctions of the debt, according to a posting on its website. It plans to seek bids on $691.3 million of bonds by April 13 and $534.1 million of securities with an April 14 deadline.