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New York Fed Sells Last Maiden Lane III Debt From AIG Rescue

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Aug. 23 (Bloomberg) -- The Federal Reserve Bank of New York said it sold the remaining securities in its Maiden Lane III LLC portfolio created to hold toxic debt assumed as part of the rescue of American International Group Inc.

The Maiden Lane III portfolio will result in a net gain for the public of about $6.6 billion, the New York Fed said in a statement today. The central bank’s loan to the facility was already repaid in June.

To contact the reporter on this story: Caroline Salas Gage in New York at csalas1@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net