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The Federal Reserve Bank of New York announced late Wednesday that it is exploring the sale of collateralized debt obligations originally owned by AIGs troubled Financial Products Group.

The Federal Reserve Bank of New York announced late Wednesday that it is exploring the sale of collateralized debt obligations originally owned by AIGs troubled Financial Products Group.

The Federal Reserve Bank of New York today ended one chapter from the American International Group bailout, selling a group of mortgage-backed securities that closed out its Maiden Lane II facility.

The market is apparently strengthening for the risky residential mortgage-backed securities purchased by the Federal Reserve Board in early 2009 as part of its bailout of American International Group.

Key milestones in the battle for Transatlantic, presented in a timeline. Alleghany Corp. and Transatlantic have agreed on a $3.4 billion cash-and-stock deal.

European insurers, on the front line of the region's sovereign debt crisis because of their big exposure to distressed Italian bonds, will be forced to share losses with customers and rely on regulators to be lenient if Italy reneges on its debt.

European insurers are financially robust and unlikely to require injections of fresh capital, barring an Italian sovereign default or break-up of the single currency area, analysts said.

European insurers are financially robust and unlikely to require injections of fresh capital, barring an Italian sovereign default or break-up of the single currency area, analysts said.