NU Online News Service, March. 11, 3:41 p.m. EST
American International Group has offered to buy mortgage-backed securities held by the Federal Reserve Bank of New York for $15.7 billion.
The high-yield instruments, backed by residential mortgages, were held before the fall of 2008 in AIG's life subsidiaries and sold to the FRBNY to increase liquidity when the company was struggling to stay in business.
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