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Fed Rejects AIG Offer To Buy Back Securities

The Federal Reserve Board says it has rejected American International Group’s offer to buy back a package of securities it had sold the Fed when it needed cash in November 2008.

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The Federal Reserve Board says it has rejected American International Group’s offer to buy back a package of securities it had sold the Fed when it needed cash in November 2008.

The Fed says in a statement that because of improving market conditions for the types of securities held in the so-called Maiden Lane-II portfolio, “it has declined AIG’s offer to purchase all of the assets in Maiden Lane II.”

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