The Federal Reserve Bank of New York just announced that it has sold the entirety of the MAX CDO holdings from its Maiden Lane III LLC (ML III) portfolio to Barclays Capital and Deutsche Bank Securities following a competitive bid process.

The New York Fed decided to move forward with the deal only after knowing that the winning bid represented good value for the public. This transaction considerably lessens the ML III portfolio and loan at a desirable price, according to the Fed announcement.

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