The Federal Reserve Bank of New York plans to sell $7 billion from its Maiden Lane III portfolio which will include assets from seven CDOs .

The Fed began accepting bids from a consortium of broker dealers on the newest CDOs it plans to sell from MLIII. The CDO included in next week's sale are Altius I Funding, LTD. and Altius II; Davis Square Funding II; Davis Square Funding III; Davis Square Funding IV; Davis Square Funding V and West Coast Funding I.

Bids on the Altius CDOs are due June 13 and bids for the rest of the CDOs will be due on June 15.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) , Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith , Morgan Stanley & Co. , RBS Securities Inc. will participate in all of the CDOs up for auction. Wells Fargo Securities  will also bid on all but the two Altius CDOs up on next Wednesday's auction.


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