The Federal Reserve Bank of New York today resumed its auction of Maiden Lane III's holdings in the Duke CDO. Bids are due on Thursday, May 24.
The New York Fed postponed the sale of the assets originally slated for May 17. In a statement, it said that it decided to postpone its auction of ML III's holdings in the Duke CDO after it became aware that there was additional information concerning the Duke CDO that had not been made available to the bidders.
From the onset of the Maiden Lane III portfolio sales, the Fed said that it had no fixed timeframe for future sales. The Fed also said that it would only sell assets if the best available bid represented good value, while taking appropriate care to avoid market disruption.
