The Federal Reserve Bank of New York has sold $7.014 billion worth of assets from its Maiden Lane II (ML II) portfolio via a competitive process to Credit Suisse.

The Fed kept the market guessing prior to this sale. Walter Schmidt, senior vice president in  structured product strategies at FTN Financial, called the $7 billion bid list from ML II one of the market's "worst-kept secrets."

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.