This afternoon the New York Federal Reserve told dealers that it does not anticipate any further auctions of its Maiden Lane II (ML II) portfolio in the near term.

A New York Fed spokesperson said: "Given prevailing market conditions for non-agency RMBS, we do not anticipate any sales of bonds in the near term or until such time as the New York Fed deems it will achieve value for the public.  At such time, the New York Fed through BlackRock Solutions, as investment manager, may resume the sale of securities from the ML II portfolio individually and in segments over time as market conditions warrant through a competitive sales process. There will be no fixed timeframe for the sales."

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