Advisory service firm AgFe, set up by former Morgan Stanley employees, is looking to place a €820 million ($1.38 million) bid list on behalf of either the European Central Bank (ECB) or the Bundesbank, according to market reports.

The bid list features Dutch nonconforming RMBS deals originated by Lehman Brothers subsidiaries and structured when the European ABS market had already collapsed. The bonds were repoed with the ECB by Lehman prior to going bankrupt.

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