The Federal Reserve declined American International Group’s offer to buy all of the assets in Maiden Lane II LLC (MLII), according to a release from the Fed.

Instead, the Federal Reserve Bank of New York (New York Fed) and the Board of Governors of the Federal Reserve System after careful review decided that  public interest would be better served by using an "alternative approach to realizing value," which is also more consistent with normal market practice, the release said.

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