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Special Investments Management
Roseann Stichnoth (bio)
Executive Vice President
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In response to the financial crisis, the Federal Reserve Bank of New York, in its efforts to protect the U.S. economy and taxpayers, created certain special lending facilities to extend support to specific institutions and investors in key credit markets. The Special Investments Management Group (SIMG) is responsible for managing certain special lending facilities created during the financial crisis. The Group’s primary objective is full repayment of the Bank’s outstanding loans.

Investment Support Office
  • Responsible for the three Maiden Lane Facilities:  ML LLC, which was formed to facilitate the merger of Bear Stearns with JPMorgan Chase, and ML II LLC and ML III LLC, which were formed as part of the restructuring of the government’s financial support to AIG.
  • Along with its external service providers, the Investment Support office is responsible for monitoring and managing the facilities in order to fully repay the New York Fed’s outstanding loans to the LLCs.
Term Asset-Backed Loan Facility (TALF)
  • Responsible for monitoring the TALF loan portfolio collateralized by asset-backed securities (ABS) backed by auto loans, student loans, credit card loans, equipment loans, floorplan loans, insurance premium finance loans, loans guaranteed by the Small Business Administration, residential mortgage servicing advances, or commercial mortgage loans.
  • Manages day-to-day operations, including the receipt of monthly principal and interest payments due to the New York Fed and TALF LLC as well as the processing of voluntary prepayments in order to realize full repayment of outstanding loans.
Special Investments Finance and Accounting
  • Responsible for accounting and financial reporting for the Maiden Lane LLCs and the TALF program as well as transparency reporting for these facilities.
Administration and Technology
  • Supports the administrative, technical, compensation and talent management needs of the SIMG organization.
  • Through information management and preservation, enables the timely and comprehensive response to internal and external inquiries and ensures documents are retained for historical record.