The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
Regional & Community Outreach connects the Bank to Main Street via structured dialogues and two-way conversations on small business, mortgages, and household credit.
Economic Education improves public knowledge about the Federal Reserve System, monetary policy implementation, and promoting financial stability through the Museum and programs for K-16 students and educators, and the community.
On March 30, 2011, the New York Fed announced that through its investment manager, BlackRock Solutions, it would begin a process to sell the assets in the ML II portfolio both individually and in segments over time as market conditions warrant through a competitive sales process.
This table is updated as bid list information and results are released.
1Current face amount represents the most recent balance of principal outstanding on the assets and should not be confused with market value or the price ML II paid to acquire the assets. At October 31, 2008 inception, the ML II LLC paid $20.5 billion for the portfolio of assets with a face amount of approximately $39.3 billion.
As part of the close-out procedures for Maiden Lane II LLC, on August 22, 2012, the New York Fed sold eight residual securities that had been factored to zero and consequently dropped from the portfolio holdings report (published by the New York Fed). There was no active notional balance associated with these positions as the bonds were fully written down prior to the last ML II auction on February 28, 2012; thus this sale had no material impact on the net gain reported for the ML II portfolio.