Maiden Lane Transactions refers to three limited liability companies created by the Federal Reserve Bank of New York in 2008 as a financial vehicle to facilitate transactions involving three entities: the former Bear Stearns company as the first entity, the lending division of the former American International Group (AIG) as the second, and the former AIG's credit default swap division as the third. The name Maiden Lane was taken from a street which runs beside New York Federal Reserve in Manhattan. On June 14, 2012, the Federal Reserve Bank of New York announced that its loans to Maiden Lane LLC (ML LLC) and Maiden Lane III LLC (ML III LLC) have been fully repaid with interest. The original amounts of these loans were $28.82 billion and $24.3 billion respectively. Maiden Lane II LLC repaid all of its obligations earlier this year.
Other articles related to "maiden lane transactions, maiden lane":
... Maiden Lane III LLC aims to purchase these multi-sector CDOs in order to provide a cap on AIG's collateral payments ... Bank of New York began extending credit to Maiden Lane III LLC. 23, 2012, the Federal Reserve announced that Maiden Lane III had sold the last of its AIG portfolio that day ...
Famous quotes containing the words maiden and/or lane:
“That is the man all tattered and torn
That kissed the maiden all forlorn”
—Mother Goose (fl. 17th18th century. The House That Jack Built (l. 2930)
“Making the best of things is ... a damn poor way of dealing with them.... My whole life has been a series of escapes from that quicksand [ellipses in source].”
—Rose Wilder Lane (18861968)