The Federal Reserve Bank of New York has sold the final securities in its Maiden Lane portfolio, created in the wake of Bear Stearns’s near-collapse during the global financial crisis.
On September 18, the New York Fed said it had sold the final securities in transactions conducted over the last two weeks. The action was taken almost exactly 10 years on from the peak of the crisis.
Maiden Lane was a financial vehicle created to support JP Morgan’s merger with Bear Stearns in mid-2008. It was