Credit Suisse bets on US property market

Credit Suisse bets on US property market


The New York Federal Reserve said it has sold $7 billion in residential mortgage-backed assets acquired in its AIG bailout to Swiss bank Credit Suisse (CS), Swiss Info reported on 20 January.  

The New York Fed did not disclose the amount paid for the assets, part of a special portfolio created in the 2008 rescue of the American insurance and financial services company. The assets were sold through an auction, it said in a statement.  

Traders reckon that CS paid ...

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