AIG Offers to Buy Back RMBS From N.Y. Fed For $15.7 Billion

Insurance giant American Int’l Group (AIG) offered on Thursday to pay $15.7 billion in cash to repurchase a portfolio of residential mortgage-backed securities, or RMBS, the U.S. government had taken off the insurer’s hands during the height of the financial crisis. The securities were acquired by the Federal Reserve Bank of New York [FRBNY] as [...]