Maiden Lane facilities
E560327
The Maiden Lane facilities were special-purpose vehicles created by the Federal Reserve during the 2008 financial crisis to acquire and manage troubled assets from failing financial institutions, particularly related to Bear Stearns and AIG.
Observed surface forms (3)
| Surface form | Occurrences |
|---|---|
| Maiden Lane II LLC | 1 |
| Maiden Lane III LLC | 1 |
| Maiden Lane LLC | 0 |
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
Federal Reserve emergency lending facilities
ⓘ
special-purpose vehicle ⓘ special-purpose vehicles ⓘ |
| acquiredBySupportOf | JPMorgan Chase NERFINISHED ⓘ |
| acquiredFrom |
AIG counterparties
ⓘ
AIG subsidiaries NERFINISHED ⓘ Bear Stearns NERFINISHED ⓘ |
| assetDisposition | assets were gradually sold off over time ⓘ |
| assetType |
collateralized debt obligations
ⓘ
derivatives and other illiquid assets ⓘ mortgage-related securities ⓘ residential mortgage-backed securities ⓘ |
| backedBy |
Federal Reserve loans
ⓘ
subordinate funding from counterparties ⓘ |
| createdBy |
Federal Reserve Bank of New York
NERFINISHED
ⓘ
Federal Reserve Bank of New York NERFINISHED ⓘ Federal Reserve Bank of New York NERFINISHED ⓘ Federal Reserve System NERFINISHED ⓘ |
| createdDuring |
2008 financial crisis
NERFINISHED
ⓘ
2008 financial crisis ⓘ 2008 financial crisis ⓘ 2008 financial crisis ⓘ |
| financialOutcome | Federal Reserve reported no loss on the facilities overall ⓘ |
| fundedBy |
equity from AIG
ⓘ
equity from AIG ⓘ loan from Federal Reserve Bank of New York ⓘ loan from Federal Reserve Bank of New York ⓘ loan from Federal Reserve Bank of New York ⓘ subordinated loan from JPMorgan Chase ⓘ |
| goal |
avoid disorderly failure of major financial institutions
ⓘ
limit systemic risk ⓘ |
| includes |
Maiden Lane II LLC
NERFINISHED
ⓘ
Maiden Lane III LLC NERFINISHED ⓘ Maiden Lane LLC NERFINISHED ⓘ |
| jurisdiction |
United States of America
ⓘ
surface form:
United States
|
| locatedAt | Federal Reserve Bank of New York balance sheet ⓘ |
| namedAfter |
Maiden Lane
NERFINISHED
ⓘ
street in Lower Manhattan, New York City ⓘ |
| operatedBy | Federal Reserve Bank of New York NERFINISHED ⓘ |
| purpose |
acquire and manage troubled assets
ⓘ
facilitate acquisition of Bear Stearns by JPMorgan Chase ⓘ purchase multi-sector collateralized debt obligations related to AIG ⓘ purchase residential mortgage-backed securities from AIG subsidiaries ⓘ support financial stability ⓘ |
| regulatoryFramework | Section 13(3) of the Federal Reserve Act ⓘ |
| relatedTo |
AIG
NERFINISHED
ⓘ
American International Group NERFINISHED ⓘ Bear Stearns NERFINISHED ⓘ |
| status | wound down after crisis period ⓘ |
Referenced by (3)
Full triples — surface form annotated when it differs from this entity's canonical label.
this entity surface form:
Maiden Lane II LLC
this entity surface form:
Maiden Lane III LLC