Federal Reserve Bank of NY has announced that it is going to complete the financing of Bear Stearns's acquisition by JP Morgan by the end of next month (recently shareholders of Bear Stearns have approved investment bank's sale to JP Morgan for $2.3 billion) & also finish portfolio valuation of the investment bank.
NY Fed is making operational arrangements which will be necessary for successful transfer of the portfolios. The portfolio of assets will be properly managed so that recovery value is maximized & disruption in financial markets is minimized.
Friday, May 30, 2008
Acquisition of Bear Stearns by JPMorgan
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