{"entity":{"id":614,"slug":"federal-reserve-bank-of-new-york","name":"Federal Reserve Bank of New York","type":"institution","role":"Managing member and consolidating entity of Maiden Lane LLC","description":null,"imageUrl":null,"createdAt":"2026-04-08T20:00:29.612Z","updatedAt":"2026-05-19T09:20:04.132Z"},"electedOffice":null,"significance":{"score":9,"components":{"totalFindings":0,"connectionDegree":8,"recentFindings90d":0,"activeResearchJobs":0,"goblinAttributions":1,"recentSyntheses90d":0,"moneyFlowChainsTotal":0,"closedLoopMemberships":0,"moneyFlowHopsRecent90d":0},"computedAt":"2026-10-17T01:36:44.127Z"},"facts":[{"id":34264,"text":"The FRBNY required BlackRock to provide daily reports of inventory, trades, and risk assessments for the SMCCF using BlackRock's Aladdin platform.","confidence":"primary","dateOccurred":"2020-03-27","source":{"title":"Terms of Assignment for BlackRock on Behalf of the Federal Reserve Bank of New York Regarding Secondary Market Corporate Credit Facility","url":"[https://www.newyorkfed.org/medialibrary/media/markets/special_facilities/SMCCF_Terms_BlackRock.pdf](https://www.newyorkfed.org/medialibrary/media/markets/special_facilities/SMCCF_Terms_BlackRock.pdf)","publication":"Federal Reserve Bank of New York"}},{"id":34263,"text":"The FRBNY retained BlackRock Financial Markets Advisory as a third-party vendor to serve as the investment manager for the SMCCF.","confidence":"primary","dateOccurred":"2020-03-24","source":{"title":"Terms of Assignment for BlackRock on Behalf of the Federal Reserve Bank of New York Regarding Secondary Market Corporate Credit Facility","url":"[https://www.newyorkfed.org/medialibrary/media/markets/special_facilities/SMCCF_Terms_BlackRock.pdf](https://www.newyorkfed.org/medialibrary/media/markets/special_facilities/SMCCF_Terms_BlackRock.pdf)","publication":"Federal Reserve Bank of New York"}},{"id":34262,"text":"During the 2020 pandemic, the FRBNY established the Secondary Market Corporate Credit Facility (SMCCF) and financed a special purpose vehicle called Corporate Credit Facilities LLC.","confidence":"primary","dateOccurred":"2020-03-23","source":{"title":"Secondary Market Corporate Credit Facility","url":"[https://www.newyorkfed.org/markets/secondary-market-corporate-credit-facility](https://www.newyorkfed.org/markets/secondary-market-corporate-credit-facility)","publication":"Federal Reserve Bank of New York"}},{"id":34261,"text":"The FRBNY created Maiden Lane LLC in 2008, extending a $28.82 billion loan to facilitate JPMorgan Chase's takeover of Bear Stearns by purchasing approximately $30 billion of its assets.","confidence":"primary","dateOccurred":"2008-04-29","source":{"title":"Maiden Lane Transactions","url":"[https://www.newyorkfed.org/markets/maidenlane.html](https://www.newyorkfed.org/markets/maidenlane.html)","publication":"Federal Reserve Bank of New York"}},{"id":16122,"text":"Search scope note: No usaspending contracts found for \"Federal Reserve Bank of New York\" in automated database search as of 2026-04-13. This reflects search coverage limits, not confirmed absence from public record.","confidence":"secondary","dateOccurred":null,"source":null}],"connections":[{"id":9700,"relationshipType":"crisis_manager","description":"Managed toxic assets and bailout programs during 2008 crisis","confidence":"confirmed","firstDocumented":null,"lastDocumented":null,"other":{"id":25,"name":"BlackRock","slug":"blackrock","type":"company"}},{"id":9678,"relationshipType":"contractor","description":"The NY Fed enlisted BlackRock via no-bid contracts during both the 2008 financial crisis and the 2020 COVID pandemic to manage distressed securities, value toxic assets, and purchase corporate bonds. These contracts drew scrutiny over conflicts between BlackRock's advisory role and its own investment business.","confidence":"confirmed","firstDocumented":null,"lastDocumented":null,"other":{"id":159,"name":"Larry Fink","slug":"larry-fink","type":"person"}},{"id":1155,"relationshipType":"contractor","description":"FRBNY contracted BlackRock as investment manager and due diligence advisor for Maiden Lane operations","confidence":"confirmed","firstDocumented":null,"lastDocumented":null,"other":{"id":615,"name":"BlackRock Financial Management, Inc.","slug":"blackrock-financial-management-inc","type":"company"}},{"id":1149,"relationshipType":"special purpose vehicle","description":"Created and consolidated by FRBNY as crisis intervention vehicle","confidence":"confirmed","firstDocumented":null,"lastDocumented":null,"other":{"id":33,"name":"Maiden Lane LLC","slug":"maiden-lane-llc","type":"instrument"}},{"id":1007,"relationshipType":"department","description":"Specialized staff office created to oversee all Maiden Lane LLC asset management","confidence":"confirmed","firstDocumented":null,"lastDocumented":null,"other":{"id":624,"name":"Investment Support Office","slug":"investment-support-office","type":"government_agency"}},{"id":998,"relationshipType":"managing_member","description":"FRBNY serves as managing member and consolidates Maiden Lane LLC","confidence":"confirmed","firstDocumented":null,"lastDocumented":null,"other":{"id":33,"name":"Maiden Lane LLC","slug":"maiden-lane-llc","type":"instrument"}},{"id":21033,"relationshipType":"sponsor/creator","description":"The Maiden Lane entities (Maiden Lane I, II, III) were Special Purpose Vehicles created by the Federal Reserve Bank of New York in 2008 to acquire troubled assets. This trust name suggests it was one of those vehicles, likely holding asset-backed securities from the Bear Stearns portfolio.","confidence":"inferential","firstDocumented":"2008","lastDocumented":null,"other":{"id":618,"name":"Maiden Lane Asset Backed Securities I Trust 2008-1","slug":"maiden-lane-asset-backed-securities-i-trust-2008-1","type":"instrument"}},{"id":19402,"relationshipType":"potential fiscal year alignment","description":"The 9-month gap in DOGE's SEC filings aligns with federal fiscal year transitions, which involve Treasury and Federal Reserve budget operations, though no direct filing relationship is established.","confidence":"inferential","firstDocumented":"2025","lastDocumented":null,"other":{"id":91,"name":"Department of Government Efficiency (DOGE)","slug":"department-of-government-efficiency-doge","type":"instrument"}},{"id":19287,"relationshipType":"District/constituency connection","description":"The New York Fed is located in Schumer's state; he has legislative oversight of monetary policy institutions.","confidence":"inferential","firstDocumented":"1999","lastDocumented":null,"other":{"id":7826,"name":"Chuck Schumer","slug":"chuck-schumer","type":"elected_official"}},{"id":16849,"relationshipType":"Temporal correlation (non-participant)","description":"Clarium's 2008 short positions on housing assets occurred contemporaneously with federal emergency interventions by the Federal Reserve, but no documented evidence indicates Clarium received direct federal support.","confidence":"inferential","firstDocumented":"2008","lastDocumented":null,"other":{"id":31,"name":"Clarium Capital","slug":"clarium-capital","type":"company"}},{"id":13805,"relationshipType":"bailout_recipient","description":"Bear Stearns Bank Plc's managed portfolio through Liquid Funding Ltd. was part of the assets backstopped by the Federal Reserve's $28.82 billion Maiden Lane LLC loan — a publicly-funded rescue.","confidence":"inferential","firstDocumented":"2008","lastDocumented":null,"other":{"id":379,"name":"Bear Stearns Bank Plc","slug":"bear-stearns-bank-plc","type":"company"}},{"id":17254,"relationshipType":"oversight","description":"Henry Paulson coordinated with the Federal Reserve Bank of New York (led by Timothy Geithner) on the bailout of Bear Stearns and other crisis interventions.","confidence":"primary","firstDocumented":"2008","lastDocumented":null,"other":{"id":155,"name":"Henry Paulson","slug":"henry-paulson","type":"person"}},{"id":17233,"relationshipType":"Employment","description":"Timothy Geithner served as President and Chief Executive Officer of the Federal Reserve Bank of New York from 2003 to 2009.","confidence":"primary","firstDocumented":"2003","lastDocumented":null,"other":{"id":153,"name":"Timothy Geithner","slug":"timothy-geithner","type":"person"}},{"id":16633,"relationshipType":"oversight","description":"Warren's TARP oversight panel investigated the New York Fed's role in the AIG bailout and its oversight of financial institutions.","confidence":"primary","firstDocumented":"2009","lastDocumented":null,"other":{"id":2251,"name":"Elizabeth Warren","slug":"elizabeth-warren","type":"elected_official"}},{"id":16457,"relationshipType":"facilitated takeover via loan","description":"The FRBNY's creation of Maiden Lane LLC and $28.82 billion loan facilitated JPMorgan Chase's takeover of Bear Stearns.","confidence":"primary","firstDocumented":"2008","lastDocumented":null,"other":{"id":150,"name":"JPMorgan Chase","slug":"jpmorgan-chase","type":"company"}},{"id":13834,"relationshipType":"administered_by","description":"The Primary Dealer Credit Facility (PDCF) was administered by the Federal Reserve Bank of New York as part of emergency lending facilities during the 2008 financial crisis.","confidence":"primary","firstDocumented":"2008","lastDocumented":null,"other":{"id":390,"name":"Primary Dealer Credit Facility (PDCF)","slug":"primary-dealer-credit-facility-pdcf","type":"institution"}},{"id":12558,"relationshipType":"bailout_organizer","description":"The Federal Reserve Bank of New York organized the 1998 rescue of Long-Term Capital Management, coordinating 14 banks to inject $3.6 billion.","confidence":"primary","firstDocumented":"1998","lastDocumented":null,"other":{"id":9466,"name":"Long-Term Capital Management","slug":"long-term-capital-management","type":"company"}},{"id":11641,"relationshipType":"contractor","description":"State Street Corporation contracted with the Federal Reserve Bank of New York (FRBNY) to provide services for Maiden Lane LLC.","confidence":"primary","firstDocumented":"2008","lastDocumented":null,"other":{"id":616,"name":"State Street","slug":"state-street","type":"company"}},{"id":11446,"relationshipType":"contractor","description":"FRBNY engaged Aladdin (via BlackRock's FMA division) to value Maiden Lane I, II, and III portfolios in 2008 and to manage corporate bond purchases in 2020. 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This was the first time the Fed had extended emergency credit to facilitate the rescue of a non-bank financial institution.","confidence":"primary","firstDocumented":null,"lastDocumented":null,"other":{"id":8820,"name":"Bear Stearns","slug":"bear-stearns","type":"company"}},{"id":10182,"relationshipType":"financial_crisis_coordination","description":"Both entities involved in financial crisis response programs during 2008-2009 period, with Treasury coordinating PPIP while Federal Reserve Bank of New York managed related crisis interventions","confidence":"secondary","firstDocumented":"2009","lastDocumented":null,"other":{"id":820,"name":"Public-Private Investment Program (PPIP)","slug":"public-private-investment-program-ppip","type":"government_agency"}}],"contradictions":[],"permalink":"https://www.goblinhouse.net/entity/federal-reserve-bank-of-new-york","timelineUrl":"https://www.goblinhouse.net/entity/federal-reserve-bank-of-new-york/timeline"}