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Pimco may help manage Fed unit The New York Federal...

October 09, 2008|From Times Wire Services

Pimco may help manage Fed unit

The New York Federal Reserve Bank said it was in discussions with Pacific Investment Management Co. about hiring it to help manage a unit the central bank is setting up to buy commercial paper.

The New York Fed disclosed the talks with Newport Beach-based Pimco, which manages the world's largest bond fund, on its website.

Pimco is a unit of Allianz of Munich, Germany.

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