The Federal Reserve Bank of New York said it sold $7.5 billion of collateralized debt obligations linked to commercial mortgages to Barclays Plc and Deutsche Bank AG.

The joint winning bid “represents good value for the public and significantly exceeds the original price” the central bank paid for the assets, New York Fed President William C. Dudley said today in a statement on the regional bank’s website. The New York Fed said on April 18 it was inviting eight broker-dealers to submit bids at auction after receiving “several” unsolicited requests to purchase the so-called MAX CDOs, which were held in its Maiden Lane III LLC portfolio.

Three teams of Wall Street firms were competing for the debt, which was assumed in the 2008 bailout of American International Group Inc., according to people familiar with the transaction.