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US to sell off toxic assets

THE US treasury department will begin to sell off toxic assets worth an estimated $142bn (€99.8bn) in an effort to close another chapter of the financial crisis.

It said that each month it is planning to offload up to $10bn (€7bn) in mortgage-backed securities.

The products were bought as part of the 2008-2009 financial sector bailout. The department hopes to net $15-20bn (€10.5-€14bn) profit from the sale, depending on market conditions.