AIG System Status
That included almost $70 mil you to definitely Treasury the amount of time courtesy TARP and $112 billion committed by Government Set-aside Lender of the latest York (FRBNY).
Within the , Treasury sold the kept 234,169,156 shares off AIG common inventory in the an underwritten societal providing to own aggregate proceeds of around $eight.6 mil.
U.S. Department of Treasury
Providing perception to that particular income, the entire positive return into Federal Set aside and you can Treasury’s shared $182 million commitment to stabilize AIG inside the economic crisis is actually now $22.7 billion, with Treasury recognizing a positive return away from $5.0 billion together with Federal Set aside recognizing a positive get back off $17.seven billion.
As part of their total $5.0 million self-confident come back to time, Treasury knew a great $cuatro.step 1 mil positive return towards their prominent stock holdings and a great $0.9 billion confident return toward the prominent inventory holdings. As part of the Federal Reserve’s $17.7 billion self-confident come back to big date are an excellent $six.8 mil positive get back toward Government Set-aside Bank of the latest York’s (FRBNY) financing so you can AIG; an effective $step one.cuatro billion self-confident return for the preferred passions about AIA Aurora and you will ALICO special purpose car one held AIG’s premier overseas lifestyle insurance coverage subsidiaries; and a mixed $nine.5 million confident come back into the Maiden Lane II & III special-purpose automobile.
The fresh mutual money away from $nine.5 million throughout the Maiden Lane II and you can III special-purpose automobile, and therefore ordered mortgage-associated property of AIG as well as counterparties, depicted the most significant part of the total $twenty-two.seven billion self-confident get payday loan no phone calls back.
Because the overall economy, AIG keeps performed a remarkable reorganizing effort, hence put it when you look at the a healthier condition to settle taxpayers. The size of the firm has been slash almost in half as it marketed low-key assets and worried about the key insurance coverage surgery. AIG’s Lending products product (AIGFP) was leftover injury off and it has reduce the legacy derivatives publicity because of the more than 93 per cent so far.
Within the last 19 days, Treasury conducted six personal choices from AIG prominent stock, selling a total of 1,655,037,962 shares (to begin with ninety-five percent off AIG’s the preferred stock) during the the typical cost of $ each show. Treasury’s $20.seven mil AIG popular inventory giving for the alone portrayed the most significant unmarried U.Smon inventory offering of them all.
Pursuing the are fundamental events as the reorganizing at the beginning of 2011. Have a look at an information graphic outlining most of the significant AIG purchases using .
AIG paid Treasury $2.dos billion within the arises from the latest income of its subsidiaries AIG Star Life insurance policies Co., Ltd. and you may AIG Edison Coverage Business in order to Prudential Financial, Inc.
AIG reduced Treasury $six.nine million to minimize an equal display from Treasury’s prominent collateral need for AIG. The newest continues originated in AIG’s sales of their equity share into the MetLife and you can from money in past times held in the anticipation of costs related toward sale of its Western Life insurance Co. (ALICO) in order to MetLife.
Treasury sold 2 hundred billion offers out of AIG popular stock to possess proceeds out-of $5.8 million, and cancelled $2 billion off in earlier times the amount of time — however, undrawn loans.
AIG paid off Treasury $2.fifteen million funded from the arises from the brand new sale out-of AIG’s Nan Shan life insurance policies part. This new continues were utilized to blow right back the newest You.S. taxpayers’ financing within the AIG from the redemption of the same portion from Treasury’s popular equity passion within the AIA Aurora LLC, a subsidiary off AIG.
Treasury received a payment off AIG away from $972 mil. The newest percentage is financed generally through the scheduled release of escrowed proceeds from AIG’s selling of ALICO, subsidiary to help you MetLife, Inc. The new continues were utilized to invest back brand new U.S. taxpayers’ funding during the AIG through the redemption out of the same bit out-of Treasury’s preferred security appeal for the AIA Aurora LLC, a subsidiary of AIG.
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