AIG System Status
You to definitely integrated almost $70 mil one Treasury the time as a result of TARP and $112 million the full time by Federal Set aside Financial of brand new York (FRBNY).
Within the , Treasury sold the left 234,169,156 shares regarding AIG prominent stock in an enthusiastic underwritten societal offering getting aggregate continues of around $eight.six million.
You.S. Agency of the Treasury
Giving feeling to that particular product sales, the overall positive get back towards Federal Reserve and you may Treasury’s combined $182 billion commitment to balance AIG for the financial crisis are now $twenty-two.7 million, which have Treasury realizing an optimistic go back out-of $5.0 million and the Government Set-aside recognizing a confident go back out of $17.eight million.
Within its overall $5.0 million confident return to big date, Treasury know a good $cuatro.step one billion confident go back towards its preferred stock holdings and you may a good $0.9 mil self-confident come back towards their well-known inventory holdings. Within the Federal Reserve’s $17.seven million self-confident return to time try a good $6.8 billion self-confident go back into the Federal Set-aside Lender of brand new York’s (FRBNY) funds to help you AIG; a $step one.cuatro million positive come back to the preferred passions on AIA Aurora and you may ALICO special-purpose vehicles you to held AIG’s largest international lifetime insurance rates subsidiaries; and you can a blended $9.5 million confident come back toward Maiden Way II & III special-purpose automobile.
The new joint finances off $nine.5 million regarding Maiden Lane II and III special-purpose car, and that bought mortgage-related possessions regarding AIG and its particular counterparties, portrayed the greatest portion of the overall $twenty two.seven mil self-confident go back.
While the overall economy, AIG enjoys performed a dramatic reorganizing effort, which place it from inside the a healthier updates to settle taxpayers. How big the company has been reduce almost by 50 percent because ended up selling low-center possessions and you may worried about its core insurance policies operations. find more info AIG’s Borrowing products product (AIGFP) was continuing to be wound off and it has slashed its history types visibility by over 93 per cent so far.
During the last 19 months, Treasury used six public choices regarding AIG common inventory, promoting a maximum of step one,655,037,962 offers (to start with ninety five per cent off AIG’s a fantastic popular inventory) on an average price of $ for every single show. Treasury’s $20.seven billion AIG popular inventory giving within the alone depicted the greatest unmarried You.Smon inventory giving of them all.
After the are key situations because restructuring at the beginning of 2011. Examine a details graphic describing every major AIG purchases courtesy .
AIG paid down Treasury $dos.2 billion for the proceeds from the latest profit of the subsidiaries AIG Superstar Term life insurance Co., Ltd. and you can AIG Edison Life insurance policies Organization to Prudential Financial, Inc.
AIG repaid Treasury $six.nine mil to attenuate the same show of Treasury’s popular equity need for AIG. New proceeds originated from AIG’s profit of the guarantee risk within the MetLife and you will regarding financing previously held from inside the anticipation away from expenditures relevant into profit of its Western Life insurance policies Co. (ALICO) to help you MetLife.
Treasury ended up selling 2 hundred billion offers out of AIG prominent stock for continues away from $5.8 mil, and cancelled $dos billion of previously enough time — but undrawn money.
AIG paid down Treasury $2.fifteen million funded through the arises from the latest business regarding AIG’s Nan Shan coverage part. The brand new continues were used to spend straight back this new U.S. taxpayers’ capital during the AIG from the redemption off the same piece away from Treasury’s prominent equity passions inside the AIA Aurora LLC, a part off AIG.
Treasury gotten an installment off AIG away from $972 million. The fresh commission try funded generally from arranged discharge of escrowed proceeds from AIG’s marketing of ALICO, subsidiary to MetLife, Inc. The newest continues were used to invest straight back this new You.S. taxpayers’ funding when you look at the AIG from the redemption off an equal piece from Treasury’s popular collateral passions into the AIA Aurora LLC, a subsidiary regarding AIG.