Inside overall economy, the government’s full service for AIG totaled around $182 billion
AIG Program Updates
One included almost $70 mil you to definitely Treasury committed due to TARP and you may $112 million committed from the Federal Set-aside Lender of brand new York (FRBNY).
In , Treasury ended up selling their remaining 234,169,156 offers regarding AIG common stock during the an enthusiastic underwritten social providing to have aggregate continues of around $eight.6 mil.
You.S. Company of one’s Treasury
Providing perception to that particular deals, the overall positive get back toward Government Set-aside and you can Treasury’s joint $182 mil commitment to balance out AIG from inside the overall economy is now $twenty-two.eight billion, with Treasury recognizing a positive get back out of $5.0 billion in addition to Federal Set-aside realizing an optimistic go back out of $17.seven million.
As an element of the total $5.0 billion positive come back to go out, Treasury knew a great $cuatro.step 1 billion confident go back with the their preferred inventory holdings and a great $0.9 billion confident come back into the the well-known stock holdings. Within the Government Reserve’s $17.eight million confident come back to date try a beneficial $six.8 million self-confident return on Government online payday loans Nebraska Set-aside Financial of brand new York’s (FRBNY) funds so you’re able to AIG; a great $1.4 mil confident get back on common welfare on AIA Aurora and you can ALICO special-purpose auto one to stored AIG’s prominent international lives insurance coverage subsidiaries; and you will a mixed $9.5 billion self-confident go back to the Maiden Lane II & III special-purpose vehicle.
The newest combined profit from $9.5 mil on the Maiden Way II and III special purpose auto, hence bought financial-related possessions of AIG and its counterparties, portrayed the largest portion of the overall $22.7 million self-confident return.
Because the overall economy, AIG features undertaken a remarkable reorganizing efforts, which put it in a more powerful standing to settle taxpayers. How big the organization might have been clipped nearly in two since it offered non-core possessions and you will focused on its core insurance rates procedures. AIG’s Borrowing products device (AIGFP) are staying injury off and has now clipped the heritage types publicity by the over 93 % up until now.
During the last 19 weeks, Treasury presented half dozen social choices off AIG common inventory, offering all in all, step 1,655,037,962 offers (to start with ninety five percent away from AIG’s a fantastic preferred stock) at the an average cost of $ per express. Treasury’s $20.eight million AIG popular inventory offering inside the by yourself illustrated the largest solitary You.Smon stock giving in history.
Following are fundamental situations once the reorganizing in early 2011. Take a look at an information artwork detailing all of the major AIG deals owing to .
AIG paid Treasury $2.2 billion in the arises from the new selling of their subsidiaries AIG Superstar Coverage Co., Ltd. and you will AIG Edison Life insurance policies Organization to Prudential Monetary, Inc.
AIG repaid Treasury $6.9 mil to minimize an equal show out-of Treasury’s common security interest in AIG. The proceeds originated AIG’s product sales of the guarantee risk inside MetLife and you may from fund previously stored in anticipation regarding costs related toward business of the American Life insurance coverage Co. (ALICO) so you can MetLife.
Treasury sold 2 hundred million shares of AIG well-known inventory to possess continues away from $5.8 million, and terminated $dos mil out-of previously the time — but undrawn money.
AIG paid down Treasury $2.fifteen million funded from the arises from new revenue out-of AIG’s Nan Shan insurance subsidiary. The new continues were used to spend right back the new You.S. taxpayers’ funding inside AIG from redemption out-of an equal part away from Treasury’s prominent guarantee passions from inside the AIA Aurora LLC, a part regarding AIG.
Treasury received an installment out of AIG of $972 million. The new fee is actually funded mainly from booked launch of escrowed proceeds from AIG’s purchases out of ALICO, subsidiary so you’re able to MetLife, Inc. The latest proceeds were used to expend straight back the new You.S. taxpayers’ resource in AIG through the redemption away from the same bit off Treasury’s popular equity interests for the AIA Aurora LLC, a part off AIG.
