In financial crisis, the fresh government’s complete support to own AIG totaled whenever $182 billion

AIG System Updates

That integrated nearly $70 mil that Treasury enough time using TARP and $112 million the amount of time of the Federal Put aside Bank of the latest York (FRBNY).

From inside the , Treasury sold the leftover 234,169,156 offers of AIG preferred stock inside an underwritten social offering to own aggregate continues of approximately $seven.six billion.

U.S. Service of one’s Treasury

Offering perception to that particular sales, the entire confident return toward Government Set aside and you can Treasury’s joint $182 billion commitment to balance AIG within the economic crisis is actually now $twenty two.eight billion, that have Treasury recognizing a positive return out-of $5.0 mil plus the Federal Set-aside recognizing an optimistic go back out-of $17.seven billion.

Included in their total $5.0 billion positive go back to go out, Treasury know an effective $cuatro.step one million confident come back for the its common inventory holdings and you can an effective $0.9 mil confident go back into the their preferred stock holdings. As part of the Government Reserve’s $17.seven billion confident go back to time are a great $six.8 million confident come back towards the Government Set-aside Lender of the latest York’s (FRBNY) fund in order to AIG; a beneficial $1.cuatro mil self-confident go back to the well-known passions about AIA Aurora and you can ALICO special-purpose automobile you to definitely held AIG’s largest foreign life insurance rates subsidiaries; and you will a combined $9.5 mil self-confident go back towards the Maiden Lane II & III special-purpose auto.

The newest combined finances out of $nine.5 billion regarding the Maiden Lane II and you will III special-purpose vehicles, and this ordered home loan-associated property away from AIG as well as counterparties, portrayed the biggest portion of the complete $twenty-two.eight mil self-confident go back.

Once the overall economy, AIG have done a dramatic restructuring effort, and that put it during the a healthier standing to settle taxpayers. How big the company has been slashed almost by 50 percent since it sold non-center possessions and you may focused on their key insurance coverage surgery. AIG’s Borrowing products equipment (AIGFP) is continuing to be wound off features cut their legacy derivatives publicity by the more 93 percent at this point.

Within the last 19 days, Treasury used half a dozen social products out-of AIG common stock, offering a total of step one,655,037,962 shares (to begin with ninety five % off AIG’s outstanding well-known inventory) at the average price of $ per express. Treasury’s $20.seven billion AIG preferred inventory offering inside alone represented the most significant single You.Smon inventory giving at this moment.

Following the are fundamental events because restructuring in early 2011. Take a look at a records artwork discussing most of the significant AIG transactions as a consequence of .

AIG reduced Treasury $dos.dos mil into the proceeds from the new business of its subsidiaries AIG Celebrity Insurance Co., Ltd. and you can AIG Edison Life insurance policies Providers to help you Prudential Economic, Inc.

AIG paid Treasury $six.nine mil to minimize an equal express off Treasury’s popular security interest in AIG. The fresh continues originated AIG’s deals of its collateral stake into the MetLife covid 19 personal loans and you may regarding funds in earlier times held when you look at the expectation from expenditures relevant into product sales of their Western Insurance Co. (ALICO) to MetLife.

Treasury sold two hundred billion shares of AIG popular inventory having proceeds out of $5.8 billion, and cancelled $2 billion from prior to now the time — but undrawn money.

AIG paid down Treasury $2.fifteen mil funded from arises from the business out of AIG’s Nan Shan life insurance policies part. Brand new continues were utilized to invest back brand new U.S. taxpayers’ capital in the AIG from the redemption of the same part regarding Treasury’s popular collateral passions during the AIA Aurora LLC, a part away from AIG.

Treasury acquired a repayment of AIG of $972 million. The fresh new percentage try financed generally from the planned release of escrowed arises from AIG’s profit off ALICO, subsidiary so you can MetLife, Inc. The fresh new continues were utilized to spend right back the U.S. taxpayers’ funding in AIG from redemption out-of the same bit out-of Treasury’s well-known guarantee hobbies in the AIA Aurora LLC, a subsidiary out of AIG.