AIG System Status
You to definitely incorporated nearly $70 billion one to Treasury the full time compliment of TARP and you may $112 million the full time because of the Government Set aside Bank of brand new York (FRBNY).
From inside the , Treasury sold its remaining 234,169,156 shares out of AIG prominent stock inside the a keen underwritten social providing having aggregate continues around $7.six billion.
You.S. Agencies of Treasury
Providing impact to this sales, the overall confident get back with the Federal Put aside and you can Treasury’s mutual $182 mil commitment to balance AIG in the financial crisis was today $twenty-two.seven mil, with Treasury recognizing an optimistic return regarding $5.0 mil and Federal Put aside realizing a positive return of $17.7 million.
Included in its complete $5.0 mil positive come back to time, Treasury know good $4.step one mil positive go back towards its well-known inventory holdings and you will a great $0.9 billion confident go back to the its prominent inventory holdings. Within the Government Reserve’s $17.eight billion confident come back to date are a beneficial $6.8 mil confident get back with the Government Set aside Bank of brand new York’s (FRBNY) loans so you can AIG; a beneficial $step 1.4 billion confident return towards the prominent hobbies on AIA Aurora and ALICO special purpose car one kept AIG’s premier foreign lives insurance rates subsidiaries; and a mixed $nine.5 million confident get back into the Maiden Lane II & III special-purpose automobile.
New joint money from $nine.5 mil regarding Maiden Way II and you will III special-purpose vehicles, hence ordered home loan-related property away from AIG and its own counterparties, depicted the largest part of the total $twenty two.seven million self-confident return.
Because the overall economy, AIG enjoys done a remarkable reorganizing effort, and this place it in a stronger position to settle taxpayers. The dimensions of the company has been reduce almost by 50 percent whilst marketed low-center property and you will worried about their key insurance policies businesses. AIG’s Lending products device (AIGFP) was continuing to be wound off and also slash the history derivatives visibility by more 93 % at this point.
In the last 19 days, Treasury conducted six public offerings from AIG popular inventory, promoting a total of step 1,655,037,962 shares (to start with 92 % out-of AIG’s a good well-known stock) from the an average cost of $ for each express. Treasury’s $20.eight mil AIG popular inventory offering in the by yourself depicted the greatest solitary You.Smon stock giving ever.
Following the are foundational to events while the reorganizing at the beginning of 2011. Examine a facts graphic explaining every biggest AIG transactions as a consequence of .
AIG paid off Treasury $dos.dos billion in arises from brand new product sales of its subsidiaries AIG Superstar Life insurance policies Co., Ltd. and you can AIG Edison Coverage Providers Rhode Island title loan near me in order to Prudential Financial, Inc.
AIG paid down Treasury $6.nine million to reduce an equal display regarding Treasury’s common security demand for AIG. The newest continues came from AIG’s deals of the equity stake in the MetLife and you will from fund previously stored inside the expectation regarding expenses associated toward profit of the American Life insurance policies Co. (ALICO) so you can MetLife.
Treasury marketed two hundred mil offers regarding AIG prominent inventory for proceeds away from $5.8 mil, and you may terminated $2 million away from in past times the full time — however, undrawn loans.
AIG reduced Treasury $2.15 mil funded through the proceeds from the fresh business away from AIG’s Nan Shan insurance subsidiary. Brand new continues were used to blow back the newest U.S. taxpayers’ money in AIG from redemption out-of an equal portion from Treasury’s preferred equity hobbies during the AIA Aurora LLC, a subsidiary regarding AIG.
Treasury acquired a repayment away from AIG of $972 billion. Brand new fee is funded primarily from arranged launch of escrowed proceeds from AIG’s income out of ALICO, subsidiary to MetLife, Inc. The fresh new proceeds were utilized to expend straight back the You.S. taxpayers’ investment inside AIG through the redemption out-of an equal piece out of Treasury’s prominent guarantee appeal when you look at the AIA Aurora LLC, a part off AIG.