Inside the economic crisis, the latest government’s total support having AIG totaled everything $182 million
AIG Program Reputation
One integrated nearly $70 million that Treasury committed using TARP and you can $112 mil the amount of time of the Government Set-aside Financial of the latest York (FRBNY).
In , Treasury offered the remaining 234,169,156 shares off AIG popular stock for the an underwritten social giving to have aggregate proceeds of around $seven.six million.
U.S. Company of one’s Treasury
Giving perception to this deals, the overall self-confident get back for the Federal Reserve and you will Treasury’s mutual $182 mil commitment to balance out AIG when you look at the financial crisis are today $22.7 billion, which have Treasury recognizing a confident go back out-of $5.0 mil and Government Put aside recognizing an optimistic return off $17.7 mil.
As an element of its complete $5.0 million confident return to big date, Treasury know an excellent $cuatro.step one mil confident go back with the its preferred inventory holdings and you will a $0.9 million positive get back for the their well-known stock holdings. Included in the Federal Reserve’s $17.eight mil self-confident return to time try a beneficial $six.8 billion positive go back towards the Federal Set aside Lender of new York’s (FRBNY) fund in order to AIG; an effective $step one.4 million confident return into prominent welfare in the AIA Aurora and ALICO special purpose automobile one to kept AIG’s largest overseas lives insurance rates subsidiaries; and a blended $9.5 billion self-confident go back for the Maiden Lane II & III special purpose automobile.
The latest shared cash away from $nine.5 mil in the Maiden Lane II and you will III special-purpose automobile, and this bought financial-relevant possessions out-of AIG and its counterparties, illustrated the most significant portion of the overall $twenty-two.seven billion confident come back.
As the overall economy, AIG has actually undertaken a remarkable restructuring effort, and that place it from inside the a stronger status to settle taxpayers. The size of the organization could have been slashed nearly in two whilst offered low-core property and you may worried about their core insurance businesses. AIG’s Borrowing products product (AIGFP) are remaining wound off possesses reduce the history types visibility of the more 93 per cent to date.
Over the past 19 days, Treasury presented half a dozen social products regarding AIG popular stock, promoting a maximum of step one,655,037,962 shares (to begin with ninety five per cent regarding AIG’s the prominent stock) from the the common price of $ for each express. Treasury’s $20.eight billion AIG well-known stock providing in alone represented the biggest single You.Smon inventory giving in history.
Following the are key occurrences just like the restructuring at the beginning of 2011. Look at an information graphic discussing all major AIG transactions by way of .
AIG paid back Treasury $dos.dos mil for the proceeds from the fresh new product sales of its subsidiaries AIG Celebrity Coverage Co., Ltd. and you may AIG Edison Life insurance coverage Team to help you Prudential Economic, Inc.
AIG paid back Treasury $6.nine million to attenuate an equal express regarding Treasury’s popular security need for AIG. This new proceeds originated in AIG’s marketing of their guarantee risk inside the MetLife and regarding loans in the past held inside expectation out-of costs related for the income of their American Insurance Co. (ALICO) to help you MetLife.
Treasury offered 200 million shares away from AIG common stock having proceeds off $5.8 mil, and terminated $dos billion out of prior to now the amount of time — but undrawn money.
AIG paid Treasury $dos.fifteen mil funded from the proceeds from new sales off AIG’s Nan Shan life insurance coverage part https://cashadvanceamerica.net/title-loans-il/. The proceeds were used to spend right back the fresh You.S. taxpayers’ money inside AIG from the redemption regarding an equal bit out-of Treasury’s common guarantee passion when you look at the AIA Aurora LLC, a part out-of AIG.
Treasury obtained a repayment out-of AIG out of $972 billion. The fresh commission is actually financed mostly from booked release of escrowed arises from AIG’s profit away from ALICO, part to MetLife, Inc. This new proceeds were utilized to spend straight back the fresh You.S. taxpayers’ money inside the AIG from the redemption regarding the same section out of Treasury’s prominent security appeal when you look at the AIA Aurora LLC, a subsidiary away from AIG.