AIG System Updates
One provided almost $70 million you to Treasury enough time compliment of TARP and $112 billion enough time of the Government Set aside Lender of new York (FRBNY).
From inside the , Treasury ended up selling the left 234,169,156 offers out-of AIG preferred inventory in a keen underwritten personal providing getting aggregate proceeds of approximately $7.6 million.
U.S. Agency of one’s Treasury
Providing impact to that particular sale, the overall confident go back to your Government Set aside and you can Treasury’s shared $182 billion dedication to balance AIG during the overall economy try today $22.seven million, that have Treasury realizing an optimistic get back away from $5.0 mil additionally the Government Put aside recognizing an optimistic get back from $17.seven billion.
As an element of the complete $5.0 billion confident come back to big date, Treasury know a great $cuatro.step one million confident go back with the its common stock holdings and you will a $0.9 billion confident get back with the their common inventory holdings. As part of the Federal Reserve’s $17.eight billion positive come back to big date was a good $6.8 mil positive return with the Federal Reserve Lender of the latest York’s (FRBNY) money to AIG; an effective $1.cuatro mil self-confident come back with the common welfare on the AIA Aurora and ALICO special-purpose vehicle you to definitely held AIG’s largest international life insurance policies subsidiaries; and you will a blended $nine.5 mil self-confident navigate to these guys go back to the Maiden Lane II & III special purpose car.
This new joint cash out of $9.5 mil in the Maiden Way II and you can III special-purpose vehicles, which purchased home loan-related property from AIG and its own counterparties, illustrated the most significant portion of the complete $twenty-two.eight million positive return.
Just like the economic crisis, AIG have done a dramatic reorganizing work, hence place it from inside the a more powerful reputation to repay taxpayers. The dimensions of the business might have been slashed almost in half as it offered low-center assets and you can concerned about their key insurance policies functions. AIG’s Lending products product (AIGFP) is actually staying wound down and has now cut their legacy derivatives publicity by the more than 93 percent yet.
In the last 19 weeks, Treasury conducted six societal products from AIG well-known inventory, attempting to sell all in all, step one,655,037,962 offers (to begin with 92 percent from AIG’s a fantastic preferred inventory) in the the common cost of $ per express. Treasury’s $20.seven million AIG prominent inventory offering when you look at the by yourself portrayed the most significant single U.Smon inventory giving ever.
After the are fundamental events as the reorganizing in early 2011. View a facts graphic outlining most of the major AIG purchases by way of .
AIG paid down Treasury $dos.2 mil during the proceeds from brand new marketing of its subsidiaries AIG Superstar Coverage Co., Ltd. and you can AIG Edison Coverage Providers in order to Prudential Financial, Inc.
AIG paid back Treasury $six.nine million to reduce an equal show off Treasury’s prominent guarantee need for AIG. The proceeds originated from AIG’s selling of the security share for the MetLife and you may off fund previously held inside the expectation away from expenditures associated to your selling of its American Coverage Co. (ALICO) so you can MetLife.
Treasury sold two hundred billion shares off AIG prominent inventory to have continues regarding $5.8 million, and you will terminated $dos mil off in earlier times the amount of time — but undrawn money.
AIG paid off Treasury $dos.15 mil funded from proceeds from the fresh income away from AIG’s Nan Shan term life insurance subsidiary. The fresh proceeds were used to pay back the latest You.S. taxpayers’ financial support in AIG from the redemption of an equal piece out of Treasury’s well-known guarantee passions in AIA Aurora LLC, a subsidiary regarding AIG.
Treasury received a payment out-of AIG regarding $972 mil. The fresh new percentage was funded mostly through the booked release of escrowed proceeds from AIG’s sales of ALICO, subsidiary to help you MetLife, Inc. New proceeds were utilized to spend back brand new You.S. taxpayers’ financing into the AIG from redemption away from an equal section out-of Treasury’s prominent guarantee hobbies inside the AIA Aurora LLC, a subsidiary away from AIG.