Inside the overall economy, the fresh government’s complete support to have AIG totaled up to $182 mil

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AIG System Reputation

That provided nearly $70 million you to definitely Treasury committed compliment of TARP and $112 mil the time because of the Government Set-aside Financial of the latest York (FRBNY).

When you look at the , Treasury offered its remaining 234,169,156 shares out of AIG popular inventory inside an enthusiastic underwritten personal offering getting aggregate continues of around $seven.6 mil.

Giving impression compared to that income, the general positive return on Federal Put aside and you can Treasury’s joint $182 billion commitment to balance out AIG for the overall economy try today $twenty-two.seven billion, having Treasury recognizing a positive get back away from $5.0 mil additionally the Federal Reserve recognizing a positive get back of $17.7 mil.

Included in the complete $5.0 billion confident come back to time, Treasury understood a great $4.step one mil positive return into the their prominent inventory holdings and you may an excellent $0.nine billion self-confident return towards its popular inventory holdings. As part of the Government Reserve’s $17.eight mil positive go back to day are an effective $6.8 mil self-confident return on the Government Set aside Financial of brand new York’s (FRBNY) fund so you can AIG; an excellent $step one.cuatro million self-confident go back towards the prominent appeal throughout the AIA Aurora and ALICO special purpose automobile you to kept AIG’s biggest foreign lives insurance coverage subsidiaries; and a combined $nine.5 mil self-confident get back into Maiden Lane II & III special-purpose automobile.

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New joint money off $9.5 mil about Maiden Way II and you can III special purpose automobile, and this purchased financial-associated property from AIG and its particular counterparties, depicted the largest portion of the total $twenty-two.seven billion self-confident get back.

Because financial crisis, AIG have undertaken a dramatic reorganizing work, hence place it in a more powerful condition to repay taxpayers. The dimensions of the firm has been cut almost in half since it marketed non-core property and you may worried about their core insurance policies functions. AIG’s Borrowing products equipment (AIGFP) try continuing to be injury off possesses cut their heritage derivatives visibility of the more 93 per cent at this point.

During the last 19 months, Treasury used half a dozen societal choices out of AIG common stock, selling a total of step 1,655,037,962 shares (in the first place ninety-five % from AIG’s an excellent preferred stock) at the the typical cost of $ each show. Treasury’s $20.seven million AIG prominent stock providing during the alone represented the most significant single You.Smon inventory giving of all time.

Following are key incidents because reorganizing at the beginning of 2011. Take a look at a facts visual outlining all the significant AIG purchases due to .

AIG reduced Treasury $2.dos billion inside proceeds from the fresh sale of its subsidiaries AIG Star Life insurance policies Co., Ltd. and you may AIG Edison Life insurance policies Organization in order to Prudential Monetary, Inc.

AIG paid off Treasury $6.nine million to minimize the same share out of Treasury’s preferred collateral need for AIG. This new continues originated from AIG’s selling of the equity stake into the MetLife and you can out of financing in past times kept into the anticipation out of expenditures associated toward deals of the American Insurance Co. (ALICO) to help you MetLife.

Treasury ended up selling 2 hundred billion offers out-of AIG preferred stock to own proceeds out of $5.8 mil, and you can terminated $2 mil out-of prior to now committed — but undrawn funds.

AIG reduced Treasury $2.fifteen billion funded from arises from the fresh new profit away from AIG’s Nan Shan life insurance part. The fresh continues were instant same day payday loans online Vermont used to spend straight back the brand new You.S. taxpayers’ money from inside the AIG from redemption away from an equal piece out of Treasury’s popular collateral welfare from inside the AIA Aurora LLC, a part out of AIG.