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AIG Program Condition
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One to provided almost $70 billion one to Treasury enough time owing to TARP and you will $112 billion enough time by Federal Set aside Lender of the latest York (FRBNY).
Into the , Treasury offered their left 234,169,156 shares regarding AIG well-known stock in the an underwritten public providing to possess aggregate continues of around $eight.6 mil.
Offering impact to that product sales, all round confident get back into the Federal Put aside and you can Treasury’s combined $182 mil commitment to balance out AIG inside the economic crisis try now $twenty two.7 billion, having Treasury realizing a confident come back regarding $5.0 mil and the Government Put aside recognizing a positive come back from $17.eight billion.
Included in their overall $5.0 billion positive go back to day, Treasury know an excellent $cuatro.step one million confident come back into the their popular stock holdings and you will an effective $0.nine billion positive go back towards the their well-known inventory holdings. Within the Government Reserve’s $17.seven mil confident come back to time is a good $six.8 mil confident come back into Federal Put aside Bank of the latest York’s (FRBNY) funds so you’re able to AIG; a good $step 1.4 billion self-confident return toward prominent interests about AIA Aurora and you will ALICO special purpose vehicles one to kept AIG’s premier foreign lifestyle insurance subsidiaries; and you will a mixed $9.5 billion confident go back for the Maiden Lane II & III special-purpose car.
Floating Mortgage costs: The rate of interest relevant toward Financial transform with improvement in the brand new Bank’s Legs price
The brand new joint funds off $9.5 million on Maiden Way II and you can III special-purpose vehicle, which bought financial-associated possessions from AIG and its own counterparties, illustrated the most significant part of the complete $22.seven billion positive come back.
Since the economic crisis, AIG possess done a remarkable restructuring work, and that put it from inside the a more powerful updates to repay taxpayers. How big the business has been slash almost in two because sold non-key assets and you can worried about its key insurance surgery. AIG’s Financial products device (AIGFP) was leftover wound off and contains slash their history types coverage because of the more 93 percent up until now.
Over the last 19 months, Treasury used half a dozen social offerings from AIG preferred inventory, selling a maximum of step one,655,037,962 offers (to begin with 92 percent out-of AIG’s outstanding well-known inventory) at the the common cost of $ for each show. Treasury’s $20.eight million AIG preferred stock providing when you look at the alone represented the biggest unmarried You.Smon inventory giving ever.
Following the are foundational to incidents just like the reorganizing at the beginning of 2011. Look at a records graphic detailing all the significant AIG transactions as a consequence of .
AIG paid down Treasury $2.dos billion within the arises from the brand new profit of their subsidiaries AIG Celebrity Life insurance coverage Co., Ltd. and why not check here you will AIG Edison Term life insurance Team in order to Prudential Financial, Inc.
AIG reduced Treasury $six.nine mil to minimize the same express regarding Treasury’s prominent security interest in AIG. The brand new proceeds originated from AIG’s purchases of their guarantee risk into the MetLife and you will out of fund previously stored in the anticipation out of expenses associated toward revenue of their Western Coverage Co. (ALICO) to help you MetLife.
Treasury offered 2 hundred billion shares out of AIG prominent inventory to possess continues from $5.8 million, and you may cancelled $2 billion off prior to now the full time — however, undrawn fund.
AIG paid Treasury $dos.15 mil financed from proceeds from the new selling regarding AIG’s Nan Shan life insurance part. The fresh new continues were utilized to expend straight back the latest You.S. taxpayers’ money for the AIG from redemption off an equal section of Treasury’s prominent guarantee interests within the AIA Aurora LLC, a part of AIG.
