AIG Program Condition
That incorporated nearly $70 million you to Treasury committed using TARP and you may $112 billion the full time by the Government Reserve Financial of the latest York (FRBNY).
In , Treasury offered their leftover 234,169,156 offers regarding AIG preferred stock inside the an enthusiastic underwritten societal offering having aggregate proceeds of approximately $7.6 billion.
You.S. Department of Treasury
Giving feeling to that income, all round confident return for the Federal Reserve and you may Treasury’s mutual $182 billion commitment to stabilize AIG when you look at the overall economy is today $twenty two.seven million, with Treasury recognizing a confident get back away from $5.0 mil and Government Reserve recognizing a positive come back away from $17.seven billion.
As an element of the complete $5.0 billion self-confident return to time, Treasury understood a good $cuatro.1 billion positive go back to your its well-known inventory holdings and you will good $0.9 mil self-confident come back to your the popular stock holdings. Within the Government Reserve’s $17.seven mil self-confident go back to big date is actually a beneficial $six.8 million self-confident get back towards the Government Reserve Lender of new York’s (FRBNY) loans to help you AIG; a great $1.4 mil confident go back on the popular appeal on the AIA Aurora and you will ALICO special purpose car one held AIG’s biggest foreign life insurance policies subsidiaries; and you can a blended $nine.5 million self-confident come back towards Maiden Way II & III special purpose vehicles.
The fresh shared cash out-of $nine.5 mil in the Maiden Lane II and you can III special-purpose vehicle, and that bought home loan-relevant assets out-of AIG and its own counterparties, portrayed the biggest part of the overall $twenty two.7 billion confident go back.
Due to the fact overall economy, AIG features performed a remarkable restructuring work, and this place it inside a stronger condition to settle taxpayers. The dimensions of the business could have been cut nearly in half since it offered non-center property and you may concerned about its core insurance businesses. AIG’s Financial products equipment (AIGFP) is actually staying injury off features slashed the legacy types visibility of the more 93 per cent yet.
Within the last 19 months, Treasury used half a dozen social choices of AIG preferred inventory, selling a total of 1,655,037,962 offers (in the first place 92 per cent of AIG’s outstanding prominent stock) at the the average cost of $ for each share. Treasury’s $20.eight million AIG prominent inventory providing during the by yourself illustrated the biggest solitary You.Smon stock offering at this moment.
Following the are foundational to situations given that reorganizing at the beginning of 2011. View a details artwork describing all significant AIG transactions due to .
AIG paid Treasury $dos.dos million within the proceeds from the newest sale of their subsidiaries AIG Celebrity Life insurance coverage Co., Ltd. and you may AIG Edison Insurance Providers in order to Prudential Financial, Inc.
AIG paid Treasury $six.nine million to attenuate an equal show of Treasury’s preferred collateral need for AIG. The fresh new continues came from AIG’s product sales of the security risk inside the MetLife and off money in earlier times stored for the expectation out of costs associated into product sales of their American Term life insurance Co. (ALICO) so you can MetLife.
Treasury marketed 2 hundred mil shares away from AIG prominent inventory to own continues away from $5.8 mil, and you may terminated $dos billion away from in the past the amount of time — but undrawn money.
AIG paid down Treasury $dos.15 billion funded from the arises from the new profit out-of AIG’s Nan Shan term life insurance part. The brand new proceeds were utilized personal loans for bad credit Illinois to invest right back the newest You.S. taxpayers’ funding when you look at the AIG from the redemption out-of an equal portion from Treasury’s well-known security interests inside AIA Aurora LLC, a subsidiary regarding AIG.
Treasury received a repayment from AIG off $972 billion. The fresh fee is financed mostly through the scheduled launch of escrowed proceeds from AIG’s revenue of ALICO, part so you can MetLife, Inc. Brand new continues were utilized to expend right back the U.S. taxpayers’ financial support from inside the AIG from redemption regarding an equal section off Treasury’s preferred guarantee passion within the AIA Aurora LLC, a part out of AIG.