AIG System Position
You to included nearly $70 billion you to Treasury the full time owing to TARP and you may $112 million committed because of the Government Set aside Lender of new York (FRBNY).
When you look at the , Treasury ended up selling their leftover 234,169,156 shares from AIG common inventory from inside the an enthusiastic underwritten public providing to possess aggregate proceeds of about $7.six million.
U.S. Agencies of one’s Treasury
Giving impact compared to that deals, all round self-confident come back towards the Federal Reserve and you may Treasury’s joint $182 million dedication to stabilize AIG in the overall economy was now $22.seven billion, that have Treasury realizing a positive return off $5.0 mil and also the Federal Reserve recognizing an optimistic get back off $17.seven mil.
Within their overall $5.0 mil self-confident go back to date, Treasury know an excellent $cuatro.step 1 billion confident return to your their common stock holdings and an effective $0.9 billion self-confident go back toward the common inventory holdings. Within the Government Reserve’s $17.7 million positive return to day is actually an effective $six.8 billion confident return with the Government Set-aside Bank of the latest York’s (FRBNY) loans so you’re able to AIG; an excellent $step 1.cuatro mil self-confident go back into popular passion about AIA Aurora and you can ALICO special-purpose car you to held AIG’s prominent overseas life insurance rates subsidiaries; and you can a mixed $9.5 mil positive come back with the Maiden Arkansas title loans AR Way II & III special-purpose automobile.
Brand new joint funds out-of $9.5 billion on Maiden Way II and you may III special purpose car, and this ordered home loan-relevant possessions of AIG and its own counterparties, illustrated the greatest portion of the complete $twenty two.7 mil self-confident go back.
Due to the fact overall economy, AIG features undertaken a remarkable restructuring work, hence place it in a stronger updates to settle taxpayers. The size of the firm could have been clipped almost in two whilst marketed low-center assets and you may focused on its core insurance rates businesses. AIG’s Borrowing products equipment (AIGFP) is actually remaining wound down and contains cut their heritage types coverage of the over 93 percent so far.
In the last 19 months, Treasury used half dozen societal choices out of AIG popular inventory, offering a total of step 1,655,037,962 offers (to start with ninety-five % out-of AIG’s a great preferred inventory) during the the typical price of $ each express. Treasury’s $20.eight billion AIG popular stock offering within the alone represented the greatest unmarried You.Smon inventory giving of them all.
After the are key incidents due to the fact restructuring at the beginning of 2011. Consider a details visual outlining all significant AIG deals using .
AIG paid Treasury $2.2 billion during the arises from the fresh new product sales of the subsidiaries AIG Star Coverage Co., Ltd. and you will AIG Edison Life insurance policies Team so you can Prudential Financial, Inc.
AIG paid back Treasury $6.nine billion to reduce the same show regarding Treasury’s common collateral need for AIG. The fresh new continues originated in AIG’s business of its security risk in the MetLife and out-of finance previously stored in the anticipation out of expenditures relevant for the deals of their Western Term life insurance Co. (ALICO) so you can MetLife.
Treasury offered two hundred billion shares regarding AIG popular inventory to have proceeds out of $5.8 million, and you may cancelled $2 billion from previously committed — however, undrawn fund.
AIG paid back Treasury $2.15 billion financed through the proceeds from brand new selling away from AIG’s Nan Shan life insurance coverage subsidiary. The newest proceeds were utilized to invest back the fresh U.S. taxpayers’ resource when you look at the AIG from redemption from an equal piece away from Treasury’s preferred security passions when you look at the AIA Aurora LLC, a subsidiary out-of AIG.
Treasury obtained a payment regarding AIG regarding $972 mil. The new payment is funded generally from arranged launch of escrowed arises from AIG’s product sales out of ALICO, part so you can MetLife, Inc. The newest proceeds were used to invest right back the latest You.S. taxpayers’ financial support inside AIG from redemption out-of the same bit away from Treasury’s prominent security interests within the AIA Aurora LLC, a part from AIG.