Within the financial crisis, brand new government’s full help getting AIG totaled everything $182 billion
AIG Program Reputation
One integrated almost $70 billion that Treasury committed courtesy TARP and you can $112 mil enough time of the Government Set aside Financial of new York (FRBNY).
Within the , Treasury sold the leftover 234,169,156 offers away from AIG prominent stock when you look at the a keen underwritten social offering to have aggregate proceeds of approximately $eight.6 million.
U.S. Agency of one’s Treasury
Offering impression to that particular deals, all round confident come back towards the Government Put aside and you will Treasury’s joint $182 billion commitment to stabilize AIG in the economic crisis are now $22.eight mil, that have Treasury recognizing a confident come back out of $5.0 million while the Government Reserve recognizing a confident get back away from $17.eight million.
Within its overall $5.0 billion confident return to date, Treasury know an effective $4.1 mil self-confident go back towards its common inventory holdings and a good $0.nine mil confident get back into the their popular inventory holdings. Included in the Federal Reserve’s $17.7 mil self-confident come back to day try an effective $6.8 billion self-confident return towards the Federal Set-aside Bank of the latest York’s (FRBNY) loans to AIG; a good $1.cuatro million positive get back with the preferred interests regarding the AIA Aurora and ALICO special-purpose car you to definitely stored AIG’s biggest foreign lifestyle insurance rates subsidiaries; and a combined $9.5 billion self-confident return to the Maiden Way II & III special-purpose vehicles.
The new combined cash of $nine.5 mil regarding Maiden Way II and you can III special purpose vehicles, and that purchased home loan-associated property regarding AIG and its counterparties, illustrated the largest part of the complete $twenty-two.7 mil positive return.
Because financial crisis, AIG provides performed a remarkable restructuring efforts, and that place https://cashadvanceamerica.net/installment-loans-ut/ it from inside the a stronger condition to settle taxpayers. How big is the organization could have been slashed nearly by 50 percent because it marketed low-center assets and you may worried about its core insurance coverage operations. AIG’s Borrowing products tool (AIGFP) is actually staying wound off features clipped the legacy types publicity from the more than 93 percent so far.
In the last 19 months, Treasury conducted half dozen social offerings from AIG popular stock, promoting a total of 1,655,037,962 offers (to start with 92 per cent regarding AIG’s the popular inventory) at the an average price of $ for each and every share. Treasury’s $20.7 million AIG well-known inventory providing inside by yourself represented the largest solitary You.Smon stock providing at this moment.
After the are key incidents while the restructuring in early 2011. Look at a suggestions graphic describing all the big AIG deals owing to .
AIG paid down Treasury $dos.dos mil for the arises from new sales of the subsidiaries AIG Superstar Life insurance Co., Ltd. and you can AIG Edison Life insurance Business to help you Prudential Monetary, Inc.
AIG paid down Treasury $six.9 mil to attenuate an equal express off Treasury’s prominent collateral need for AIG. The fresh new proceeds originated in AIG’s revenue of the guarantee risk from inside the MetLife and you will off funds in past times held in the anticipation of expenses related into sale of the Western Life insurance coverage Co. (ALICO) in order to MetLife.
Treasury offered two hundred mil offers of AIG popular inventory getting proceeds regarding $5.8 million, and cancelled $dos million of prior to now enough time — however, undrawn fund.
AIG paid off Treasury $dos.15 mil financed from proceeds from the fresh new selling out of AIG’s Nan Shan life insurance subsidiary. The proceeds were used to expend right back this new U.S. taxpayers’ financing in the AIG from redemption out of an equal portion away from Treasury’s common security hobbies inside the AIA Aurora LLC, a subsidiary of AIG.
Treasury obtained a payment off AIG away from $972 mil. The new commission try funded mainly from planned discharge of escrowed proceeds from AIG’s sale out of ALICO, subsidiary to MetLife, Inc. The proceeds were utilized to blow straight back the newest You.S. taxpayers’ money within the AIG from the redemption of an equal part out-of Treasury’s preferred guarantee appeal from inside the AIA Aurora LLC, a subsidiary regarding AIG.
