AIG Program Condition
One to integrated nearly $70 million one to Treasury the time due to TARP and you can $112 million the full time because of the Federal Set aside Lender of new York (FRBNY).
Within the , Treasury sold their remaining 234,169,156 shares out-of AIG prominent inventory into the a keen underwritten social giving to have aggregate proceeds of about $7.6 million.
You.S. Company of Treasury
Offering feeling compared to that product sales, the entire positive go back towards the Federal Set aside and you can Treasury’s joint $182 mil commitment to stabilize AIG inside the economic crisis try today $22.eight million, with Treasury realizing a confident return out-of $5.0 million plus the Government Reserve realizing an optimistic go back from $17.eight million.
As part of its overall $5.0 billion self-confident come back to day, Treasury knew a good $cuatro.step 1 million confident go back on their well-known stock holdings and you may good $0.9 billion confident come back to your their popular stock holdings. Within the Government Reserve’s $17.7 mil confident return to big date is actually a great $6.8 mil positive go back to your Government Set-aside Financial of brand new York’s (FRBNY) finance in order to AIG; a beneficial $1.4 million positive return toward preferred passion on AIA Aurora and you can ALICO special purpose automobile you to kept AIG’s biggest overseas lifetime insurance rates subsidiaries; and a blended $nine.5 million confident return for the Maiden Lane II & III special-purpose automobile.
The fresh mutual funds of $9.5 billion in the Maiden Way II and you can III special purpose car, and this ordered home loan-associated assets off AIG and its own counterparties, portrayed the biggest portion of the overall $twenty-two.seven million confident go back.
Due to the fact overall economy, AIG has performed a remarkable restructuring effort, and this place it from inside the a healthier position to settle taxpayers. How big is the business might have been cut almost in two because it ended up selling low-core property and you will focused on the core insurance surgery. AIG’s Financial products equipment (AIGFP) is remaining injury off and has slash its heritage derivatives exposure by over 93 per cent up to now.
Over the last 19 weeks, Treasury held half dozen societal offerings off AIG popular stock, selling all in all, step one,655,037,962 shares (in the first place ninety five per cent away from AIG’s a good well-known inventory) on the common cost of $ for each show. Treasury’s $20.seven billion AIG prominent stock offering into the by yourself illustrated the greatest solitary U.Smon stock giving in history.
Following the are fundamental incidents since reorganizing during the early 2011. See a facts graphic outlining all of the biggest AIG transactions compliment of .
AIG repaid Treasury $2.dos mil when you look at the proceeds from the brand new marketing of the subsidiaries AIG Celebrity Coverage Co., Ltd. and you will AIG Edison Life insurance policies Team in order to Prudential Financial, Inc.
AIG reduced Treasury $six.nine mil to reduce the same express out of Treasury’s prominent guarantee need for AIG. The continues originated from AIG’s purchases of the guarantee stake in MetLife and regarding money before held for the anticipation out-of expenditures relevant for the marketing of the American Coverage Co. (ALICO) in order to MetLife.
Treasury marketed 2 hundred billion shares from AIG prominent stock getting proceeds off $5.8 billion, and you can cancelled $dos mil regarding in earlier times the time — but undrawn money.
AIG paid off Treasury $dos.15 million funded from arises from the newest deals out-of AIG’s Nan Shan life insurance policies subsidiary. The continues were used to blow straight back this new U.S. taxpayers’ funding in AIG from redemption out-of an equal part from Treasury’s preferred collateral appeal inside AIA Aurora LLC, a part regarding AIG.
Treasury obtained a cost off AIG away from $972 mil. The newest fee is actually financed generally from the planned launch of escrowed proceeds from AIG’s product sales of ALICO, part so you’re able to MetLife, Inc. This new proceeds were utilized to expend back the fresh U.S. taxpayers’ financial support when you look at the AIG from redemption from the same part http://www.cashadvanceamerica.net/loans/dental-loans-for-implants/ of Treasury’s popular collateral appeal for the AIA Aurora LLC, a subsidiary regarding AIG.