Inside the overall economy, this new government’s overall support to have AIG totaled around $182 mil
AIG Program Position
One to incorporated nearly $70 million you to definitely Treasury the full time compliment of TARP and you may $112 million the amount of time from the Federal Reserve Lender of brand new York (FRBNY).
For the , Treasury ended up selling their leftover 234,169,156 shares from AIG prominent inventory from inside the an enthusiastic underwritten societal offering having aggregate continues around $seven.six mil.
You.S. Agency of the Treasury
Giving impression to this marketing, all round positive get back for the Government Set aside and you will Treasury’s joint $182 billion dedication to balance out AIG into the financial crisis are today $22.7 billion, having Treasury recognizing a positive return off $5.0 mil plus the Federal Set aside recognizing an optimistic go back from $17.eight mil.
Within their complete $5.0 mil self-confident return to day, Treasury know an effective $cuatro.step one million positive come back on the the well-known inventory holdings and a great $0.nine billion self-confident come back to the the common stock holdings. Included in the Government Reserve’s $17.seven million positive come back to time is actually a good $six.8 mil positive come back towards the Federal Set-aside Bank of brand new York’s (FRBNY) loans so you’re able to AIG; a beneficial $step 1.4 billion positive go back on popular welfare in the AIA Aurora and ALICO special-purpose automobile you to definitely stored AIG’s largest foreign life insurance rates subsidiaries; and you will a combined $9.5 billion positive get back to your Maiden Way II & III special-purpose auto.
Brand new shared money regarding $9.5 million in the Maiden Way II and you may III special-purpose vehicles, and that purchased home loan-relevant possessions out-of AIG and its counterparties, portrayed the largest portion of the complete $twenty two.eight billion self-confident get back.
As financial crisis, AIG enjoys undertaken a remarkable restructuring efforts, and therefore place it for the a stronger position to repay taxpayers. How big the business might have been slashed almost in half since it offered low-key assets and you may worried about their core insurance surgery. AIG’s Financial products equipment (AIGFP) try leftover injury off features slash its legacy types visibility because of the more than 93 per cent yet.
In the last 19 weeks, Treasury conducted six social products from AIG well-known stock, selling all in all, step one,655,037,962 offers (to begin with ninety five per cent off AIG’s a fantastic popular inventory) within an average price of $ for each display. Treasury’s $20.7 mil AIG popular inventory providing inside the alone portrayed the largest single U.Smon stock offering of all time.
Following are key events just like the reorganizing during the early 2011. Have a look at an info visual discussing every big AIG deals as a consequence of .
AIG paid down Treasury $2.dos billion into the arises from the fresh new profit of its subsidiaries AIG Celebrity Life insurance policies Co., Ltd. and AIG Edison Term life insurance Company so you can Prudential Economic, Inc.
AIG reduced Treasury $six.nine million to reduce the same express out-of Treasury’s popular security demand for AIG. The fresh proceeds came from AIG’s deals of its security share inside MetLife and off finance previously held into the expectation out-of expenditures relevant into sale of its American Life insurance Co. (ALICO) so you can MetLife.
Treasury offered 200 billion offers away from AIG preferred stock for proceeds regarding $5.8 million, and you may cancelled $dos mil away from in past times the full time — however, undrawn funds.
AIG reduced Treasury $dos.fifteen billion funded from arises from the new revenue from AIG’s Nan Shan life insurance policies subsidiary. The fresh continues were used to pay straight back brand new You.S. taxpayers’ financing within the AIG from redemption out of an equal portion out-of Treasury’s preferred collateral interests inside AIA Aurora LLC, a part away from AIG.
Treasury acquired a cost away from AIG from $972 billion. Brand new payment are funded primarily from scheduled launch of escrowed arises from AIG’s product sales away from ALICO, part to MetLife, Inc. The fresh continues were utilized to invest right back the new U.S. taxpayers’ resource from inside the AIG from the redemption out-of the same piece from Treasury’s preferred security appeal in the AIA Aurora LLC, a subsidiary out of AIG.
