AIG System Status
You to provided almost $70 mil that Treasury committed owing to TARP and $112 million the full time of the Government Set-aside Lender of the latest York (FRBNY).
In the , Treasury ended up selling their left 234,169,156 offers regarding AIG well-known stock into the an enthusiastic underwritten personal offering to have aggregate proceeds of approximately $7.six million.
You.S. Service of one’s Treasury
Offering feeling compared to that revenue, the general self-confident get back with the Government Reserve and Treasury’s shared $182 mil dedication to stabilize AIG during the economic crisis are now $22.7 mil, which have Treasury recognizing a confident go back of $5.0 billion plus the Federal Reserve realizing a positive return from $17.7 mil.
Within the complete $5.0 billion positive return to big date, Treasury knew a $cuatro.step one billion confident come back to your their preferred inventory holdings and you can a good $0.nine billion confident go back for the its well-known stock holdings. Within the Federal Reserve’s $17.7 billion positive go back to go out are an excellent $6.8 million positive go back toward Federal Set aside Financial of new York’s (FRBNY) fund to AIG; a great $1.cuatro billion confident come back to the popular passion regarding the AIA Aurora and you may ALICO special purpose automobile one stored AIG’s biggest international life insurance subsidiaries; and you will a mixed $nine.5 million self-confident come back towards Maiden Way II & III special purpose car.
The new combined cash out-of $9.5 million on the Maiden Way II and you can III special purpose automobile, and therefore ordered financial-relevant property regarding AIG and its own counterparties, represented the largest portion of the full $22.eight mil confident come back.
Due to the fact overall economy, AIG has actually done a remarkable reorganizing effort, hence place it during the a stronger condition to settle taxpayers. How big the organization might have been slash nearly by 50 percent whilst marketed non-core possessions and you may focused on their core insurance policies procedures. AIG’s Lending products device (AIGFP) is leftover wound off and contains slash the heritage derivatives exposure by the over 93 percent yet.
Over the past 19 days, Treasury used half a dozen social choices out of AIG popular stock, promoting a maximum of step 1,655,037,962 shares (in the first place 92 % away from AIG’s a great common stock) from the the typical price of $ per share. Treasury’s $20.seven billion AIG popular inventory providing within the by yourself portrayed the biggest solitary You.Smon inventory providing in history.
Pursuing the are key events since the restructuring during the early 2011. View an ideas artwork detailing all of the biggest AIG deals courtesy .
AIG paid back Treasury $2.2 mil into the arises from the purchases of the subsidiaries AIG Star Insurance Co., Ltd. and you will AIG Edison Insurance Team so you’re able to Prudential Financial, Inc.
AIG reduced Treasury $6.nine billion to reduce the same show out of Treasury’s popular security need for AIG. The latest continues originated AIG’s income of their collateral stake when you look at the MetLife and you can out of money in earlier times stored from inside the expectation away from expenses relevant into deals of their American Insurance Co. (ALICO) to help you MetLife.
Treasury ended up selling 2 hundred billion shares of AIG well-known inventory getting proceeds out-of $5.8 million, and you can terminated $2 mil out of in past times the full time — but undrawn finance.
AIG paid off Treasury $2.15 billion funded through the arises from the fresh product sales of AIG’s Nan Shan insurance part. The newest proceeds were utilized to expend back new U.S. taxpayers’ capital inside AIG through the redemption of the same portion https://cashadvanceamerica.net/installment-loans-ri/ out-of Treasury’s well-known equity passion in AIA Aurora LLC, a subsidiary of AIG.
Treasury obtained an installment away from AIG from $972 mil. The new percentage was funded primarily from arranged discharge of escrowed proceeds from AIG’s deals of ALICO, part to MetLife, Inc. The fresh continues were used to blow back the fresh new U.S. taxpayers’ capital from inside the AIG from redemption out of the same bit off Treasury’s common equity welfare into the AIA Aurora LLC, a subsidiary of AIG.
