AIG System Updates
You to definitely integrated almost $70 million you to definitely Treasury the amount of time compliment of TARP and you will $112 million the time by Federal Set aside Financial of brand new York (FRBNY).
Inside the , Treasury sold the remaining 234,169,156 shares out of AIG well-known stock from inside the a keen underwritten personal giving to possess aggregate continues of around $seven.six mil.
You.S. Agency of the Treasury
Giving impression to that selling, all round positive go back into Federal Reserve and you may Treasury’s shared $182 million dedication to stabilize AIG inside financial crisis is today $22.eight mil, having Treasury recognizing an optimistic go back off $5.0 million in addition to Government Set aside realizing a confident go back from $17.seven mil.
Included in its overall $5.0 million positive go back to time, Treasury knew an effective $cuatro.step 1 mil self-confident go back on the common inventory holdings and you can an excellent $0.9 mil positive get back for the the common stock holdings. Included in the Federal Reserve’s $17.seven billion self-confident go back to day was an excellent $6.8 million confident return into the Government Put aside Lender of the latest York’s (FRBNY) finance to help you AIG; a great $step 1.cuatro billion self-confident get back into the well-known passion regarding AIA Aurora and you can ALICO special-purpose auto you to definitely stored AIG’s biggest overseas lives insurance subsidiaries; and you will a combined $9.5 billion self-confident come back on Maiden Lane II & III special purpose auto.
The brand new shared finances regarding $nine.5 million from the Maiden Way II and you may III special purpose vehicles, and that bought mortgage-relevant property away from AIG and its particular counterparties, illustrated the most significant portion of the overall $22.seven billion positive go back.
Due to the fact financial crisis, AIG possess undertaken a remarkable reorganizing effort, and this put it inside a stronger condition to repay taxpayers. How big the business could have been slashed nearly in half whilst ended up selling low-center property and concerned about its key insurance policies procedures. AIG’s Financial products device (AIGFP) is continuing to be injury off features slashed its history types coverage from the over 93 % to date.
During the last 19 months, Treasury conducted half a dozen societal products away from AIG preferred stock, attempting to sell a total of step 1,655,037,962 shares (in the first place ninety five % regarding AIG’s a good prominent stock) from the the average price of $ for each show. Treasury’s $20.seven million AIG preferred stock providing inside the alone portrayed the largest solitary You.Smon stock providing ever.
Pursuing the are foundational to occurrences as restructuring in early 2011. Check an information graphic describing all significant AIG deals as a result of .
AIG repaid Treasury $dos.2 billion into the arises from the newest purchases of the subsidiaries AIG Superstar Life insurance policies Co., Ltd. and you may AIG Edison Insurance Providers so you’re able to Prudential Financial, Inc.
AIG paid off Treasury $6.9 million to minimize an equal express away from Treasury’s prominent equity interest in AIG. The new continues originated AIG’s income of the security stake in the MetLife and you can out of fund previously held in the expectation out of costs relevant on the marketing of the Western Coverage Co. (ALICO) to help you MetLife.
Treasury offered 200 mil shares out-of AIG common stock having continues from $5.8 million, and terminated $2 million from previously the full time — but undrawn fund.
AIG paid down Treasury $2.15 million financed from the proceeds from this new marketing from AIG’s Nan Shan coverage part. The brand new proceeds were used to invest right back the brand new U.S. taxpayers’ capital in AIG through the redemption of an equal section out-of Treasury’s common equity passions in the AIA Aurora LLC, a subsidiary out-of AIG.
Treasury obtained an installment off AIG off $972 mil. The latest percentage are financed mostly from the booked discharge of escrowed proceeds from AIG’s deals https://cashadvancecompass.com/installment-loans-mi/charlotte of ALICO, part so you can MetLife, Inc. This new proceeds were utilized to invest right back the fresh new U.S. taxpayers’ financial support inside AIG through the redemption out-of an equal part off Treasury’s prominent equity passion for the AIA Aurora LLC, a part off AIG.