AIG Program Reputation
One to provided nearly $70 million you to definitely Treasury the full time compliment of TARP and you can $112 billion the time of the Government Set-aside Financial of the latest York (FRBNY).
In , Treasury offered the leftover 234,169,156 offers off AIG common inventory in the an enthusiastic underwritten societal giving to own aggregate continues of about $seven.6 mil.
U.S. Agency of the Treasury
Giving perception to this business, the general self-confident go back towards Federal Reserve and you will Treasury’s combined $182 mil commitment to stabilize AIG within the economic crisis was today $twenty two.eight billion, with Treasury realizing a confident return off $5.0 million and the Government Set-aside recognizing a confident get back of $17.7 mil.
As part of its complete $5.0 mil confident come back to big date, Treasury knew a $4.step 1 billion self-confident return to the its preferred inventory holdings and a great $0.nine mil positive return for the their preferred inventory holdings. Included in the Government Reserve’s $17.seven mil confident return to date are a great $six.8 billion positive get back to the Federal Put aside Lender of brand new York’s (FRBNY) finance to AIG; a beneficial $1.cuatro million positive return for the well-known passion regarding AIA Aurora and you may ALICO special-purpose auto you to definitely stored AIG’s premier international life insurance subsidiaries; and you may a mixed $9.5 mil confident go back to your Maiden Lane II & III special-purpose vehicle.
The new mutual money https://cashadvanceamerica.net/personal-loans-ar/ away from $9.5 billion throughout the Maiden Way II and you can III special purpose car, and that bought financial-associated possessions regarding AIG and its particular counterparties, represented the greatest portion of the complete $twenty two.eight billion confident come back.
As overall economy, AIG possess undertaken a remarkable restructuring efforts, and therefore place it during the a more powerful status to settle taxpayers. How big is the company might have been clipped almost in two because it offered non-center property and you can focused on its core insurance functions. AIG’s Financial products unit (AIGFP) was continuing to be wound down and contains cut its heritage types publicity by more than 93 % so far.
During the last 19 days, Treasury used half a dozen societal products out of AIG prominent stock, promoting a maximum of step 1,655,037,962 shares (to start with 92 per cent of AIG’s a fantastic popular inventory) in the an average price of $ for every show. Treasury’s $20.eight billion AIG prominent inventory giving into the by yourself portrayed the biggest single U.Smon inventory giving of all time.
Following are foundational to events since restructuring during the early 2011. Consider a suggestions visual explaining every biggest AIG transactions because of .
AIG paid Treasury $2.2 million in the arises from new product sales of its subsidiaries AIG Star Term life insurance Co., Ltd. and you may AIG Edison Term life insurance Providers so you’re able to Prudential Monetary, Inc.
AIG paid down Treasury $6.nine billion to reduce the same share away from Treasury’s prominent equity demand for AIG. New proceeds originated in AIG’s deals of its security risk in MetLife and you will away from financing prior to now kept inside the anticipation off costs related on the purchases of their Western Insurance Co. (ALICO) to MetLife.
Treasury ended up selling two hundred mil offers regarding AIG preferred stock to have proceeds off $5.8 million, and you can cancelled $2 million out of prior to now the time — but undrawn money.
AIG paid Treasury $dos.15 million funded from the proceeds from the newest income out-of AIG’s Nan Shan coverage part. This new continues were utilized to spend right back the new You.S. taxpayers’ capital from inside the AIG from the redemption of the same part out-of Treasury’s common collateral interests within the AIA Aurora LLC, a subsidiary from AIG.
Treasury gotten a payment off AIG away from $972 mil. Brand new commission try financed mainly through the scheduled launch of escrowed proceeds from AIG’s revenue out-of ALICO, part so you can MetLife, Inc. New continues were used to blow right back the newest You.S. taxpayers’ resource into the AIG through the redemption out-of an equal part of Treasury’s prominent guarantee hobbies for the AIA Aurora LLC, a part of AIG.