AIG System Position
That integrated nearly $70 million you to definitely Treasury the amount of time as a consequence of TARP and you may $112 million enough time by the Government Set aside Lender of new York (FRBNY).
During the , Treasury ended up selling their left 234,169,156 shares off AIG prominent inventory in the a keen underwritten societal giving for aggregate proceeds around $7.6 billion.
You.S. Department of your own Treasury
Providing impression compared to that revenue, the overall confident come back into the Federal Reserve and you will Treasury’s mutual $182 mil commitment to balance AIG for the economic crisis is actually today $twenty two.seven million, that have Treasury recognizing an optimistic return away from $5.0 mil additionally the Government Put aside realizing a confident go back out of $17.eight million.
Within its overall $5.0 million confident return to go out, Treasury knew an excellent $cuatro.1 mil confident go back on the its well-known inventory holdings and you can a beneficial $0.nine million confident get back towards the the common stock holdings. As part of the Government Reserve’s $17.7 million self-confident go back to go out is actually an excellent $six.8 mil confident come back on Federal Set-aside Lender of new York’s (FRBNY) money to AIG; a great $step 1.cuatro mil self-confident get back into the well-known appeal regarding the AIA Aurora and you can ALICO special-purpose automobile you to definitely kept AIG’s biggest overseas existence insurance rates subsidiaries; and you may a combined $nine.5 mil positive come back to the Maiden Lane II & III special-purpose vehicles.
The brand new shared earnings out of $nine.5 mil on the Maiden Way II and you will III special purpose car, and that ordered mortgage-relevant possessions from AIG as well as counterparties, portrayed the greatest part of the total $22.seven mil positive go back.
Because the overall economy, AIG features done a remarkable restructuring energy, hence put it within the a more powerful standing to repay taxpayers. The size of the firm might have been cut almost in two because ended up selling non-key property and you may focused on its core insurance functions. AIG’s Borrowing products device (AIGFP) is actually staying injury down and it has slash the heritage types publicity of the more than 93 per cent up to now.
Over the past 19 days, Treasury conducted six personal choices away from AIG prominent stock, selling all in all, 1,655,037,962 shares (to begin with ninety-five % regarding AIG’s a fantastic well-known stock) during the the common cost of $ for each show. Treasury’s $20.7 mil AIG popular stock providing inside the alone represented the biggest unmarried U.Smon stock providing in history.
Following the are foundational to occurrences because the restructuring at the beginning of 2011. Take a look at a facts artwork describing all of the significant AIG transactions due to .
AIG paid back Treasury $dos.dos billion into the proceeds from the fresh marketing of its subsidiaries AIG Celebrity Life insurance Co., Ltd. and AIG Edison Coverage Company so you can Prudential Financial, Inc.
AIG repaid Treasury $six.9 mil to reduce the same express of Treasury’s common collateral need for AIG. Brand new continues originated from AIG’s purchases of the equity stake inside MetLife and from loans prior to now kept during the anticipation of costs related towards the selling of its Western Life insurance policies Co. (ALICO) to MetLife.
Treasury offered two hundred billion offers regarding AIG popular inventory to have continues away from $5.8 billion, and you may terminated $2 million out-of in past times committed — however, undrawn loans.
AIG paid back Treasury $dos.15 million financed from the proceeds from the fresh new product sales out-of AIG’s Nan Shan coverage subsidiary. The new proceeds were used to expend right back the fresh You.S. taxpayers’ resource inside the AIG from redemption out of the same section off Treasury’s preferred collateral appeal in the AIA Aurora LLC, a part of AIG.
Treasury gotten a payment out-of AIG away from $972 million. The newest percentage are funded primarily from booked discharge of escrowed proceeds from AIG’s marketing off ALICO, subsidiary to help you MetLife, Inc. The latest proceeds were used to invest right back the U.S. taxpayers’ financing inside AIG through the redemption away from an equal bit from Treasury’s common security interests in the AIA Aurora LLC, a subsidiary out of AIG.
