AIG System Condition
That integrated nearly $70 mil one to Treasury the time compliment of TARP and you will $112 mil enough time by the Federal Set aside Lender of the latest York (FRBNY).
Into the , Treasury marketed the kept 234,169,156 offers away from AIG common stock into the an enthusiastic underwritten social offering getting aggregate proceeds of around $eight.six million.
U.S. Service of one’s Treasury
Giving effect to that particular profit, the overall self-confident come back into the Federal Set aside and you can Treasury’s joint $182 million commitment to balance out AIG inside the overall economy is today $twenty-two.7 billion, which have Treasury realizing an optimistic get back out of $5.0 million plus the Government Set-aside realizing a positive return regarding $17.seven billion.
As an element of the overall $5.0 mil confident go back to go out, Treasury know good $4.1 billion self-confident get back on its prominent inventory holdings and you may a good $0.nine billion confident get back towards its well-known stock holdings. As part of the Government Reserve’s $17.eight mil confident come back to big date is actually a $six.8 billion self-confident get back with the Government Set aside Bank of the latest York’s (FRBNY) money so you’re able to AIG; a good $1.cuatro billion confident return into common passion regarding AIA Aurora and you will ALICO special-purpose car one to held AIG’s premier overseas lifetime insurance policies subsidiaries; and a combined $nine.5 billion confident go https://availableloan.net/loans/safe-payday-loans/ back into Maiden Lane II & III special purpose vehicles.
The brand new mutual cash of $nine.5 mil on the Maiden Way II and you may III special purpose vehicles, and that bought home loan-related assets of AIG and its own counterparties, portrayed the greatest part of the overall $22.eight billion confident go back.
Since the overall economy, AIG has actually performed a dramatic reorganizing work, and therefore place it inside the a more powerful condition to settle taxpayers. How big is the company could have been slash almost by 50 percent because it sold low-core possessions and concerned about their core insurance rates businesses. AIG’s Lending products product (AIGFP) are leftover injury down and has now clipped the heritage derivatives visibility because of the more 93 per cent yet.
Over the last 19 days, Treasury presented half a dozen social offerings off AIG preferred stock, attempting to sell all in all, 1,655,037,962 offers (originally ninety-five % regarding AIG’s the prominent inventory) within the average cost of $ for each and every display. Treasury’s $20.eight million AIG common inventory giving inside the alone illustrated the largest solitary You.Smon stock offering at this moment.
After the are key events while the restructuring at the beginning of 2011. Check an info graphic describing all of the major AIG purchases thanks to .
AIG paid back Treasury $2.2 mil inside the arises from the newest profit of its subsidiaries AIG Celebrity Life insurance policies Co., Ltd. and you may AIG Edison Coverage Providers to Prudential Monetary, Inc.
AIG paid back Treasury $six.9 mil to attenuate an equal express regarding Treasury’s popular guarantee need for AIG. New continues originated in AIG’s marketing of its guarantee stake for the MetLife and out-of money in the past kept for the anticipation out-of costs related into the sales of the American Insurance Co. (ALICO) to MetLife.
Treasury sold 2 hundred mil shares from AIG well-known stock getting continues regarding $5.8 billion, and you will terminated $dos mil out-of prior to now the amount of time — however, undrawn funds.
AIG reduced Treasury $2.fifteen billion financed from the proceeds from the latest income off AIG’s Nan Shan life insurance policies part. The new continues were used to invest back new U.S. taxpayers’ money from inside the AIG from redemption away from an equal piece out of Treasury’s well-known guarantee welfare for the AIA Aurora LLC, a subsidiary of AIG.
Treasury acquired a repayment of AIG away from $972 million. The fresh payment was financed primarily from the scheduled launch of escrowed arises from AIG’s selling out of ALICO, part to help you MetLife, Inc. The new continues were used to blow back the new You.S. taxpayers’ capital inside AIG from the redemption regarding the same section out of Treasury’s common security hobbies inside the AIA Aurora LLC, a subsidiary out of AIG.
