AIG System Standing
One included nearly $70 billion one Treasury committed as a consequence of TARP and you may $112 billion the full time of the Federal Put aside Lender of brand new York (FRBNY).
Into the , Treasury offered the remaining 234,169,156 offers out-of AIG prominent stock when you look at the an underwritten personal offering getting aggregate proceeds of about $seven.six billion.
You.S. Company of one’s Treasury
Providing impact to that selling, the entire confident return toward Federal Reserve and Treasury’s joint $182 mil commitment to stabilize AIG when you look at the overall economy try today $22.7 million, with Treasury recognizing a confident go back away from $5.0 million therefore the Federal Reserve recognizing a positive go back from $17.7 mil.
Included in their full $5.0 mil positive go back to date, Treasury know an effective $cuatro.step 1 billion confident get back for the its well-known inventory holdings and you may a good $0.9 million confident get back on its common stock holdings. Included in the Government Reserve’s $17.7 million confident return to go out is a good $6.8 mil positive come back on Federal Put aside Bank of brand new York’s (FRBNY) financing so you can AIG; a $step one.4 mil self-confident go back into popular passions throughout the AIA Aurora and ALICO special-purpose vehicle you to stored AIG’s largest overseas lives insurance coverage subsidiaries; and you can a blended $9.5 mil confident come back to the Maiden Lane II & III special purpose car.
This new combined cash off $9.5 billion throughout the Maiden Way II and you may III special purpose automobile, which purchased home loan-associated assets of AIG and its own counterparties, represented the largest portion of the full $twenty-two.7 million self-confident go back.
Due to the fact financial crisis, AIG has performed a dramatic reorganizing efforts, and therefore put it into the a healthier condition to repay taxpayers. The dimensions of the company could have been reduce almost by 50 percent as it marketed low-core assets and you can focused on its key insurance surgery. AIG’s Financial products tool (AIGFP) is actually leftover wound off possesses slash their legacy types visibility because of the more than 93 percent to date.
In the last 19 months, Treasury conducted half a dozen personal products of AIG preferred inventory, selling a maximum of 1,655,037,962 shares (in the first place ninety five per cent of AIG’s outstanding popular stock) at the the average cost of $ each express. Treasury’s $20.eight million AIG preferred stock providing inside alone represented the greatest unmarried U.Smon stock offering of them all.
Adopting the are foundational to situations because reorganizing during the early 2011. Check a details visual explaining all big AIG transactions as a consequence of .
AIG repaid Treasury $dos.dos million in the arises from the new deals of the subsidiaries AIG Star Life insurance coverage Co., Ltd. and you may AIG Edison Life insurance Company so you’re able to Prudential Economic, Inc.
AIG paid Treasury $six.nine billion to minimize an equal display off Treasury’s common security demand for AIG. The fresh new continues originated in AIG’s deals of their collateral stake during the MetLife and you can away from fund in the past stored inside anticipation from expenditures related towards income of their Western Coverage Co. (ALICO) to help you MetLife.
Treasury ended up selling 200 mil shares out-of AIG prominent inventory getting continues of $5.8 billion, and you can cancelled $dos mil off in earlier times committed — but undrawn fund.
AIG repaid Treasury $2.15 million financed from the proceeds from the fresh new deals regarding AIG’s Nan Shan term life insurance subsidiary. New proceeds were used to expend straight back brand new You.S. taxpayers’ funding from inside the AIG from the redemption away from the same portion out-of Treasury’s Nevada loans popular equity passions into the AIA Aurora LLC, a part out-of AIG.
Treasury gotten an installment out of AIG out-of $972 billion. This new commission are funded mainly from the arranged release of escrowed proceeds from AIG’s business out-of ALICO, subsidiary so you can MetLife, Inc. The fresh new proceeds were used to expend right back the new You.S. taxpayers’ investment inside AIG from the redemption out of an equal section out-of Treasury’s popular guarantee welfare inside the AIA Aurora LLC, a subsidiary out of AIG.