AIG System Standing
One incorporated nearly $70 million you to definitely Treasury the full time because of TARP and you may $112 billion the amount of time by Government Reserve Bank of brand new York (FRBNY).
From inside the , Treasury offered its kept 234,169,156 offers regarding AIG prominent inventory within the a keen underwritten social giving to own aggregate continues of around $seven.6 billion.
You.S. Department of Treasury
Giving feeling compared to that product sales, the entire self-confident get back toward Government Set aside and Treasury’s joint $182 billion dedication to stabilize AIG into the economic crisis try today $22.seven mil, payday loans Pennsylvania having Treasury realizing an optimistic come back out-of $5.0 billion as well as the Federal Reserve realizing a confident return off $17.seven billion.
Within their total $5.0 million confident go back to date, Treasury realized a great $cuatro.step 1 million positive return on their preferred inventory holdings and you can a great $0.nine mil positive get back for the their common stock holdings. Included in the Federal Reserve’s $17.seven mil positive return to day is a beneficial $six.8 million positive get back on Federal Reserve Financial of the latest York’s (FRBNY) funds so you can AIG; an effective $step one.4 billion positive get back to the prominent appeal in the AIA Aurora and ALICO special-purpose car one held AIG’s prominent overseas lifetime insurance coverage subsidiaries; and you can a combined $nine.5 mil confident come back into Maiden Lane II & III special-purpose auto.
The brand new joint profit off $9.5 billion on the Maiden Lane II and you may III special purpose automobile, and that purchased mortgage-relevant property away from AIG as well as counterparties, portrayed the biggest part of the full $twenty-two.seven billion confident get back.
Given that overall economy, AIG has done a remarkable reorganizing energy, and therefore put it inside a stronger standing to repay taxpayers. The dimensions of the business could have been clipped almost in half because it marketed non-center assets and you will worried about their key insurance coverage functions. AIG’s Financial products device (AIGFP) is staying wound down possesses reduce its history types publicity from the over 93 % up to now.
In the last 19 months, Treasury used six public choices of AIG prominent stock, offering a total of 1,655,037,962 offers (to begin with ninety-five per cent from AIG’s a good prominent inventory) at the typical cost of $ per display. Treasury’s $20.seven billion AIG common stock giving during the alone illustrated the greatest solitary U.Smon stock giving in history.
Adopting the are fundamental occurrences since the restructuring during the early 2011. Examine an information visual explaining all of the major AIG deals as a result of .
AIG repaid Treasury $2.2 million from inside the arises from the fresh new purchases of its subsidiaries AIG Superstar Life insurance Co., Ltd. and you will AIG Edison Coverage Providers so you’re able to Prudential Monetary, Inc.
AIG reduced Treasury $6.9 mil to minimize an equal show out of Treasury’s prominent equity demand for AIG. The newest proceeds came from AIG’s selling of its guarantee stake into the MetLife and you may out-of finance in past times stored inside the anticipation away from costs related on the purchases of the Western Coverage Co. (ALICO) to help you MetLife.
Treasury ended up selling 2 hundred mil shares out-of AIG well-known inventory to have continues off $5.8 million, and you may cancelled $dos million off in past times the time — however, undrawn loans.
AIG paid Treasury $2.fifteen mil funded from the proceeds from new marketing out of AIG’s Nan Shan term life insurance subsidiary. The fresh new continues were used to spend right back the new You.S. taxpayers’ funding when you look at the AIG from redemption off the same section of Treasury’s popular guarantee hobbies for the AIA Aurora LLC, a subsidiary of AIG.
Treasury received a fees regarding AIG out of $972 million. The fresh commission was financed mainly through the arranged release of escrowed proceeds from AIG’s selling away from ALICO, part so you’re able to MetLife, Inc. The brand new proceeds were used to spend back this new U.S. taxpayers’ funding into the AIG through the redemption out-of the same bit from Treasury’s preferred equity hobbies in AIA Aurora LLC, a part from AIG.
