Factors Absorbing Reserve Funds: Funds From American International Group, Inc. Asset Dispositions, Held as Agent (DISCONTINUED) (WLAIGADL)
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| Factors Absorbing Reserve Funds: Funds From American International Group, Inc. Asset Dispositions, Held as Agent (DISCONTINUED) | 2011-07-07 | 2011-07-07 |
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| Board of Governors of the Federal Reserve System (US) | 2011-07-07 | 2011-07-07 |
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| H.4.1 Factors Affecting Reserve Balances | 2011-07-07 | 2011-07-07 |
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| Millions of Dollars | 2011-07-07 | 2011-07-07 |
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| Weekly, As of Wednesday | 2011-07-07 | 2011-07-07 |
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| Not Seasonally Adjusted | 2011-07-07 | 2011-07-07 |
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As a result of the closing of the American International Group, Inc. (AIG) recapitalization plan on January 14, 2011, the credit extended to AIG was fully repaid and the Federal Reserve's commitment to lend any further funds was terminated. In addition, the Federal Reserve Bank of New York (FRBNY) has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. The funds from AIG asset dispositions that FRBNY held as agent were the source of repayment of the credit extended to AIG, as well as the a portion of the FRBNY's preferred interests in ALICO Holdings LLC. The remaining FRBNY preferred interests in ALICO Holdings LLC and AIA Aurora LLC, valued at approximately $20 billion, were purchased by AIG through a draw on the Treasury's Series F preferred stock commitment and then transferred by AIG to the Treasury as consideration for the draw on the available Series F funds.
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2011-07-07 | 2011-07-07 |
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