ABSTRACT

Government Assistance for AIG: Summary and Cost [October 13, 2017]   [open pdf - 790KB]

"American International Group (AIG), one of the world's major insurers, was the largest recipient of government financial assistance during the 2007-2009 financial crisis. At the maximum, the Federal Reserve (Fed) and the Treasury committed approximately $182.3 billion in specific extraordinary assistance for AIG and another $15.2 billion through a more widely available lending facility. The amount actually disbursed to assist AIG reached a maximum of $141.8 billion in April 2009. In return, AIG paid interest and dividends on the funding and the U.S. Treasury ultimately received a 92% ownership share in the company. The government assistance for AIG ended in 2013. All Federal Reserve loans have been repaid and the Treasury has sold all of the financial holdings that resulted from the assistance."

Report Number:
CRS Report for Congress, R42953
Author:
Publisher:
Date:
2017-10-13
Copyright:
Public Domain
Retrieved From:
Federation of American Scientists: http://www.fas.org/sgp/crs/index.html
Format:
pdf
Media Type:
application/pdf
URL:
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