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The U.S. Treasury has revised its loan agreement with U.S. insurance company AIG , adjusting the terms of the loan to function under the Troubled Asset Relief Program. "These new measures establish a more durable capital structure, resolve liquidity issues, facilitate AIG's execution of its...
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On Wednesday evening, the U.S. Federal Reserve authorized an additional $37.8 billion loan to U.S. insurance giant American International Group after authorities took the firm into conservatorship and provided it with an $85 billion loan in September. "Under this program, the New York Fed will borrow...
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AIG's board of directors responded to the Federal Reserve's bailout in a statement, saying that it was the best choice for "AIG's constituencies, including policyholders, customers, creditors, counterparties, employees and shareholders." The statement said although AIG has $1 trillion...
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The Federal Reserve Bank of New York announced it would lend up to $85 billion to the American International Group late Tuesday night. The Fed said in a press release that the "terms and conditions (are) designed to protect the interests of the U.S. government and taxpayers." The release said...
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The U.S. government is considering conservatorship over AIG , much like the Fannie and Freddie take over last week, according to two sources who briefed Bloomberg on today's discussions. "This would mean another shareholder wipeout," said David Ader, U.S. government bond strategist with...
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The U.S. Federal Reserve is reconsidering a bridge loan to American International Group , Bloomberg News is reporting. Citing "a person familiar with the negotiations", Bloomberg said the U.S. government is backtracking on earlier rhetoric suggesting there would be no bailout. The source declined...