Title:

Troubled Asset Relief Program : Update of Government Assistance Provided to AIG

Troubled Asset Relief Program : Update of Government Assistance Provided to AIG

DATE: April 27, 2010

AUTHOR:

ABSTRACT:

Assistance provided by the Department of the Treasury (Treasury) under the Troubled Asset Relief Program (TARP) and the Board of Governors of the Federal Reserve System (Federal Reserve) to American International Group, Inc. (AIG)--a holding company that, through its subsidiaries, is engaged in a broad range of insurance and insurance-related activities in the United States and abroad--represents one of the federal government's largest investments in a private sector institution since the financial crisis began in 2008. Treasury and the Federal Reserve provided assistance to AIG in September 2008 that was restructured in November 2008 and March 2009. As part of GAO's statutorily mandated oversight of TARP, this report updates the risk and repayment indicators GAO originally reported in September 2009 (GAO-09-975). Specifically in this report, GAO discusses (1) trends in AIG's financial condition, (2) trends in the unwinding of AIG Financial Products (AIGFP), (3) the financial condition of AIG's insurance companies, and (4) the status of AIG's repayment of its federal assistance. To update the indicators, GAO primarily used data as of December 31, 2009, and more current publicly available information; reviewed rating agencies' reports; identified critical activities; and discussed them with officials from Treasury, Federal Reserve, and AIG.

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United States. Government Accountability Office. Troubled Asset Relief Program : Update of Government Assistance Provided to AIG , Washington, D.C.: U.S. Govt. Accountability Office, April 27, 2010, https://fraser.stlouisfed.org/title/5054, accessed on April 17, 2024.

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ALTERNATE TITLES:

  • Troubled Asset Relief Program Update of Government Assistance Provided to American International Group, Inc.
  • Update of Government Assistance Provided to AIG

NOTE:

GAO-10-475.

PUBLISHER: U.S. Govt. Accountability Office

PLACE: Washington, D.C.

DIGITAL COPY SOURCE: U.S. Govt. Accountability Office

SUBJECTS: THEME: RELATED ITEM: CLASSIFICATION:
  • sudocs: GA 1.13:GAO-10-475
IDENTIFIER:
  • oclc: 703616366
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