ADVERTISEMENT
  • News
  • New York
  • Technology
  • Culture
  • Entertainment
  • Sport
  • More
    • Politics
    • Lifestyle
    • TV
    • Games
Saturday, June 14, 2025
  • Login
No Result
View All Result
NEWSLETTER
FINCHANNEL
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • Americas
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • lifestyle
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • Americas
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • lifestyle
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
No Result
View All Result
FINCHANNEL
No Result
View All Result
Home Business Insurance

AIG Discloses Counterparties to CDS, GIA and Securities Lending Transactions

The FINANCIAL by The FINANCIAL
March 16, 2009
in Insurance
Reading Time: 2 mins read
8
A A
0
Share on FacebookShare on Twitter

The FINANCIAL — American International Group, Inc. (AIG) recognizes the importance of upholding a high degree of transparency with respect to the use of public funds.

 

As a result, after close consultation with the Federal Reserve, AIG is disclosing information identifying certain credit default swap counterparties, municipal counterparties and securities lending counterparties. Before disclosing this information, AIG consulted with the Federal Reserve about the potential public benefit of counterparty disclosure and the potential that such disclosure would cause competitive harm to AIG or its counterparties.

RelatedPosts

How Much Health Insurance Do You Need for Your Parents?

Navigating Car Insurance in New Orleans: What Locals Need to Know

Protected: Car Loan Interest Rates Explained: Fixed vs. Floating Rates

Why Small Businesses Should Consider PEO Health Insurance Services

 

"Severe valuation losses on the super senior multi-sector credit default swap portfolio of AIG Financial Products Corp. (AIGFP) triggered collateral provisions in the swap contracts, creating a liquidity crisis for AIG in September 2008. The Federal Reserve Bank of New York (FRBNY) provided an emergency $85 billion loan to AIG to meet short-term cash needs. The aid received by AIG helped avoid severe financial disruptions by providing liquidity to important financial institutions and municipalities," AIG reports.

 

Using funds from the emergency loan, financial counterparties listed on Attachment A received a total of $22.4 billion in collateral relating to CDS transactions from AIGFP between September 16, 2008 and December 31, 2008. This amount represents funds provided to such counterparties after the date on which AIG began receiving government assistance. The counterparties received additional collateral from AIG prior to September 16, 2008.

See also  Navigating Car Insurance in New Orleans: What Locals Need to Know

 

On November 10, 2008, AIG and the FRBNY established Maiden Lane III, a financing entity, to purchase the securities underlying certain CDS contracts from the counterparties to such contracts, allowing the cancellation of the contracts. Attachment B lists payments made by Maiden Lane III to such counterparties.

 

Municipalities in the states listed on Attachment C received a total of $12.1 billion from AIGFP between September 16, 2008 and December 31, 2008 in satisfaction of Guaranteed Investment Agreement (GIA) obligations. GIAs are structured investments with a guaranteed rate of return. Municipalities typically use GIAs to invest the proceeds from bond issuances until the funds are needed.

 

Public aid was also used to satisfy obligations to financial counterparties related to AIG’s securities lending operations. Securities lending counterparties listed on Attachment D received $43.7 billion from September 18, 2008 to December 31, 2008.

 

AIG has used the balance of the public aid it received during that time period for other purposes, including the funding of Maiden Lane II and III, debt repayment and capital support for some of its businesses.

 

AIG Chairman and Chief Executive Officer Edward M. Liddy said that the counterparty and collateral information show that billions in government assistance flowed to dozens of financial counterparties and municipalities during a time of acute stress in the economy.

 

Mr. Liddy emphasized that AIG’s disclosure of the counterparties does not change AIG’s commitment to maintaining the confidentiality of its business transactions. “Our decision to disclose these transactions was made following conversations with the counterparties and the recognition of the extraordinary nature of these transactions,” Mr. Liddy said.

 

 

Related Posts

Voters Still Support Allowing Health Insurance To Be Sold Across State Lines
Insurance

How Much Health Insurance Do You Need for Your Parents?

by The FINANCIAL
May 27, 2025
0

Having adequate health insurance is crucial to ensure you receive enough financial support to cover your parents’ medical expenses. But...

Read more
Navigating Car Insurance in New Orleans: What Locals Need to Know

Navigating Car Insurance in New Orleans: What Locals Need to Know

May 21, 2025
$300 Million Loan to Build New Section of Georgia’s East–West Highway

Protected: Car Loan Interest Rates Explained: Fixed vs. Floating Rates

January 22, 2025
PEMCO Poll finds residents don’t mind dreary weather, ditch umbrellas when it’s wet

Why Small Businesses Should Consider PEO Health Insurance Services

September 27, 2024

Discussion about this post

  • Trending
  • Comments
  • Latest
Ampersand wins £22m five-year contract at London Zoo

Ampersand wins £22m five-year contract at London Zoo

June 25, 2012
Domestic tourism numbers decreased in Georgia

Georgian economy contracted by 5.5 % in July 2020

August 31, 2020
Fullscript vs. Rupa Health: What the Acquisition Means for Providers and Patients

Fullscript vs. Rupa Health: What the Acquisition Means for Providers and Patients

June 11, 2025
Will digital media be decisive in general election – as it was in Donald Trump’s victory? 

How to Align Social Media with Your Overall Marketing Strategy

June 11, 2025
Teaching porn literacy

A sizable percentage of internet porn users, roughly 40% are women

January 17, 2024
INGA PATARAIA, Director of Montessori Kindergarten

First Montessori Kindergarten in Georgia Awarded Golden Brand 

June 14, 2025
VASKA DVALI, General Director of MBG Rent

MBG Rent Innovates in Construction Sector with New Offerings, Strategic Partnership

June 14, 2025
ramos logo eng

Ramos MacShaurma Expands in Georgia with New Fast Food Concepts

June 14, 2025
TEA EBRALIDZE, Director of Lotus

Rebranding for Success: Lotus Educational Center Elevates Aesthetic Training in Georgia

June 14, 2025
GIORGI JAKHVELADZE, CEO of LiveSupport

LiveSupport Expands Global Presence While Innovating in Georgia’s IT Sector

June 14, 2025
ADVERTISEMENT

Popular Last 24h

  • Ampersand wins £22m five-year contract at London Zoo

    Ampersand wins £22m five-year contract at London Zoo

    3599 shares
    Share 1440 Tweet 900
  • LiveSupport Expands Global Presence While Innovating in Georgia’s IT Sector

    21 shares
    Share 8 Tweet 5
  • Ramos MacShaurma Expands in Georgia with New Fast Food Concepts

    19 shares
    Share 8 Tweet 5
  • Herbalife: 45 Years of Global Expertise in Balanced Nutrition, 14 Years Fostering the Healthy Lifestyle Community in Georgia

    19 shares
    Share 8 Tweet 5
  • MBG Rent Innovates in Construction Sector with New Offerings, Strategic Partnership

    17 shares
    Share 7 Tweet 4
  • Discover the Healing Power of Khakhabo Natural Oils

    17 shares
    Share 7 Tweet 4
  • Rebranding for Success: Lotus Educational Center Elevates Aesthetic Training in Georgia

    17 shares
    Share 7 Tweet 4

LATEST POSTS

INGA PATARAIA, Director of Montessori Kindergarten

First Montessori Kindergarten in Georgia Awarded Golden Brand 

June 14, 2025
VASKA DVALI, General Director of MBG Rent

MBG Rent Innovates in Construction Sector with New Offerings, Strategic Partnership

June 14, 2025
ramos logo eng

Ramos MacShaurma Expands in Georgia with New Fast Food Concepts

June 14, 2025
TEA EBRALIDZE, Director of Lotus

Rebranding for Success: Lotus Educational Center Elevates Aesthetic Training in Georgia

June 14, 2025
GIORGI JAKHVELADZE, CEO of LiveSupport

LiveSupport Expands Global Presence While Innovating in Georgia’s IT Sector

June 14, 2025
EKATERINE NAKOPIA, l’Occitane Brand Development Manager in Georgia

L’Occitane en Provence Expands Its Charm in Georgia: New Boutique Opening in Batumi

June 14, 2025
ZVIAD KORDZADZE, Managing Partner of Kordzadze Law Office

Kordzadze Law Office Honored with Golden Brand Award for Sixteenth Year

June 14, 2025
ZAKARIA SVIMONISHVILI, Director of Khakhabo

Discover the Healing Power of Khakhabo Natural Oils

June 14, 2025
SOSO CHKHAPELIA, Founder and Director of Kalmatron Georgia

Kalmatron Georgia: A Leader in Innovative Waterproofing Solutions Since 2006

June 14, 2025
KHATIA BUKHRASHVILI, Secretary General of ICC Georgia

ICC Georgia Enhances Business Landscape with New Member Initiatives

June 14, 2025

LATESTBUSINESS

INGA PATARAIA, Director of Montessori Kindergarten

First Montessori Kindergarten in Georgia Awarded Golden Brand 

by Golden Brand
June 14, 2025
0

VASKA DVALI, General Director of MBG Rent

MBG Rent Innovates in Construction Sector with New Offerings, Strategic Partnership

by Golden Brand
June 14, 2025
0

ramos logo eng

Ramos MacShaurma Expands in Georgia with New Fast Food Concepts

by Golden Brand
June 14, 2025
0

TEA EBRALIDZE, Director of Lotus

Rebranding for Success: Lotus Educational Center Elevates Aesthetic Training in Georgia

by Golden Brand
June 14, 2025
0

GIORGI JAKHVELADZE, CEO of LiveSupport

LiveSupport Expands Global Presence While Innovating in Georgia’s IT Sector

by Golden Brand
June 14, 2025
0

EKATERINE NAKOPIA, l’Occitane Brand Development Manager in Georgia

L’Occitane en Provence Expands Its Charm in Georgia: New Boutique Opening in Batumi

by Golden Brand
June 14, 2025
0

ZVIAD KORDZADZE, Managing Partner of Kordzadze Law Office

Kordzadze Law Office Honored with Golden Brand Award for Sixteenth Year

by Golden Brand
June 14, 2025
0

ZAKARIA SVIMONISHVILI, Director of Khakhabo

Discover the Healing Power of Khakhabo Natural Oils

by Golden Brand
June 14, 2025
0

GET IN TOUCH

Submit guest post/Letters to the Editor:

editor (at) finchannel.com

Sales & Marketing: (+995 558) 03 03 03 Email: marketing (at) finchannel.com

Whatsup: (+995 599) 96 52 52

Georgia:

(+995 599) 96 52 52 Email: editor (@) finchannel.com

Postal address: 17 Mtskheta str. Tbilisi, Georgia 0179 The FINANCIAL

RESOURCE

  • Work at the FINANCIAL
  • ePaper
  • Advertise in The FINANCIAL
  • Access ePaper
  • Guest posts
  • Contributed articles
  • AmericanStockNews
  • Coupon Codes
  • GLOSSY MAG
American Culture Center
ACC Partner

GUIDEBOOK

  • Meet our team
  • Invest in Georgia
  • Become contributor
  • Archive

FOLLOW US

  • Facebook
  • Twitter
  • Google+
  • Youtube
No Result
View All Result
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • Americas
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • lifestyle
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE

© 2025 Intelligence Group llc

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.