Preferred Interests in AIA Aurora LLC and ALICO Holdings LLC (DISCONTINUED SERIES) (WALICO)
2012-04-25: 0.000 Billions of Dollars
Weekly, Ending Wednesday, Not Seasonally Adjusted, Updated: 2012-04-27 8:32 AM CDT
|Source:|| Board of Governors of the Federal Reserve System
|Release:||H.4.1 Factors Affecting Reserve Balances|
In conjunction with the restructuring of the government's assistance to American International Group, Inc. (AIG) announced March 2, 2009, the outstanding balance and amount available of revolving credit provided to AIG by the FRBNY has been reduced in exchange for preferred interests in two special purpose vehicles, AIA Aurora LLC and ALICO Holdings LLC. These two limited liability companies were created to directly or indirectly hold all of the outstanding common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. AIG will retain control of AIA Aurora LLC and ALICO Holdings LLC, and the FRBNY will have certain consent, disposition, and conversion rights with respect to its preferred interests.