Zero borrowing was stretched in order to AIG below which plan
The fund in order to Maiden Lane II LLC and you can Maiden Way III LLC was in fact prolonged beneath the power regarding Section 13(3) of your own Government Put aside Operate, hence permitted the new Panel, from inside the uncommon and you may exigent points, to approve Put aside Banks to increase borrowing from the bank to individuals, partnerships, and you may corporations.
With the , the newest FRBNY gotten prominent need for a couple of special-purpose auto, AIA Aurora LLC and you can ALICO Holdings LLC, that have been molded to hang the newest a great common stock out-of AIG’s premier foreign insurance policies subsidiaries, American Worldwide Assurance Providers Ltd. (AIA) and you can Western Life insurance Organization (ALICO). (más…)