Systemically Significant Failing Institutions
Money for AIG
We're tracking where the bailout money is going. Our lead bailout reporter – and blogger – is ProPublica's . Lead developer is .
- Our frequently updated database tracks every dollar. In the scorecard, we provide a summary generated from the latest numbers.
- Our bailout recipient list tracks the companies to which Treasury has committed money.
- In the bailout map, we track bailout recipients by state.
A program under the Emergency Economic Stabilization Act
1 recipient
$69.83 billion promised
$67.83 billion actually invested, loaned, or spent
The sole 'systemically significant' institution to get money through this program is AIG. On four separate occasions, the government has offered aid to AIG to keep it from collapsing, rising from an initial $85 billion credit line from the Federal Reserve to a possible commitment of about $182 billion between the Treasury ($69.84 billion) and Fed ($110 billion). The green number to the right only reflects Treasury's commitment, since those are taxpayer dollars.
Together, the Treasury and the Fed have lent or invested a total of at least $134 billion to bail out AIG. See our post breaking down the aid here.
On January 11, 2011, AIG, the Treasury and Federal Reserve executed a plan that will ultimately extricate AIG from government support. AIG paid off the Fed's loans. To extricate the Fed from its investment in two AIG subsidiaries, the plan called for AIG to draw down approximately $20 billion more from the Treasury (for a total investment of $68 billion). AIG used that money to buy the stakes in the subsidiaries, which it then immediately transferred to Treasury. The plan also called for the Treasury to convert its other investments in AIG into AIG common stock - bringing its holdings to 92.1 percent. To recoup the $68 billion, Treasury will sell off its stake in the AIG subsidiaries and its AIG common stock over time.
Additional Resources:
AIG Announces Plan to Repay U.S. Government(9/30/10)
Treasury Announces Completion of the American International Group Recapitalization Transaction (1/14/11)
Go to list of all initiatives and programs
For our blog, resources and more, see our main bailout page.
The following list shows the 1 recipient of Systemically Significant Failing Institutions.
| Name | State | Date Entered | Amount Committed by SSFI | Amount Returned to SSFI | Total Bailout Commitment |
|---|---|---|---|---|---|
| AIG
Received other federal aid. Click to see details. |
N.Y. | Nov. 25, 2008 | $69,835,000,000 | $18,168,482,364 | $69,835,000,000 |