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American International Group, Inc. Message Board

  • skblast skblast Oct 30, 2008 3:27 PM Flag

    AIG units to join Fed's commercial paper program

    SAN FRANCISCO (MarketWatch) -- Four affiliates of American International Group (AIG:American International Group, Inc
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    Last: 1.62+0.07+4.52%

    3:17pm 10/30/2008

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    AIG 1.62, +0.07, +4.5%) applied to participate in the Federal Reserve Bank of New York's Commercial Paper Funding Facility to secure up to $20.9 billion in short-term financing, according to a regulatory filing by AIG Thursday. The affiliates will use the funds from the issuance of the commercial paper to refinance AIG's outstanding commercial paper as it matures, meet other working capital needs and make voluntary prepayments under AIG's $85 billion credit facility with the Federal Reserve Bank of New York. The Fed has already lent AIG more than roughly $100 billion to prevent the insurance giant from

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