Troubled Asset Relief Program: Third Quarter 2010 Update of Government Assistance Provided to AIG and Description of Recent Execution of Recapitalization Plan

摘要

Assistance provided by the Department of the Treasury (Treasury), under the Troubled Asset Relief Program (TARP), and the Board of Governors of the Federal Reserve System (Federal Reserve) to American International Group, Inc. (AIG) represents one of the federal government's largest investments in a private-sector institution since the financial crisis began in 2008. AIG is a holding company that, through its subsidiaries, engaged in a broad range of insurance and insurancerelated activities in the United States and abroad. As part of GAO's statutory oversight of TARP, this report updates a set of indicators GAO last reported in April 2010. Specifically, GAO discusses (1) trends in AIG's financial condition, (2) trends in the unwinding of AIG Financial Products (AIGFP) and the financial condition of AIG's insurance companies, and (3) the status of the government's exposure to AIG. To update the indicators, GAO primarily used available public filings as of September 30, 2010, and more current publicly available information; reviewed rating agencies' reports; and identified critical activities and discussed them with officials from Treasury, the Federal Reserve, and AIG. Treasury, the Federal Reserve, and AIG provided technical comments that GAO incorporated, as appropriate.