The brand new financing to help you Maiden Lane II LLC and Maiden Lane III LLC were offered within the expert regarding Part 13(3) of one’s Federal Set-aside Act, hence enabled the brand new Panel, into the uncommon and you may exigent items, in order to approve Reserve Financial institutions to give borrowing from the bank to people, partnerships, and you may firms.
With the , the new FRBNY acquired preferred interest in several special purpose vehicle, AIA Aurora LLC and ALICO Holdings LLC, which were molded to hold the a fantastic preferred stock off AIG’s prominent overseas insurance coverage subsidiaries, American Around the world Warranty Team Ltd. (AIA) and you can Western Term life insurance Team (ALICO). In return, this new the equilibrium from, and number of borrowing available excluding capitalized desire and you can charge, beneath the rotating credit business try less. (більше…)