Treasury: AIG Receives Capital Injection Of $40B As Of Nov 25
Dow Jones Newswires
November 26, 2008
WASHINGTON -- The U.S. Treasury Department announced a capital injection into insurer American International Group Inc. (AIG) under a new part of the Wall Street bailout plan.
The capital injection totaled $40 billion as of Nov. 25, the Treasury said Wednesday in an update of programs started to help firms stricken by the financial crisis.
AIG qualified under the new Systemically Significant Failing Institutions Program for a $40 billion injection to purchase preferred stock. The decision to allow AIG to participate in the program was made Nov. 10.
Separately, more than 50 institutions have taken advantage of the capital purchase program. Since Oct. 28, when many of Wall Street's biggest banks first participated in that program, a total $161.5 billion has been injected into financial institutions.
The figures, as well as the names of the participants in the programs, are periodically updated in a list released by the Treasury.
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