American International Group completed the recapitalization of the government gradually withdraw from

 NEW YORK, Jan. 14 (Xinhua Qiaoji Hong cattle Hoi Wing) The U.S. insurance giant American International Group (AIG) 14 have been announced with the U.S. Treasury and Federal Reserve Bank of New York on September 30 last year announced deal of capital adjustment programs have paid off all of the U.S. Federal Reserve's rescue loan, and the U.S. Treasury's preferred stock into common stock held for the government to withdraw from the company prepare for the future.

day, American International Group said in a statement, the company has to repay the Federal Reserve Bank of New York, about 210 billion dollars in loans and has the value of the U.S. Treasury holds 49.1 billion of preferred stock is converted to 1.655 billion ordinary shares, so the government share of common stock holdings of about 92%. American International Group hopes that the Government can select the appropriate time according to the market to gradually sell the shares to exit from the company.

the same time, to ensure the interests of existing shareholders, American International Group on the 19th to the existing private shareholders sold 75 million copies of warrants, subscription price is $ 45 per share, lower than the current price of about 20%.

New York Federal Reserve Bank said in a statement the same day, bringing all of the New York Fed bailout loans all been settled, including interest and related costs. Federal Reserve Chairman Ben Bernanke expressed, then select the rescue of American International Group, Lehman Brothers is not a more insurance decisions.

day U.S. Treasury Secretary Timothy Geithner said: section.

the Ministry of Finance as the next possible exit, like Citibank, in March this year began selling the stock of American International Group, and gradually withdraw from the company. Although the market expects the stock after the sale, the U.S. government will hold about two-thirds of the shares of the company, but the U.S. Treasury Department has made clear that, compared to withdraw from other companies, this will be based on pragmatic accelerate the pace of withdrawal.

Chairman and CEO Robert the day of the Moshi said,

American International Group was established in 1919, a total of 130 countries in the world and regions of various insurance business. After the financial crisis, the group in crisis, was facing bankruptcy.

the U.S. government in the % of the shares. October 8 that year, the Fed once again to provide up to $ 37,800,000,000 the amount of financing to increase its liquidity.

11 on 10, American International Group announced a huge third quarter loss of 24.5 billion U.S. dollars, the U.S. government and the Fed will help to 150 billion U.S. dollars the total amount. Among them, providing 600 billion dollars in loans the Fed, the Treasury preferred stock to redemption of 40 billion U.S. dollars and the investment of 52.5 billion U.S. dollars to buy American International Group, mortgage loans held or guaranteed securities.

2009   3 on 2, American International Group announced its fourth quarter 2008 loss of 61.7 billion U.S. dollars, marking the largest quarterly loss in U.S. history, the U.S. Treasury and the Fed once again shot, relief funds of 300 billion dollars. So far, the U.S. government has accumulated to fund this group of about 182 billion U.S. dollars.