American Worldwide Category (AIG), Maiden Way II and you will III
Western All over the world Classification (AIG) is a large, varied financial functions company that, by , stated consolidated complete assets out-of a bit more than $1 trillion. In weeks just before , short-term financial support avenues got come under big be concerned, place tall exchangeability pressures into the AIG that hindered being able to see sufficient money from banking institutions or perhaps in the market industry, and you may threatened to punctual a standard by agency.
The potential failure out-of AIG during the economic crisis posed high general dangers: AIG’s insurance policies subsidiaries had been one of many prominent in the usa; condition and you can regional governments which had lent currency to AIG might enjoys sustained losings; advancing years preparations got bought insurance coverage regarding AIG; banking institutions and you may insurance rates banking institutions got large exposures to AIG; a default because of the AIG for the its industrial paper more than likely could have disrupted the entire industrial papers field.