AIG - Repos

  • (p218) - Jim Millstein - Fifteen billion dollars of commercial paper at the parent company.
    • Eighty billion dollars of repo.
    • Again, the repo markets went into seizure after the Lehman Brothers filing. And a much smaller amount of repo.
    • Two trillion dollars of notional derivatives, $400 billion of credit derivatives, concentrated very much in the real estate part of the market. 

2010 0526 - COP - Hearing - TARP and Other Government Assistance for AIG - [PDF-241p]


  • (p4) - Of equal concern, the default by AIG and AIGFP on more than $100 billion of institutional indebtedness, including $15 billion of commercial paper and $85 billion of short-term repurchase obligations9 would have exacerbated the stresses in the money market and repo markets driven by Lehman’s bankruptcy.
    • 9 Includes securities lending obligations. 

2010 0526 - COP Hearing - Jim Millstein (Chief Restructuring Officer U.S. Department of the Treasury) - 14p