• Hi folks,
• Just want to reiterate some perspective that we all need to keep in mind.
  • 1. We are not involved in AIG from a supervisory perspective (in contrast to LEH where we did have responsibilities as a result of PDCF)
  • 2. As a result, we need to be clear that we are NOT holding ourselves out as responsible when we deal with firms and other supervisors.
  • 3. Our perspective is on understanding the actions others are taking.
• To that end, we have three key activities:
  • 1. We need to understand the exposures of our firms (banks and IBs)
  • 2. We need to stay in the information loop, but "low key" our interactions with NYS-Insurance and the UK-FSA. We will have some light-interface with other supervisors (OTS, etc).
  • 3. Through Legal, we want to understand how the bankruptcy process will play out.
• We will not be doing things that hold us out as having responsibility, such as holding regulatory coordinating calls, etc.
• We also believe that the private sector is and should be actively working on a resolution, and that based on our earlier dimensioning work that AIG has options (albeit unpleasant) to solve this themselves.

2008 0915 - FCIC - FRB (Brian Peters) - FCIC-AIG0017238 - 2p