Archive for January 2022
2022 – IAIS – Development of Liquidity Metrics: Phase 2
2022 – IAIS – Development of Liquidity Metrics – Phase 2 NAIC – Draft Comments – 1p (p10) – Non-traditional non-insurance (NTNI) activities, including off-balance sheet derivative transactions for non-hedging purposes, over-the-counter (OTC) transactions and/or leveraging assets to enhance investment returns, may give rise to liquidity risk and financial instability. Is Universal Life NTNI? Has…
Read MoreQ: Was The Securities Lending A Cause of AIG Problems?
Q: Was The Securities Lending A Cause of AIG Problems? 2020 03 – Yale – YPFS – The Rescue of American International Group, Module B: The Securities Borrowing Facility – 18p At some points, AIG accepted collateralization levels as low as 80% (from Credit Suisse) and 73% (from Barclays)7 (Hutchings 2010). As markets roiled throughout…
Read MoreBill Dooley – AIG
Bill Dooley – AIG https://ypfsresourcelibrary.blob.core.windows.net/fcic/fcic-docs/2007-11-27_AIG_Emails_between_Joe_Cassano_Andrew_Forster_William_Dooley_and_Elias_Habayeb_regarding_collateral_calls.pdf
Read MoreQ: Were AIGFP and AIG Securities Lending Connected?
Q: AIGFP and AIG Securities Lending – Connected? Q: Who At AIG Was Responsible for Securities Lending? Outside of the holding co., the insurance subs have about $68B in securities lending liabilities to the 12 largest firms. Program is managed by the holding company (AIG Financial Products). 2008 0912 – FCIC – 2008-09-12 Alejandro LaTorre…
Read MoreAIG – Name Changes / Mergers
AIG – Name Changes / Mergers The Company was incorporated in Delaware on April 11, 1960, and commenced business on August 1, 1960, under the name Knights Life Insurance Company. The Company’s name was changed to American General Life Insurance Company of Delaware on December 31, 1962. On December 31, 1991, the Company, California-Western States…
Read MoreRoddy Boyd
Roddy Boyd 2010 0904 – AIG: Res Ipsa Loquitur, Roddy Boyd – [link] 2011 – Book – Fatal Risk: A Cautionary Tale of AIG’s Corporate Suicide, Roddy Boyd alephblog.com/2011/04/04/qa-with-roddy-boyd/ 2015 0122 – The Foundation for Financial Journalism – The Past Imperfect: Mr. Neuger and Mr. Fitzmaurice Would Like Your Money, Again, by Roddy Boyd -…
Read MoreQ: FSOC – Are Companies Told Why They are Designated SIFIs?
Q: FSOC – Are Companies Told Why They are Designated SIFIs? GOV – Gary Hughes (ACLI) Woodall ….FSOC says, ‘‘You are systemically dangerous,’’ and a natural question is: Why? The FSOC should have to state why they are dangerous and then be able to turn to their primary regulator and say, ‘‘Can you take care…
Read More2008 Financial Crisis – Systemic Risk
Systemic Risk – 2008 Financial Crisis Precrisis, there was a longstanding assumption that banks were the only types of financial companies that could pose systemic risk. As you noted, during the crisis that was proved un-true. Investment banks, insurance companies, other nonbanks precipitated the economic collapse. (p10-11) –Jeremy C. Kress, Assistant Professor of Business Law,…
Read MoreAIG – Different Investment Strategies re: Mortgage Backed Securities – AIGFP vs AIG Securities Lending
Different Investment Strategies re: Mortgage Backed Securities – AIGFP vs AIG Securities Lending Kevin McGinn – AIG – Nero email – FCIC Interview (mp3) <Bonk: Who did he tell? Any Documentation?> Bob Lewis FCIC Interview (mp3) – {Kevin told me he told them} Richard Scott – AIG FCIC Interview (mp3) – {Asked if he was…
Read MoreQ: AIGFP – Collateral Call Provisions – Was it Known About / Common?
Q: AIG – Collateral Call Provisions – Was it Known About / Common? Market Value Ratings Downgrades 2010 0630 – 2008 Financial Crisis and Derivatives, Day 1, AIG Executives – CSPAN-Video Cassano, Lewis, Sullivan Collateral call provisions – Market Value Yes – Cassano, Frost, Forster, Sun, ?? -market value vs ratings – Greenberg (GOV Hearing / FCIC…
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