Securities Lending
AIG – Securities Lending – Run
AIG – Securities Lending – Run 3.7 AIG’s securities lending operations faced the same “run on the bank” pressures as many other financial firms. (a) Bernanke: On “September 16, AIG, the largest multidimensional insurance company in the world, which had been selling credit insurance, came under enormous attack from people demanding cash either through margin…
Read MoreAIG – Securities Lending – Dinallo
AIG – Securities Lending – Dinallo 2008 1007 – GOV (House) – The Causes and Effects of the AIG Bailout- AIG Bailout Oversight Hearing – [PDF-171p, VIDEO-CSPAN] 2009 0305 – GOV (Senate) – American International Group: Examining What Went Wrong, Government Intervention, And Implications for Future Regulation – (CSPAN) Government Intervention and Regulation of AIG – [PDF-72p, …
Read MoreAIG – Securities Lending
AIG – Securities Lending Date-? – NAIC – Capital Markets Bureau Special Report – Securities Lending in the Insurance Industry – 9p 2003 – LC – AIG Global Securities Lending Corp. v. Banc of America Securities LLC, 254 F. Supp. 2d 373 (CaseText) – (S.D.N.Y. 2003). 2005 0926 – LC – AIG Global Securities Lending Corp. v. Banc…
Read MoreAIG – Securities Lending – Government Hearings
AIG – Securities Lending – Government Hearings 2008 1007 – GOV (House) – The Causes and Effects of the AIG Bailout- AIG Bailout Oversight Hearing, Panel 1 – [PDF-171p, Testimony of E Dinallo Before the House Oversight Committee_1.pdf – 8p 2008 1014 – GOV (Senate) – The Role of Financial Derivatives in the Current Financial Crisis, aka Hearing to…
Read MoreDots – AIG – Securities Lending
Dots – AIG – Securities Lending Securities Lending – Index 2010 0701 – FCIC Hearing – 2008 Financial Crisis and Derivatives, Day 2, Regulators Panel – [PDF-313p – CSPAN-Video 37:00 / (p205/206) – Dinallo, Born (FCIC) – COMMISSIONER BORN: Thank you. Mr. Dinallo, some people have suggested that the real problem at AIG related to its securities…
Read MoreSecurities Lending Was a Problem at AIG
Securities Lending Was a Problem at AIG Additionally, AIG maintained a large securities lending program operated by its insurance subsidiaries. The securities lending program allowed insurance companies, primarily the life insurance companies, to lend securities in return for cash collateral that was invested in residential mortgage-backed securities (RMBS). ⇒ This program was another major source…
Read MoreAIG – Securities Lending – Counterparties
AIG – Securities Lending – Counterparties 2009 0315 – AIG Press Release – AIG Discloses Counterparties To CDS, GIA And Securities Lending Transactions – 6p Attachment D – Payments to AIG Securities Lending Counterparties Institution Payments to Counterparties by U.S. Securities Lending — Total $43.7 <International 28.6 Billion / US – 15.1 Billion> Barclays $7.0 Deutsche Bank 6.4…
Read MoreAIG – Securities Lending – Legal Cases
AIG – Securities Lending – Legal Cases Transatlantic vs AIG 2009 – LC – AIG Glob. Sec. Lending Corp. v. Banc of Am. Sec. LLC United States District Court Southern District of New York Civil Action No. – 01 Civ. 11448 (JGK) Memorandum of Defendant Banc of America Securities LLC In Support of Its Motion…
Read MoreBond Lending
Bond Lending re: Bond Lending / <Securities Lending> There was also some discussion of the lack of liquidity associated with this program and it was felt that that is certainly consideration which must be taken into effect by companies contemplating such transactions. 1986-1, NAIC Proceedings – MINUTES WORKING GROUP ON EMERGING ISSUES CHICAGO ILLINOIS – NOVEMBER 1985…
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…
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