NEW YORK (AP) — The Federal Reserve Bank of New York said Thursday that loans it set up to help facilitate the bailouts of American International Group Inc., and now defunct investment bank Bear Stearns during the financial crisis, have been fully repaid with interest.
In total, $53.12 billion in loans were repaid. The original amount of the loan to a portfolio called Maiden Lane III LLC, created to buy the securities, repay debt and provide capital for some of AIG’s operations, was $24.3 billion. Another $28.82 billion in loans, set up through a portfolio named Maiden Lane LLC, which helped facilitate Bear Stearns’ takeover by JPMorgan Chase & Co. were also repaid. The loans were repaid through asset sales.
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