On September 16, 2008, the Federal Reserve announced that it would lend to American International Group, Inc. (AIG) to provide AIG with breathing room to execute a value-maximizing strategic plan. On October 8, 2008, the FRBNY was authorized to extend credit to certain AIG subsidiaries against a range of securities. The credit extended to AIG under both of these programs is reported on this line. As a result of the closing of AIG recapitalization plan on January 14, 2011, the credit extended to AIG was fully repaid and the Federal Reserve's commitment to lend any further funds was terminated.
Board of Governors of the Federal Reserve System (US), Factors Supplying Reserve Balances: Loans: Credit Extended to American International Group, Inc., Net (DISCONTINUED) [WLCFAIGL], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/WLCFAIGL, July 6, 2022.