AIG (AIG) Discloses Financial Counterparties; Goldman Sachs (GS) Received $13 Billion

After pressure from politicians, bailed out insurer AIG (NYSE: AIG) listed information identifying certain credit default swap counterparties, municipal counterparties and securities lending counterparties. The data shows that roughly two-thirds of the $173.3 billion in federal aid AIG received has been paid out to trading partners.

Before disclosing this information, AIG consulted with the Federal Reserve about the potential public benefit of counterparty disclosure and the potential that such disclosure would cause competitive harm to AIG or its counterparties.

Financial counterparties received a total of $22.4 billion in collateral relating to CDS transactions from AIGFP between September 16, 2008 and December 31, 2008. Financial counterparties received $27.1 billion from Maiden Lane III payouts. Municipalities in the states listed on Attachment C received a total of $12.1 billion from AIGFP between September 16, 2008 and December 31, 2008 in satisfaction of Guaranteed Investment Agreement (GIA) obligations. Public aid was also used to satisfy obligations to financial counterparties related to AIG's securities lending operations. Securities lending counterparties listed on Attachment D received $43.7 billion from September 18, 2008 to December 31, 2008.

The data shows that Goldman Sachs (NYSE: GS) received $2.5 billion for AIGFP CDS couterparties payouts, $5.6 billion from Maiden Lane III CDS payouts and $4.8 billion from securities lending.

Other parties that received billions in payouts from AIG included: Citigroup (NYSE: C), Barclays (NYSE: BCS), Deutsche Bank (NYSE: DB), Bank of America (NYSE: BAC), Societe General, Morgan Stanley (NYSE: MS).

Link to AIG payout details.

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