AIG planning to repay US taxpayer

Bailed-out insurer AIG plans to proceed with the process of paying back US taxpayer cash, more than two years after it was saved from collapse.

AIG is 80%-owned by the US government after it was bailed out for $182bn (£116bn) during the financial crisis.

The AIG plan would see the Federal Reserve Bank of New York get repaid its full $20bn and end involvement in AIG.

AIG would then just deal with the Treasury Department. Any deals would be done by early 2011.

Caroline Hepker reports.

  • BBC News