New York state insurance regulators may let American International Group Inc. use New York insurance subsidiary assets to secure financing for the parent company only if the arrangement is part of a comprehensive rescue plan.
That is the view of a New York State Insurance Department staffer who requested anonymity.
CNBC is reporting that AIG could file for bankruptcy court protection if the New York Fed cannot help it arrange temporary financing.
Gov. David Paterson, D-N.Y., said on CNBC that AIG has about a day to avert a bankruptcy filing by raising $75 billion to $80 billion.