American International Group Inc. has started using an $85 billion revolving credit line provided by the Federal Reserve Bank of New York.
AIG, New York, seems to have drawn $28 billion from the credit facility, according a comparison of with the and the
Releases in the Fed’s H.4.1 series cover “Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks.”
The Fed will be reporting information about the AIG credit facility in a line referring to “other credit extensions,” the Fed says in a note printed at the top of the latest release, which came out Thursday.
The “other credit extensions” figure did not appear in the Sept. 10 release but stood at $28 billion Wednesday.
The Federal Reserve Bank of New York reports that it now has about $401 billion in “securities, repurchase agreements, term auction credit, and other loans,” up from $295 billion Sept. 19, 2007.