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AIG to get additional £22bn

The US Federal Reserve last night injected another £22bn of liquidity into AIG as it struggled to regain financial stability.

This latest loan follows the £49bn the US Government loaned the insurer last month, effectively nationalising the company.

The central bank will now provide the additional £22bn to AIG’s regulated life insurance subsidiaries and will receive investment-grade, fixed-income securities in return.

AIG directors and executives have come under fire from the House Oversight and Government Reform Committee this week, which has accused them of exorbitant pay packages and spending just days before the company’s near collapse.

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Into the fray

At least the US administration obtained its bailout fund. Whether this will be sufficient to calm investors’ collective nerves, only time will tell. Wall Street was suitably cautious in the trading immediately after the vote that delivered the required result took place.

In the frame to take the blame

With the failure/nationalisation of several huge financial services players, all manner of stresses and strains have been placed on products sold by IFAs. To date, this par- ticular blame game has centred on bankers of all three types, investment, high street and central.

NATIXIS PORTFOLIO CLARITY – UK Portfolio Barometer

Natixis Global Asset Management’s quarterly Portfolio Barometer offers insights into UK financial advisers’ model portfolios and the allocation decisions they are making. Natixis’s Portfolio Research & Consulting Group works with financial advisers and other intermediaries to analyse and enhance their model portfolios and help them develop investor portfolios suited to today’s complex markets. The Portfolio […]

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