Insurers Also Drank From Fed Well
Several insurers tapped the U.S. Federal Reserve's Commercial Paper Funding Facility in 2008.
NEW YORK (
) --
American International Group
(AIG) - Get Report
was not the only insurer that tapped the U.S. Federal Reserve's Commercial Paper Funding Facility in 2008.
According to a report by
Prudential Financial
(PRU) - Get Report
borrowed a total of $2.46 billion,
MetLife
(MET) - Get Report
borrowed $1.64 billion,
Hartford
(HIG) - Get Report
borrowed $472.1 million,
Lincoln National
(LNC) - Get Report
borrowed $472.1 million and
Genworth Financial
(GNW) - Get Report
borrowed $202.4 million.
All insurers repaid the funds in 2009.
--Written by Maria Woehr in New York.
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