NEW YORK (
American International Group
has brought in a chunk of change over the past several months from banks to which it had made collateral payments, the
Wall Street Journal
reported on Wednesday.
While it is unclear exactly how much the flailing insurer received, the
, citing sources close to the matter, said the figure could have topped $3 billion.
sent AIG as much as $1 billion, according to the report.
The payments are related to credit default swaps AIG sold to guarantee debt linked to subprime mortgages. They come as the financial markets rebound, including bonds tied to subprime mortgages. These are the same bonds that led to AIG's near-collapse.
While much of those payments were voided as a result of the $180 billion loan AIG received from the government, it was able to retain some of those funds.
-- Reported by Jeanine Poggi in New York
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