New York — American International Group Inc. (AIG)is rapidly depleting the $123 billion in loans it has received from the Federal Reserve, according to a report in the New York Times.

The article notes that, according to numbers from the Fed, $90 billion of the $123 billion available to the insurer has already been drawn down. In September, the company received an $85 billion emergency line of credit, which was later augmented by a $38 billion loan.

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