Advancing toward independence from the Fed, American International Group Inc. signed $4.3 billion of credit agreements last week. Administered by JPMorgan Chase & Co., the agreements include a three-year deal for $1.5 billion and a similar amount for 364 days, New York-based AIG said in a regulatory filing Monday, noted Bloomberg. Chartis Inc., an AIG subsidiary, obtained an additional $1.3 billion, according to the filing.
According to reports filed with the Securities and Exchange Commission, the agreements are contingent upon the insurer paying down its credit line with the Federal Reserve Bank of New York by March 31.
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