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AIG gets back $5 billion contribution to Maiden Lane III

American International Group (AIG) received back its $5 billion in equity contributed to the Maiden Lane III disaster fund.

In June, the New York Fed was paid back its $24.3 billion pumped into the fund.

The money was used to buy a total $29.3 billion in collateralized debt obligations from AIG counterparties.

The proceeds from selling securities in Maiden Lane III allowed the repayment of the $5 billion back to AIG, plus interest, the New York Fed said in an update Monday.

The NY Fed will continue receiving two-thirds of the profits from future sales of the assets.

As of March 2012, there were $20.9 billion in assets remaining in the fund, most of it high-grade asset-backed securities.

jprior@housingwire.com

@JonAPrior

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