AIG investment a "one-off" transaction

Mon Nov 10, 2008 1:25pm GMT
 
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WASHINGTON (Reuters) - The U.S. Treasury Department said on Monday its $40 billion (25.3 billion pound) investment in American International Group was a one-off transaction that will not reduce the amount of capital that the Treasury plans to inject into U.S. banks.

A Treasury official also told reporters on a conference call that a member of President-elect Barack Obama's transition team was briefed on the transaction on Sunday night.

"This is a one-off, created solely for AIG," the official said, adding that the funds would not come from the $250 billion bank capital purchase program.

(Reporting by David Lawder; Editing by Theodore d'Afflisio)

 
Lloyd Blankfein, Chairman and CEO of Goldman Sachs, participates in a panel discussion at the Clinton Global Initiative in New York September 23, 2009.   REUTERS/Chip East
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