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Data Dictionary

Item Number J806

LOANS AND SECURITIES: AIG ALLOWANCE FOR LOAN MODIFICATION

Call confidentiality applies to FFIEC 031/041.

Series	Start Date	End Date	Confidential?	Reporting Forms
FRBSJ806	2008-11-20	9999-12-31	Yes	FR 34

Data Description:

Pursuant to a loan restructuring plan, the New York Reserve Bank reduced the interest rate on the AIG Revolving Credit Facility effective April 17, 2009. (The rate was reduced to 3 percent plus the 3-month LIBOR rate; previously there was a 3.5 percent floor on the LIBOR rate.) The allowance, which reflects the future income foregone from the reduced interest rate, is amortized using the effective interest method over the remaining term of the loans, pursuant to the terms of the troubled debt restructuring (see paragraph 81.09).

Last update: Apr 23, 2024