AIG plans to disclose CDS counterparties: source
NEW YORK |
NEW YORK (Reuters) - American International Group Inc plans to disclose counterparties to the credit default swaps it wrote on complex debt securities, a source close to the company said on Saturday.
The timing of an announcement was not clear, the source said.
The U.S. government, which has committed up to $180 billion in the AIG rescue, extended aid to the insurer after large losses AIG suffered from a financial product unit's bets on toxic mortgage assets, triggering rating cuts and collateral demands that AIG could not meet.
(Reporting by Lilla Zuill; Editing by Peter Cooney)
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