AIG still faces billions of dollars in potential losses on credit guarantees it provided for complex subprime mortgage securities, on top of its $62bn Q4 loss and regulatory efforts to unwind its holdings, company filings show. The US government’s problems dealing with AIG were highlighted on Tuesday as Ben Bernanke, Fed chairman, expressed anger with the company in an appearance before the Senate budget committee. AIG filings this week show the insurer retains $12bn in exposure to credit insurance on positions mostly involving subprime mortgages. Bernanke testimony here.

This entry was posted by Gwen Robinson on Wednesday, March 4th, 2009 at 4:57 and is filed under Capital markets. Tagged with aig. Edit this entry.