Fed’s Alvarez doesn’t expect AIG to need more funds

NEW YORK, May 26 (BestGrowthStock) – The U.S. Federal Reserve’s top
lawyer said on Wednesday he has no expectation that insurer
American International Group (AIG.N: ) will need additional funds
from the central bank.

“Right now, they are on a path of sustainability, a path of
repayment, that is the goal of the management of AIG. They are
accomplishing the goals we set out for the repayment of the
facilities,” Fed General Counsel Scott Alvarez said in response
to questions from the Congressional Oversight Panel.

“I have no expectation they will need additional funds.
They certainly have not requested extra funds from the Federal
Reserve.”

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(Reporting by Mark Felsenthal and Kristina Cooke; Editing by
James Dalgleish)

Fed’s Alvarez doesn’t expect AIG to need more funds