PHILADELPHIA (Reuters) - The Treasury Department may unveil plans by Wednesday to return American International Group Inc to independence, Bloomberg reported on Sunday.
The plans may be unveiled as early as this week, but the exact timing of an announcement depends on the pace of negotiations between regulators and the insurer, Bloomberg reported.
AIG and the Treasury Department have been in talks over repayment of bailout funds and a possible conversion of the Treasury's $49 billion preferred stake in AIG into common stock is one of the options being discussed, Reuters previously reported.
AIG, which received a $182.3 billion U.S. rescue package after being bailed out two years ago, owes the Fed about $21 billion under a credit facility. The Fed also owns $25 billion worth of preferred interest in two of AIG's foreign life insurance units that must be monetized.
AIG could not be immediately reached for comment.
(Reporting by Jessica Hall, editing by Martin Golan)
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