The Fed on Monday moved to prop up the ailing insurer by easing the conditions of a $60 billion chunk of its $112.5 billion credit line with the New York Federal Reserve.
The news comes after the insurer announced losses of $61.7 billion for the fourth quarter of last year, the highest in American history.
The move sees the Fed cancel a por
- Fintech in the ‘new era’ – Sustainable and sound development
- China’s macroeconomy in the ‘new era’ of politics and power
- Policymakers should act now to prevent next crisis – IMF panellists
- A route to economic growth – The Belt and Road Initiative 2018 survey
- The Bank of Italy’s approach to risk-based budgeting