French regulator refused to help on AIG: Barofsky

banquedefrance

Commission Bancaire, France's banking regulator, refused the New York Federal Reserve calls to secure haircuts on payouts to two of American International Group's (AIG) biggest counterparties, the overseer of the Troubled Asset Relief Plan (Tarp) has alleged.

Neil Barofsky, who oversees Tarp, said in a report out Tuesday that the Frech regulator refused the New York Fed's request for help in persuading Calyon and Société Générale, two French banks who were among AIG's eight biggest credit-defaul

To continue reading...