AIG has repaid $47 billion to the Federal Reserve Bank of New York as part of the closing of its recapitalization agreement, The Wall Street Journal reports. Out of the total amount paid, $27 billion came from proceeds of the insurer’s recent asset sales, while $20 billion was drawn from the U.S. Department of Treasury. The Treasury is likely to recover the money when AIG completes sales of other assets that it has earmarked as noncore. Nearly $94 billion in federal assistance to AIG remains outstanding, down from the over $120 billion it owed as of Jan. 14, 2010.

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