This represents an increase of 5,56 per cent in budgeted expenditure compared to actual expenditure for the previous financial year. The four subsidiary companies of the Bank achieved their objectives during the financial year.
The collateral for the loan is the company itself, together  BIS Review 114/2008  1  with its subsidiaries. 1 (Insurance policyholders and holders of AIG investment products are, however, fully protected.) Interest will accrue on the outstanding balance of the loan at a rate of three-month Libor plus 850 basis points, implying a current interest rate over 11 percent.