WASHINGTON (Reuters) – A U.S. bailout watchdog has launched two new investigations into the New York Federal Reserve Bank’s actions on insurer AIG’s (AIG.N) disclosure of payments to banks after its 2008 rescue, excerpts of prepared congressional testimony showed on Monday.

Neil Barofsky, the special inspector general of the Treasury’s $700 billion Troubled Asset Relief Program, said he would launch a probe into whether there was any misconduct relating to public disclosure of the $62.1 billion paid to retire credit default swaps with banks.

Barofsky announced the investigation in excerpts of prepared testimony to the U.S. House of Representatives Oversight and Government Reform Committee obtained by Reuters. He is among witnesses due to testify on the AIG matter before the panel on Wednesday.

Also appearing at the hearing will be U.S. Treasury Secretary Timothy Geithner, who ran the New York Fed at the time of the American International Group bailout in 2008 and Thomas Baxter, the New York Fed’s general counsel.

Barofsky said he also would launch a second probe into the New York Fed’s cooperation with a prior audit conducted by his office into the AIG payments to U.S. and foreign-owned banks. (Reporting by David Lawder; Editing by Valerie Lee)

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