The central bank later said it would loan the company an additional $37.8 billion.
Last week, AIG said it would be able to access up to an additional $20.9 billion under the new commercial-paper-funding-facility program.
In total, the government has put about $144 billion at AIG's disposal.
By using the commercial-paper program from the Fed, AIG has been able to reduce the amount it had borrowed under the original $85 billion line of credit, Norton said.
As of Wednesday, AIG's borrowings under the $85 billion credit facility totaled $61 billion, down from about $65.5 billion a week ago. The total paydown in the past two weeks totals $9.1 billion.
In addition, AIG has drawn $19.9 billion under the $37.8 billion lending agreement, he said. That amount is up $2.2 billion from a week ago.
Although Norton would not provide details of the amounts borrowed under the new commercial-paper-funding facility, he did say the decrease in the $85 billion facility is "due primarily to AIG's access" to the program.
On Oct. 3, AIG said it would sell off certain business units to pay off the $85 billion loan. The company, however, said it plans to retain its U.S. property and casualty and foreign general insurance businesses. It also plans to keep an ownership interest in its foreign life-insurance operations.