CHARLOTTE, N.C. — American International Group Inc. is preparing to ask the Federal Reserve to relax rules on how bidders pay for assets as it tries to repay a $60 billion loan, according to a report in the Financial Times on Wednesday.

The New York-based insurer wants to boost competition for the assets by allowing bidders to pay using a greater portion of shares, or through installments, the newspaper reported, citing people close to the situation.

Under the current plan, AIG can only sell assets to bidders paying at least 90 percent of the price in cash.

AIG, once the world’s largest insurer, is in the process of liquidating assets to repay the loan, which is part of a $150 billion bailout from the federal government.

The flexible options would make it easier for potential buyers to bid for the company’s assets, as well as counter the perception that AIG will be forced to sell units at bargain prices to repay the government loan, the report added.

— From wire reports